Codes

AFIA Insurance Premium Funding Code of Practice

AFIA and its IPF members – Hunter Premium Funding, IQumulate, BOQ Finance, Principal Finance, Attvest, Premium Funding and Elantis – have come together and propose to release a Code of Practice for the Insurance Premium Funding (IPF) sector.

AFIA will conduct a four-week public consultation from 1 September 2020 to 30 September 2020 to stakeholders to provide feedback. All submissions are to be sent via email to codes@afia.asn.au. Subject to ensuring no breach of privacy legislation, it is proposed that all submissions and feedback will be published on the AFIA website.

If you do not wish for this to occur, please make it clear in your submissions.

AFIA aims to have the Code operating by January 2021. For more information about the Code email codes@afia.asn.au.

A world-first for the BNPL sector, the draft Code is in direct response to ASIC’s review of the BNPL sector (ASIC Report 600) and an inquiry conducted by the Senate Economics Reference Committee, which recommended the development of a BNPL Code of Practice.

AFIA aims to have the Code operating by January 2021. For more information about the Code email codes@afia.asn.au.

 

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Code of Practice

AFIA aims to have the Code operating by 31 January 2021.



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Media Release

The Code strengthens disclosure obligations to IPF customers to allow customer to better compare funding products and to set industry standards on arrangements between funders and brokers.

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Frequently Asked Questions

Answers to Frequently Asked Questions (FAQs) for the Insurance Premium Funding Code of Practice can be found at the below link.

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