Something as simple as a customer not completely understanding the insurance product they purchase can lead to a complaint, the Insurance and Savings Ombudsman says.
The ISO has released its latest annual report, which shows the scheme resolved its highest number of complaints since 19998 – a total of 300 complaint investigations and 3215 inquiries.
Sixty-two per cent of complaints related to general insurance.
Only a small number related to financial advisers, she said.
But the second-largest number of complaints related to health, life and disability insurance, at 31%...MORE»
Monday, September 15th, 4:16PM
Advisers’ role in health insurance is likely to grow over the coming years, Southern Cross Health Society chief executive Peter Tynan says.MORE»
Wednesday, September 10th, 7:32PM
Newpark managing director Darren Gannon says the insurance sector needs to regulate itself before it’s too late.MORE»
The quick approach to price comparison on life insurance is both entirely understandable, and dumb.MORE»
AIA is increasing its standard commission rates and changing its clawback structure.MORE»
Partners Life is winding up its shadow share offer to advisers.MORE»
AMP has posted a solid result for the six-months to June 30, as it prepares for the change in life insurance taxation rules next year. Managing director warns there is pressure ahead, especially in the distribution space.MORE»