News

Disputes with the Ombudsman miniscule when dealing with Brokers

News >>

Ombudsman’s report confirms Brokers’ low dispute rate
Statistics recently released by the Financial Ombudsman Service (FOS) reveal  that of all the general insurance disputes accepted by the ombudsman during 2012/13, just 0.66% were between small businesses and brokers.

In comparison, there were more than 300 disputes between SMEs and insurers.

This low number could well reflect the quality of advice and guidance broker clients receive. The bulk of disputes involved decisions made by the financial service provider making up two thirds of cases heard by the ombudsman in this category.

These statistics should reassure all brokers that our advice not only helps clients make the right decisions but could also play a role in protecting them from troublesome disputes. 

Last changed: Nov 20 2013 at 2:35 PM

Comments

  1. Query By Guest
    on Dec 03 2013 at 2:44 PM

    Hi Guys,

    Where did these statistics come from? I am just slightly confused, one figure is a percentage (.66%) and one is a whole number (300) - for all we know, the whole number that the percentage represents could be more than 300 for all we know because we don't know the base figure.

    Please clarify if possible.

Add Comment

Latest News

CPR joins Ausure

We would like to announce to all our Clients, Prospective Clients, Suppliers and Insurers, that Cooper Professional Risks Pty Ltd trading as CPR Insurance Services, will be leaving National Adviser Services Pty Ltd (NAS) and joining Ausure Pty Ltd as a Corporate Authorised Representative from 5 March 2018.

Fundamentally, there is no difference to you, except our Invoices will look a little different, and the Banking details will be in a different name and account number. Everything else at CPR stays the same.

There are a number of reasons we have made this decision, but the primary reason is for what we believe is best for our clients.

read more

Special offer to CPR Insurance clients

Employsure are providing a FREE Business Health Check to all our clients and gives you the opportunity to receive an analysis of the health and safety requirements in your workplace. Also. Employsure  will review your employment agreements as well as your wage rates helping you to avoid workplace claims.

Ordinarily this would cost you at least $1,250 but because you are a CPR Insurance client, it is free!

It involves the following review for you.

SAFECHECK

A specialist Work Health and Safety Consultant will visit your workplace and carry out:

A review of your business’ current work health and safety policies, procedures and systems to identify areas of concern or non-compliance

Following the review, you will receive a report summarising the findings and the health and safety

Status of your workplace

WAGE CHECK

A Wages Adviser will review your rates of pay and produce a Wage Check report.

The review will be conducted against the industrial instrument applicable

A report will be supplied advising if the wages are compliant and what steps to take to achieve compliance

CONTRACT REVIEW

A Document Consultant will review an employment agreement and provide recommendations.

The review will highlight compliance issues with the Fair Work Act 2009 as well as best practice

The report will make recommendations to achieve compliance and provide protection to your business.

This will remove any areas of potential dispute and risk

So what do you have to lose? Contact us on 07 3123 1137 and arrange 

read more