complaints

Life/Risk

Insurers warned on outsourced service providers

In a message which will resonate with some life insurers, Australia’s general insurers have been warned against allowing outsourced service providers to handle complaints...

Financial planning

AFCA inundated with complaints

The Australian Financial Complaints Authority reported it received over 13,000 phone enquiries in its first month of operation. ...

Financial planning

Report reveals miniscule number of advice complaints

The latest report of the Banking Code Compliance Monitoring Committee has revealed that the number of complaints relating to financial advice was barely discernible when ...

Policy & Regulation

ASIC warning to AFCA laggards

The Australian Securities and Investments Commission has issued a warning as credit representatives appear to be lagging on their obligations to join the Australian Finan...

Financial planning

ANZ acknowledges value of advisers at claims time

ANZ has confirmed that financial advisers reduce the number of complaints around life insurance at claims time....

Financial planning

FOS option not explicitly advised to clients

Financial services providers must clearly and explicitly explain to clients that they could seek assistance from FOS should the need arise to complain about a dispute....

Editorial

Equity and effectiveness should trump cost-savings

The Government has commissioned a timely review of the external dispute resolution schemes covering financial services, but it should focus more on equity and effectivene...

Policy & Regulation

ASIC admits few complaints about claims handling

ASIC deputy chairman, Peter Kell, has admitted that prior to issues around CommInsure, it had received few complaints about life insurance claims handling....