Cash Settling – I have read and understood the Motor Vehicle Insurance and Repair Industry Code of Conduct commencing 1 May 2017, and note my obligations and those of insurers detailed under the Code.
First and foremost I say the insurer has breached the Code at Clause 1 - Standards of fair-trading, process and transparency in the relationship between Insurers and Repairers because they failed to be open (transparent) in their dealing with me because they are cash settling the insured unfairly. This practice is not only detrimntal to me, more importantly it is deterimental to the insured. More specifically, breaches 1.1 a, b, and/or c also bring into question possible breaches for the consumer as it relates to the General Insurance Code (GIC) at Clause 1.1 (c) in which the repairer knowing this and if not corrected by the insurer, the repairer is duty bound to inform the consumer of their rights according to this insurance repair claim and their entitlement to lodge an IDR under the GIC.
I also say that the insurer has breached its obligations under Clauses 4.2(a)(iv) in relation to current industry practice, and Clause 8.1 concerning the ordinary course of business.