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Issue 17 - May 2014

Where we have been - recent FOS events

 

Open Forums – Sydney
Over 300 members from General Insurance, Banking and Finance, and Investments, Life Insurance and Superannuation attended open forums in Sydney on 16 & 17 April.

FOS experts included John Price, Evelyn Hall, Chris Liamos, Alison Maynard, Jamie Orchard, Philip Field and Diana Ennis.

We welcomed record numbers of attendees to each forum, and some of the highlights are set out below.

 

General Insurance forum

Most popular discussions included:

  • the application of section 47 of the Insurance Contracts Act
  • non-disclosure and misrepresentation
  • FOS’s role in fraudulent claims.

 

ILIS forum

Most popular discussions included:

  • disputes involving advisers who move between financial services providers, legacy products, apportionment, and the responsibility of the financial services provider in these cases
  • advice issues including adviser recommendations, clients’ expectations and the level of cover taken out by the client
  • disclosure and pre-existing conditions, and unrealistic customer goals in investments.

 

Banking and Finance forum

Most popular discussions included:

  • non-financial loss and how FOS approaches this type of dispute
  • managing expectations both during and after the FOS process
  • privacy laws and retention of documents
  • recent cases and auto lending issues.

 

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