BRN011-00 Notes_2

FMA

________ independently and impartially resolves disputes brokers & other financial services providers.

IFSo

________ independently and impartially resolves general insurance disputes between consumers and participating companies, which include insurers and other financial services providers.

Dispute

________ is a complaint that the service provider has failed to resolve to the customers satisfaction.

IFSO Scheme

Stage 3 Resolution: ________ will decide how to resolve the complaint (Negotiation, conciliation & mediation) Stage 4 Decision: The case manager may help the customer to resolve their complaint through discussions with the participant (AKA settlement)- if it can not be settled case manager will make a decision.

IFSO

The ________ was originally established by the insurance industry as an independent dispute resolution scheme for its customers.

Stage 1 make a complaint

when a customer wishes to make a complaint to the IFSO Scheme, they need to complete a complaint form and send it, along with a notice of deadlock & other relevant documents, to the IFSO Scheme

Stage 2 Investigation

After complaint is accepted for investigation, an IFSO Scheme Case Manager will contact the customer, consider info provided by; customer, participant & (if required) any expert advice

Not all disputes can be referred to FMA

dispute must be in reference to the legislation they enforce