The Australasian Institute of Chartered Loss Adjusters (AICLA) is developing guidelines for members on licensing requirements under new claims handling and settlement legislation passed late last year.

AICLA President Glyn Lloyd says the group has held numerous conversations with the Australian Securities and Investments Commission and Treasury over the past 12 months seeking clarity.

The group believes adjusters acting for insurers with licences fall into the category of service providers and don’t need an Australian Financial Services Licence, but clarification has been sought for adjusters that may also act for third parties, as public adjusters or for overseas insurers.

“The influx of questions received from members have not gone unheard and we are in the process of developing specific guidelines for members, irrespective of the field of operation,” Mr Lloyd says in a newsletter.

AICLA says minimum standards should be achieved in terms of technical ability, knowledge and education by way of advancement through the Diploma of Loss Adjusting.

“We will continue to press for the inclusion of minimum standards for those in the claims profession in Australia,” he says.