IAG Personal Insurance CEO Andy Cornish has been appointed President of the Insurance Council of Australia (ICA).

The former deputy president succeeds Suncorp Personal Insurance CEO Mark Milliner, while QBE Insurance Australia and New Zealand CEO Colin Fagen is the new Deputy President.

Mr Milliner says highlights of his two-year term include the new General Insurance Code of Practice, abolition of the fire services levy in Victoria, improved insurer access to hazard data and the Understand Insurance financial literacy program.

Mr Cornish paid tribute to Mr Milliner for advancing ICA’s policy, advocacy, communications and stakeholder engagement.

He says this is an exciting time for the Australian insurance industry, with immediate challenges such as addressing outcomes of the Financial System Inquiry and the Productivity Commission report into natural disaster funding.

Mr Cornish and Mr Fagen were appointed at an ICA board meeting in Sydney on November 6. Their two-year terms begin on January 1.