Consumer confusion over the insurance industry’s alternative dispute resolution scheme should be addressed by changing IEC’s name to the “Insurance Ombudsman”, Mr Daly told the conference.

“I know it is controversial, but I think the time has come to seriously consider changing the name of the scheme,” the former ICA chief executive told today’s Sydney conference. “The term ‘insurance ombudsman’ defines very clearly for the public exactly what IEC does.”

He said the “ombudsman” term is easily understood by the public, and would help IEC do its job more efficiently. “If it… promotes consumer confidence in insurance, there seems little point in not making the move.”