The Insurance Monitor invites the Chief Executive Officers (or appropriate delegate) of insurance companies to make a commitment to ensure appropriate systems and procedures are put in place to comply with the Insurance Monitor’s Guidelines.
The Guidelines on the Prohibition against Price Exploitation and the Prohibition on engaging in False or Misleading Conduct in relation to the emergency services levy reform are being reissued by the Insurance Monitor shortly (Link to follow).
The Insurance Monitor considers a CEO Declaration to be an important public statement of an insurer’s commitment to comply with these Guidelines and the statutory provisions. Both Guidelines state that “adherence to the Guidelines will reduce the likelihood that the Insurance Monitor will have concerns that conduct may be in breach of the statutory prohibitions.”
CEO declarations are due to be received by the Insurance Monitor by 1 September 2017, and may be published on this website at the Insurance Monitors discretion.