The Australian Financial Complaints Authority (AFCA) has warned financial firms must continue to resolve issues quickly as some customers face increasing pressures with the winding back of Government COVID-19 support measures.

“The most difficult time for some people may well be ahead as measures like the JobKeeper wage subsidy will be phased out on March 28,” AFCA COO Justin Untersteiner said.

“It is really important that financial firms continue to listen to and communicate with their customers in the next 12 months.”

AFCA said last week it had received a total of 11,482 virus-related complaints between March 3 last year and the end of last month. Some 88% have been resolved.

Credit disputes accounted for 41% of the total, followed by general insurance with 37%, then superannuation with 11%, deposit taking with 5%, payment systems with 4% and investments and life each accounting for 1%.

The COVID-related complaints represented about 15% of the total received over the 12-month period.

Travel was the most disputed product, with 3516 complaints received, although the rate fell sharply as people remained at home.

AFCA says travel represented 83% of general insurance COVID complaints, while loss of profits/business interruption, comprehensive car cover and landlords’ insurance accounted for 3% each. Home building represented 2% of the COVID insurance complaints.