Latest Poll: Up for Dispute?
While disputes about financial advisers have reduced in the first six months of this financial year, financial ombudsman FSCL has reported a spike in...
Ombudsman Service Sees Major Increase in Financial Disputes
There was strong reader interest this week in FSCL reporting a spike in the number of financial disputes in the first half...
Claim Denials Drive Rise in Life Insurance Complaints
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...
Australian Former Adviser Jailed
An Australian former financial adviser, Anthony Paul Torre, has been sentenced to six years imprisonment, backdated to commence 29 January 2025. He was sentenced...
Australian Complaints Body Flags ‘Systemic’ Industry Failures
The Australian life insurance sector continues to face systemic weaknesses in record keeping, policy design and claims handling according to the most recent Systemic...
FSCL Appoints Consumer Rights Expert to Board
Financial ombudsman service, Financial Services Complaints Limited, has appointed consumer rights expert Kate Tokeley to its board as a consumer director.
FSCL says Tokeley is...
Complaint Against Adviser Dismissed
Our report on a son’s complaint against his mother’s insurance adviser being dismissed by a financial ombudsman attracted strong reader interest...
Insurer to Pay $7 Million Penalty for Misleading Representations
General insurer Tower has been ordered to pay a $7 million penalty for misleading representations that resulted in more than $11 million in overcharges...
New Report on Financial Institutions’ Product and Services Reviews
The Financial Markets Authority has released a “thematic review” on how financial institutions, including 10 insurers, conduct reviews of existing products and services.
Executive Director,...