Conduct code for mutuals launched as ‘traditional’ premiums rise

15 December 2022

The Business Council of Co-operatives and Mutuals (BCCM) has prepared its first voluntary code of conduct for operators of discretionary mutual funds (DMFs), amid renewed interest in the risk protection schemes as alternatives to traditional insurance products.

BCCM launched the good practice guide today, having taken about a year to develop the document after the Australian Small Business and Family Enterprise Ombudsman completed its DMF inquiry.

The inquiry – which looked at the insurance crisis facing the amusement, leisure and recreation sector – concluded DMFs offer the “most practical and durable” solution for businesses struggling to afford cover in a hardening rate cycle.

Read the full article, Conduct code for mutuals launched as ‘traditional’ premiums rise, Insurance News Pty Ltd., 15 December 2022

Read the full article, Conduct code for mutuals launched as ‘traditional’ premiums rise, ReInsurance News Pty Ltd., 15 December 2022