Insurance Enquiries & Complaints will share back-office functions with two other financial services dispute resolution schemes, the Australian Banking Industry Ombudsman and the Financial Industry Complaints Service. 

The announcement came after the IEC Annual Review revealed that referrals to the scheme had increased from 2325 in 2000 to 2543 in 2001, showing a rise of 9%. IEC Chief Executive Sam Parrino pointed out that as a measure of the schemes’ efficiency, outcomes or resolutions increased by 14.6% from 2196 to 2516.