The Australian Financial Complaints Authority (AFCA) says it received more than 17,000 covid-related complaints about banking, insurance and other financial services, with travel insurance the most complained-about product.

The dispute resolution body says complainants were awarded $21.6 million in compensation or refunds, with the announcement coming a week after the World Health Organisation declared the end of the “global emergency” phase of the pandemic. 

AFCA says it registered 17,403 covid-related complaints between March 12 2020, and May 6 this year, accounting for 7% of all complaints it received in that time.

The most complained-about product was travel insurance, with 3859 complaints registered as countries issued restrictions on movement due to the virus and insurers limited cover for covid-related claims.

AFCA says failures to respond to a request for assistance, and insurance claims denial topped the list for issues. 

General Insurance claims accounted for 30% of complaints by product line, with 5236 registered, while 154 disputes were lodged concerning life insurance in the three-year period. 

NSW and Victoria recorded the most complaints by state, with 5206 and 5147 respectively. 

AFCA Chief Ombudsman and CEO David Locke says he is “grateful” that the complaint numbers were not any higher, describing the period as “a difficult time financially for many people”. 

“While not seeking to downplay what people went through – every complaint matters – we received far fewer COVID-related complaints than we thought might arise from the pandemic,” Mr Locke said.

“It shows what’s possible when firms and consumers talk to each other. We hope financial firms have a similar mindset as we face new challenges amid rising interest rates and cost of living pressures.”

AFCA says it has concluded 97% of all covid-related complaints, with about 79% of cases resolved by agreement or in favour of the complainant.