IBCCC Highlights Communication and Compliance Gaps
The Insurance Brokers Code Compliance Committee (IBCCC) emphasizes the need for brokers to enhance their renewal processes, following the release of its 2025 Annual Data Report. This report identifies renewal timeframes as a significant area of non-compliance.
The report highlights that late or missed renewal engagements continue to be a critical issue. These issues impact clients’ ability to make informed insurance decisions, potentially leading to uncertainty and exposure to risks. The IBCCC stresses the importance of timely renewal processes to maintain a strong broker-client relationship.
Oscar Shub, Chair of the IBCCC, stated, “Clients need enough time before renewal to consider their options, understand any changes to their cover and make informed decisions about the protection they need.”
Communication and Compliance
Ensuring clear communication is crucial, as the report outlines. Brokers must explain advice, costs, risks, benefits, exclusions, and changes to cover. It is vital for clients to understand more than just the timely delivery of information.
The 2025 report documented 5,417 breaches of the Insurance Brokers Code of Practice, affecting 14,842 clients. 3,133 complaints were reported, marking an increase from the previous year.
“Clear advice is central to good broking practice,” Shub remarked. “It is not enough for information to be provided. Clients need to understand the advice they are receiving, the role their broker is playing and what the recommended cover means for them.”
While some brokers report zero breaches or complaints, the IBCCC cautioned against viewing this as evidence of perfect compliance. Effective systems that identify, assess, and report issues, including minor process failures, are essential.
The IBCCC urges brokers to review daily practices that support client outcomes, such as renewal workflows, communication standards, complaint handling, and breach reporting. The Committee will continue to monitor these areas and engage with brokers on compliance concerns.
Self-identifying and addressing problems is a sign of a more mature compliance framework. “Good compliance is not shown by simply reporting nothing,” Shub noted.
Last updated: 29 June 2026, 11:50 am
