When ASIC’s new informed consent rules for AFS licensees selling general insurance took effect in July, they sparked a mixed response across the broking community. While some brokers welcomed the changes as a step towards greater transparency and accountability in client relationships, others argued the rules simply add another layer of unnecessary red tape. Reflecting this division, the National Insurance Brokers Association (NIBA) has joined calls for the regulation to be reviewed, advocating for amendments or even a potential repeal.
