Tag archives: dispute resolution

ASIC consults on new IDR ideas

The Australian Securities and Investments Commission (ASIC) has released Consultation Paper 311 seeking input from interested parties on 15 proposals that will change the way Australian Financial Services Licence (AFSL) holders conduct and report on internal dispute resolution (IDR)  processes. Submissions close on 9 August 2019, with the final revisions to Regulatory Guide 165: Internal … Continue reading

New super ombudsman AFCA commences operation today

Starting 1 November 2018, the Australian Financial Complaints Authority (AFCA) replaces the Financial Ombudsman Service (FOS), Credit and Investments Ombudsman (CIO) and the Superannuation Complaints Tribunal. The AFCA is now the ASIC approved External Dispute Resolution (EDR) scheme for consumer and small business complaints for Australian financial and credit industries. All financial firms should now … Continue reading

5 avenues for resolving indemnity disputes without protracted litigation

When an insurer and an insured disagree on the outcome of a claim under an insurance policy, a well-managed dispute resolution process can offer cost-efficient, impartial and quick resolution of coverage disputes.  Here are five different avenues for resolving indemnity disputes without protracted litigation: 1. Dispute resolution clauses  A well-drafted dispute resolution clause in an … Continue reading