A website designed to empower consumers and help insurance brokers improve their service standards has been launched by the independent Insurance Brokers Code Compliance Committee (the Committee) that monitors compliance with the Insurance Brokers Code of Practice (the Code). It is an exciting development for the Committee, which works with consumer groups, regulators and Code subscribers to…

Read More New website of the Insurance Brokers Code Compliance Committee links consumers and insurance brokers

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On 6 July 2020, the Banking Code Compliance Committee (BCCC) launched an Inquiry into Code-subscribing banks’ compliance with Part 4 of the Banking Code of Practice (the Code). The obligations under Part 4 of the Code are key consumer protections for disadvantaged customers and are particularly relevant as the community faces heightened challenges due to…

Read More BCCC launches vulnerability, inclusivity and accessibility Inquiry

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Super Consumers Australia urges insurers to drop discriminatory policies that don’t protect the unemployed or people working limited hours. Super Consumers Australia has warned that the insurance industry will put approximately 343,000 people at financial risk if it doesn’t take action by the end of September. The warning comes after the Financial Services Council promised…

Read More COVID job losses leading to people paying for junk insurance

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Today’s announcement by the banking industry of further assistance to help customers experiencing financial hardship will provide some important relief to those who continue to be impacted by COVID-19.  CHOICE, Financial Rights Legal Centre, Consumer Action Law Centre and Financial Counselling Australia are at the forefront of helping people impacted by COVID-19, particularly people doing…

Read More Banks Announcement of Further Assistance for Customers a Timely Relief: Consumer Groups

In this short animated video, Legal Aid Queensland’s Paul Holmes, senior lawyer (consumer advocate), Civil Justice Services team talks about how to reduce your debt, particularly during COVID-19. In the legal information bites series, Legal Aid Queensland talks about the law, your rights and where to get legal help if you need it. To find…

Read More How to reduce your debt – Legal information bites by Queensland Legal Aid

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Ladders are used in most households for a range of jobs from DIY to changing lightbulbs; however, if the ladder is not in good condition or is used unsafely, falls can occur and cause fractured limbs, spinal cord damage, severe brain injury or death.  Standards Australia has just published a revised standard AS 1895.2:2020 Portable ladders which provides minimum requirements…

Read More Safe ladder use and Australian Standards

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Australians in dispute with their bank, insurer, super fund or financial firm have lodged more than 80,000 complaints in the last 12 months, with the Australian Financial Complaints Authority (AFCA) securing $258.6 million in compensation and refunds direct to consumers.  People made 80,546 complaints to AFCA between 1 July 2019 and 30 June 2020. This…

Read More AFCA receives more than 80,000 complaints in FY19/20, nearly 5,000 of which are COVID-19 related

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Consumers can now choose to share their banking data to access more personalised financial products and services following the launch of the Consumer Data Right today. All four major banks are capable of sharing their customers’ data, when requested by the customer. Other authorised deposit-taking institutions will join the Consumer Data Right over the coming…

Read More Consumer Data Right goes live for data sharing

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A number of life insurers appear not to be taking their obligations under the Life Insurance Code of Practice (the Code) seriously, according to a report released on Friday by the Life Code Compliance Committee (the Committee) – the independent Committee which monitors and enforces industry compliance with the customer service standards set out in…

Read More Report shows life insurers need a stronger commitment to their Code compliance obligations