Latest Update
18 December 2025 – We have finalised our report, taking into account some final additional information provided by NIBA. The Report can be downloaded here.
November 2025 – We completed a draft Report in September and provided this to NIBA for a response. NIBA is consulting with their members before providing its response which we think will make for a better Review Report. We are expecting NIBA’s response in the next two weeks and that our report will be quickly finalised after that.
April 2025 – Submissions to the Code review were accepted until end-May (with a few extensions granted). Public submissions to the review can be viewed here.
February 2025 – A Consultation Issues Paper was issued early in the Review and is available here.
To learn more about the consultation process as we move forward with the review please go here.
Review Background
Independent Review of the Insurance Brokers Code of Practice
The 2022 Insurance Brokers Code of Practice (‘the Code’) defines the ethical and professional standards expected of all members of the National Insurance Brokers Association (NIBA) and non-members who have subscribed to the Code.
By committing to the Code, the broking profession demonstrates its commitment to high standards of professionalism and ethical conduct, offering clients protections and safeguards that go beyond legal requirements.
The Code is subject to a three-yearly independent review. In keeping with this commitment, NIBA has appointed Phil Khoury of cameron. ralph. khoury (‘CRK’) to lead the review.
Phil has an extensive background in undertaking reviews in the financial services sector (see https://crkhoury.com.au). The Terms of Reference for the Review are available here and the current Code of Practice is available here.
The Review has taken some time and has involved:
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- Initial consultations with key stakeholders – mid-December 2024 to mid-February 2025
- Publication of consultation paper – late February
- Consultation with stakeholders – mid-February to late-April
- Analysis and follow-up – June and July
- Draft Report prepared – late August
- Report to NIBA for fact-checking and response – September
- NIBA consultation with members, preparing response
- Final Report – December 2025
We expect an initial response from NIBA at the same time as we have published – but we recognise that a full response with detail of a new draft of the Code may take some time.
Communications
If you would like to contact the Independent Reviewer, please email niba_code_review@crkhoury.com or call on 03 9421 3111.