AFCA has updated its factsheet on add-on insurance.
Specifically, the add-on insurance factsheet:
- provides more clarity around how we assess whether a complaint is lodged within time
- confirms that AFCA will assess whether it has jurisdiction on each complaint where a complainant has alleged they have suffered a loss.
We trust these updates will help to efficiently resolve add-on insurance complaints at AFCA. Find the updated factsheet here.
Additionally, we have been reviewing the quality of lodgments provided by paid representatives. As this is mostly in line with our expectations, and to provide a more timely handling of these complaints, AFCA has ceased the practice of reviewing whether all add-on insurance / consumer credit insurance lodged by paid representatives meet our information requirement expectations set out at C.2.2(g) of our Rules.
Please be assured that where a paid representative has not met our expectations on an individual complaint, we will manage this within case management.
Where a complaint progresses to workflow, there is no need for a financial firm to dispute jurisdiction based on Rule C.2.2 (g). Financial firms may still dispute jurisdiction on other grounds and where that relates to a mandatory exclusion, AFCA’s Rules team will assess the jurisdiction objection before the complaint progresses further.
