Code Administration Committee explores legal structuring
Code Administration Committee explores legal structuring | Insurance Business Australia
Motor & Fleet
Code Administration Committee explores legal structuring
Move aims to strengthen code of conduct governance
Motor & Fleet
By
Roxanne Libatique
The Code Administration Committee (CAC) of the Motor Vehicle Insurance and Repair Industry (MVIRI) is actively reassessing its Code of Conduct, guided by an independent evaluation conducted by Dr Michael Schaper.
In response to the review completed in May 2023, the committee is exploring the establishment of a formal legal entity, reflecting a significant recommendation by Schaper.
He said that the current informal setup might undermine the code’s standing with both industry players and governmental authorities.
“The legal advice received is also of assistance in guiding instructions for the redrafting of the code. The CAC is also currently in the process of obtaining proposals as to the drafting of the revised code,” he said. “Once a revised draft of the code is received, the CAC will engage and consult with the insurance and repair industry and other stakeholders.”
Jenkins expressed a measured optimism about the advancements made so far, aiming to have a new draft ready by the second quarter of 2024.
“I would like to thank all committee members for their hard work, but more importantly to the industry for their patience to date,” he said.
Review of the MVIRI Code of Conduct
Schaper was tasked in December 2022 to lead the review, resulting in 15 targeted recommendations that addressed the efficacy of dispute resolution, code accessibility, compliance, and governance, among other operational aspects.
This review saw contributions from a broad range of parties, including government representatives and industry professionals
The MVIRI Code of Conduct, established in 2006, has been subject to multiple evaluations to maintain its alignment with the evolving needs of the industry, with the previous assessment conducted in 2017.
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