FOS compares insurer disputes
The Financial Ombudsman Service (FOS) has released tables comparing insurers’ performance in relation to the likelihood of consumer disputes.
The tables, which were published early this afternoon, cover the past financial year and are broken down into product categories.
FOS says they will help consumers decide which insurer to buy particular products from, and will also assist financial services providers in comparing and assessing their own performance.
For home building insurance, Hollard had the most disputes (44.6 per 100,000), followed by Auto & General (35.3). The best were Strata Unit Underwriters and Teri Scheer, both with 5.1 disputes per 100,000.
In home contents, Hollard and Auto & General again had the most disputes, scoring 11.9 and 11.7 respectively. RACQ (2) and CGU (2.4) led the way.
In motor AI Insurance suffered the most disputes by some distance (101.3), followed by Hollard (44.2). RAC-WA (1.9) and Zurich (3.8) had the fewest.
For travel insurance it was once again Hollard suffering the most disputes (26.9), followed by Mitsui Sumitomo (25.4).
Life insurance disputes were most common at Suncorp Life (19.7) and OnePath Life (14), while Metlife (0.3) and AIA Australia (0.7) had the fewest.
Click here to view the tables in full.