The Commission explored issues relating to the insurance industry in Round 6 of its public hearings, held in Melbourne from 10 September–21 September 2018. In particular, this round of hearings focused on issues associated with the sale and design of Read More …
Tag: round
Overview
In addition to submissions received by the Commission, the Commission also consulted broadly with a number of industry participants, rural financial counsellors, legal aid commissions, regulators and affected consumers to inform its lines of inquiry. Based on this information, the Read More …
Consumer lending and personal finance
Issues relating to consumer lending were examined in the Commission’s first round of its public hearings, held in Melbourne from 13 –23 March 2018. The Commission inquired into aspects of the treatment of consumers by banking and financial services providers Read More …
2.1 Background
At the time of the sixth round of hearings, Freedom Insurance Group Limited (Freedom) marketed and distributed life insurance products directly to consumers by telephone. The case study examined Freedom’s sales and retention practices, both generally and in relation to Read More …
4.6 External dispute resolution
A number of case studies examined in the sixth round of hearings involved problematic dealings between an insurer and the EDR body: previously FOS, now AFCA (the Australian Financial Complaints Authority). These included the CommInsure, TAL and AAI (Hunter Valley Read More …
4 Issues and responses
The issues arising from the case studies examined in the Commission’s sixth round of hearings are described in detail in the discussion in Volume 2 of this Report. The issues can be organised as follows: issues relating to the manner Read More …
Introduction
The third matter that emerged in connection with the provision of financial advice related to the disciplinary system for financial advisers. That system now consists of a number of bodies, each directed at regulating different, though related, norms of behaviour, Read More …
Preface
This is the Final Report of the results of my inquiry, and the recommendations arising out of my inquiry, into the matters described in the Letters Patent dated 14 December 2017. It is to be read with the Interim Report Read More …