The Financial Ombudsman Service (FOS) will examine insurers’ compliance with industry codes of practice as part of a wider review of financial services providers.

It has planned four inquiries this year. Those related to the general insurance industry involve insurance brokers’ internal dispute resolution processes to assess compliance with relevant standards under the Insurance Brokers Code of Practice, and code compliance by service suppliers with the General Insurance Code of Practice.

“The inquiries are an annual aspect of the Code Compliance Committee’s ongoing monitoring processes conducted throughout the year, and are standard practice for the… committee”, a FOS spokesman told insuranceNEWS.com.au.