Insurance Brokers Disputes (IBD), the independent body handling complaints against brokers, is to share a common IT system and staff with the Banking & Financial Services Ombudsman (BFSO).

The Australian Securities and Investments Commission (ASIC) requires IBD to be independently reviewed every three years. The latest review, which came up with 27 recommendations, was finalised last November. The IBD board agreed to the changes “while maintaining its position that IBD is a fundamentally sound scheme and is providing a very worthwhile service to both brokers and their clients”.

The main changes include the move by July towards a new case information management system, operated by the BFSO and shared by most of the other major complaints facilities.

IBD and BFSO will also share staff resources, including administrative staff, for handling initial complaints and general queries.

The current IBD GM position held by Daniela Kirchlinde will be replaced by a full-time Complaints Manager employed on a shared basis with the BFSO.

Fiona Ottey, formerly employed by Phillips Fox, has been appointed to the position. She starts next month.

Ms Kirchlinde has been appointed to the position of Compliance Manager on a part-time basis.

Ms Kirchlinde told Sunrise Exchange News she’s pleased with the shift in roles. “I’ll be looking after the managing, reporting and compliance tasks but not the initial complaints-handling.

“This represents a better sharing of staff resources.”

In addition to these changes, the IBD board has also proposed an increase to IBD’s limit for complaints from $50,000 to $100,000 per event, effective from May 4. Professional indemnity PI insurers are expected to approve the change next month.