News
See updates and articles from a range of publications about insurance and financial services, including industry updates and consumer tips.
See updates and articles from a range of publications about insurance and financial services, including industry updates and consumer tips.
As we head away on holiday, Susan Edmunds takes us through some common mistakes, from IFSO Scheme complaints, and tips for a smooth insurance claim.
Story from Stuff: 28 December, 2019
Proposed changes resulting from the insurance contract law review will place the onus on insurers to ask the right questions, rather than consumers to know what to disclose.
Story from NZ Herald: 4 December, 2019
Nobody likes to be on the receiving end of a complaint. But Insurance & Financial Services Ombudsman Karen Stevens encourages the industry to regard complaints as a learning opportunity.
Story from Insurance Business Online: 23 November, 2019
If the industry is serious about changing conduct and culture for better customer outcomes, complaints are a good place to start.
Story from Adviser Focus, 21 November, 2019
Over 24 years, the IFSO Scheme has dealt with hundreds of non-disclosure complaints. Law change is imminent and Tower is making changes already.
Listen to the Radio NZ interview with IFSO Karen Stevens: 10 July, 2019
Last year, the IFSO Scheme received only three cases about financial advisers. In this case there was no evidence to show the adviser had misled their client.
Story from Good Returns: 4 September, 2019
Insurance provides cover for accidental and sudden (not gradual) damage. Gradual damage is a common insurance complaint.
Story from Insurance Business Online: 8 November, 2019
Insurance complaints can arise due to misunderstandings or unmet expectations. Gradual damage is a common complaint issue, highlighted in this case.
Story from Stuff: 7 November, 2019
Concerned a flight would be cancelled and they’d miss their cruise, a couple decided instead to 10-hour train trip. Their claim for the cost was declined and they complained to the IFSO Scheme.
Story from Stuff: 12 September, 2019
An Aucklander wasn’t covered for the damage to his neighbour’s land after his swimming pool collapsed. His complaint was one of 322 to the IFSO Scheme last year. Policy exclusions were the most common issue.
Story from NZ Herald: 12 September, 2019
From Vegas to Kuala Lumpa, wherever you are, it pays to be safe and to check your insurance policy before you might need it. Alcohol often plays a part in declined claims and subsequent complaints to the IFSO Scheme.
Story from Stuff: 22 September, 2019
The car, the boat and the white powder. Not a standard example of a standard requirement: take care of your property. Having insurance doesn’t mean you’re automatically covered.
Story from Stuff: 25 September, 2019