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

Robert Cooper - Elite Broker again

We are pleased to announce that once again Insurance Business Magazine has recognised Robert Cooper amongst the top Elite Insurance Brokers in Australia. See here

It is the fourth time in six years Robert has received this honour.

It is a great recognition for CPR Insurance Services who strive to provide the best possible standard of customer care and service to assist obtaining the best possible cover at the best possible price to meet the needs of for our clients.

Such awards are not possible without the outstanding support provided in the office by Julia, Aidan and Mandy, along with the fantastic support our clients continue to show to us. Thank you to all.

read more

CPR Insurance nominated for Brokerage of the Year

We are please to announce that CPR Insurance Services has been nominated as a finalist in the Brokerage of the Year (1 to 5 Brokers) for the inaugural Insurance Business Awards. 

A Black Tie Gala Dinner in Sydney on the 4th May 2018 will announce the winner, so fingers crossed.

CPR Insurance Services has been in existence for more than 7 years now and continue to grow and develop. It is thanks to our wonderful clients who appreciate us being part of their own businesses as their Risk and Insurance Advisers.

We continue to follow the simple philosophy of providing Expertise, best possible service and being there for our clients when they need us, such as at Claim time. We are here to save you.

Find out who made the cut here!

The Insurance Business Awards will bring together industry leaders to celebrate excellence in the insurance profession, recognising leading brokers, brokerage businesses, insurers and underwriting agencies in Australia for their contribution to the industry over the past 12 months.

read more