4.8 — Removal of claims handling exemption

The handling and settlement of insurance claims, or potential insurance claims, should no longer be excluded from the definition of ‘financial service’.

Government Response

The Government agrees to remove the exemption for the handling and settlement of insurance claims from the definition of a financial service.

Inappropriate claims handling practices can cause significant consumer detriment as highlighted through the Royal Commissions round six hearings into insurance.

80 thoughts on “4.8 — Removal of claims handling exemption”

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