https://youtu.be/lUUHIAoA1uA
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https://www.smh.com.au/money/banking/covid-19-stirs-big-jump-in-financial-complaints-20200924-p55ysf.html
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Maximum cases in Consumer Credit Insurance, the claims are made by the complainants are denied by the financial firm because of insufficient knowledge about the policy wordings.
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In 2018, in most cases in Third-Party fire and theft car insurance, the determinations favoured financial firms since there was insufficient information to support the claim.
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AFCA approves IAG 75% premium hike
https://www.insurancenews.com.au/daily/afca-approves-iag-75-premium-hike
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The claim settlement amount is one of the leading causes of dispute behind most claim cases in Personal and Domestic property-valuables for 2018. #afcainsights #afca
The majority of complaints in Personal and Domestic Property - Caravan insurance are due to denial of the claim for the last two years, and AFCA ruled in favour of firms for most cases.
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From 2019 onwards, for business loan lending complaints, the AFCA determinations favored the financial firms because they acted appropriately and complied with the lending process obligations.
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AFCA Insights is an Insights-as-a-Service to assist you in data-driven decision making.
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