Two Financial Ombudsman Service (FOS) “own-motion inquiries” into the insurance industry will take place in April and June.

“These own-motion inquiries allow us to share our experience of code compliance and encourage good practice when we have identified areas for improvement,” a FOS spokesman told insuranceNEWS.com.au.

The inquiries comprise three stages: data-gathering from code subscribers and invited consumer advocacy groups; analysis and assessment; consultation and reporting.

The first inquiry will examine brokers’ internal dispute resolute processes, to determine their compliance with relevant standards under the Insurance Brokers Code of Practice.

The second will look at compliance with the General Insurance Code of Practice.