The Insurance Council of Australia (ICA) has accepted all recommendations from former Australian Securities and Investments Commission (ASIC) Chairman David Knott regarding its revised general insurance code of practice.

ICA released a revised draft code earlier this year, but ASIC and the Australian Consumers' Association have bagged it a bit, saying it is, among other things, too industry-centric and doesn’t take consumers’ needs into account.

It then commissioned Mr Knott to analyse public and industry submissions and come up with recommendations.

Although ICA won’t be disclosing the recommendations until later in the year, Mr Mason told Sunrise Exchange News the changes will focus on consumer protection, further benchmarking and aligning the code with the National Insurance Brokers Association's brokers’ code.