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News
Fairness at Claims Time – Poll Result
1+ mon, 2+ week ago (222+ words) Our latest poll result indicates that advisers are giving life insurers a decent thumbs-up with regard to how the companies treat advisers’ clients at claim time. More than half (54%) of respondents said life insurers treat their clients’ claims with objectively…...
Claim Denials Drive Rise in Life Insurance Complaints
7+ mon, 2+ week ago (354+ words) More than 100,000 complaints were lodged with the Australian Financial Complaints Authority in the last financial year, with just 2.4% relating to life insurance. During the year, AFCA reported that Australian clients were paid more than $390,000 in compensation with complaints spread across…...
Australian Complaints Body Flags ‘Systemic’ Industry Failures
7+ mon, 4+ week ago (298+ words) The Australian life insurance sector continues to face systemic weaknesses in record keeping, policy design and claims handling according to the most recent Systemic Issues Insights Report published by the Australian Financial Complaints Authority. In Edition 7 of the series, covering…...