The Australian Financial Complaints Authority (AFCA) has activated its significant event response plan for the NSW storms and floods.

The plan is activated for events that can potentially result in a significant number of complaints coming to AFCA and provides for early communication and a more streamlined and expedited process for dispute resolution.

AFCA’s move follows the Insurance Council of Australia declaration on July 5 of a significant event.

The ombudsman service also notes that the General Insurance Code of Practice provides a cooling off period for natural catastrophe claims.

If an insurer is a code member and finalised a claim within one month of a natural catastrophe or disaster, the policyholder has a six-month period to check whether the claim included everything that was lost or damaged.