The Financial Ombudsman Service establishes Mutuals and Insurance Broking divisions

On 1 January 2009, The Financial Ombudsman Service established two new divisions.

The Mutuals division will deal with disputes about credit unions and other mutual financial services providers and will consider disputes that were previously dealt with by the Credit Union Dispute Resolution Centre under substantially the same Terms of Reference. Philip Field, Ombudsman - Banking & Finance has been appointed Ombudsman - Mutuals.

The Insurance Broking division will deal with disputes about Insurance brokers and other financial services providers who are subject to the Insurance Broking division Terms of Reference.

The Insurance Broking division considers disputes that were previously considered by Insurance Brokers Disputes Limited under substantially the same Terms of Reference. Belinda Lim, who was appointed as the Referee for Insurance Brokers Disputes Limited in 2008 has been appointed as the Referee of the Insurance Broking division for 2009.