The insurance industry has always had its supporters and critics in Canberra, but Federal Assistant Treasurer Mal Brough is one politician who doesn’t mind giving the industry a pat on the back occasionally. Most recently he upset lawyers by unashamedly backing the industry over tort reform, saying the industry shouldn’t be ashamed of making a profit.

Yesterday it was over the industry’s new code of practice, with Mr Brough congratulating the industry for its commitment to improving customer service, transparency, and setting higher standards for general insurance cover.

“We have a stable, profitable insurance industry which has recovered well from the fallout of the HIH collapse,” he said. “It’s important that consumers also benefit from the recovery of the industry.”

He says consumers have every right to expect the “best possible service from their insurer, and that’s something the industry has taken very seriously”.

And Mr Brough linked the code with the tort reform issue, which has lately stirred lawyers to pummel newspaper editors with angry letters. “The reforms implemented by the states and Australian Government depend on the insurance industry doing its bit to secure a better deal for policyholders,” he said. “It gives me great confidence to see the proactive approach being taken by the industry.”