Direct insurers worry regulator
ASIC is concerend about daytime television promotion of life insurance directly to consumers.
Read More Direct insurers worry regulator
Insurance
New Type of Financial Services Licence
The new financial services licence will see up to 10,000 more licensed advisors.
Read More New Type of Financial Services Licence
BMW Finance customers refunded following breach
More than 2400 consumers will be refunded a total of $1,392,667 by BMW Australia Finance Limited following a breach of the National Credit Code by the car financier.
Read More BMW Finance customers refunded following breach
Payday ‘protection plan’ offers little.
CFA members ask whether it is OK to sell a ‘payment protection plan’ to a person with a Centrelink income.
Read More Payday ‘protection plan’ offers little.
Private health insurance far from healthy
The ACCC has highlighted competition and transparency issues in the Private Health Insurance industry.
Read More Private health insurance far from healthy
Toyota refunds overcharged CCI premiums
More than $630,000 refunded to customers following overcharges on consumer credit insurance.
Read More Toyota refunds overcharged CCI premiums
Financial Exclusion in Australia Increases
New report by the Centre for Social Impact finds nearly 3 million Australians are excluded from financial services.
Read More Financial Exclusion in Australia Increases
Consumer representative positions: Banking & Insurance Code Compliance Monitoring Committees
The Financial Ombudsman Service is seeking two consumer representatives for the monitoring committees for the Codes of Banking Practices and the General Insurance Code of Practice.
Read More Consumer representative positions: Banking & Insurance Code Compliance Monitoring Committees
ASIC releases first six-monthly enforcement report
ASIC logo
The report outlines categories of gatekeepers against whom ASIC has taken action including financial advisers, responsible entities, credit licensees, market participants, directors, company officers, insolvency practitioners and auditors. It includes detailed statistics over a six month period.
Read More ASIC releases first six-monthly enforcement report
30,283 financial service disputes at FOS in 2010/11, up 27%
FOS latest Annual Review has been released, with summaries in English and other community languages. Also published online are Comparative Tables showing disputes about individual financial service providers.
Read More 30,283 financial service disputes at FOS in 2010/11, up 27%
Ombudsman updates treatment of flood insurance disputes
The Financial Ombudsman Service has issued a special update on how it treats flood insurance matters Circular Issue 7 – Update 1 – Flood Edition – Nov 2011
Read More Ombudsman updates treatment of flood insurance disputes
Stronger response needed to ensure consumers are protected in times of disaster
Consumer Action Law Centre logo
CFA member the Consumer Action Law Centre has expressed disappointment with the Government’s initial response to the National Disaster Insurance Review (NDIR) Panel’s report which it labelled as ‘indecisive’. While the Centre welcomed moves towards a system which would see more Australians covered by flood insurance, it raised concerns about the proposed ‘opt out’ model and has lamented the lack of tangible interim measures in the Government’s response.
Read More Stronger response needed to ensure consumers are protected in times of disaster