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Policy Priorities and Campaigns

Policy priorities and campaigns

Our policy and campaign work integrates with our hotline advice and casework, both from our financial counsellors and our solicitors.

We aim to identify systemic issues that contribute to financial hardship and consumer detriment, and then develop law reform, advocacy and educational responses.

We promote reforms in regulation, policy and industry practices that will help create a fairer marketplace for consumers, particularly disadvantaged consumers.

Financial Rights makes submissions to government and industry, participate in working groups, comment on draft legislation, undertake research, refer unfair practices and systematic issues to regulators and/or industry groups for investigation, and raise awareness through the media.

We also provide a range of publications including landmark reports, educational tools, webinars and newsletters to keep consumers and professionals abreast of developments in key policy areas.

Our policy priorities

Financial Rights recognises that there is a vast range of policy issues that impact consumer in financial stress. We must prioritise the issues on which we work to ensure that our resources are used strategically, efficiently and for the benefit of disadvantaged consumers.

While we will ensure we remain responsive to consumer policy issues and debates as they arise, we will retain our focus on the following priority areas during 2023-2024.

Financial Rights’ policy activities are funded by NSW Fair Trading, NSW Attorney General and ecstra.

Primary priorities

1. Pricing transparency in general insurance
Mitigation should be reflected in premiums; consumers need an independent pricing monitor

2. General insurance claims handing
Improving the insurance code of practice, lifting industry practice and promoting enforcement

3.Debt Management Services/Debt Agreements/Untrustworthy Advisers
Advocating for conduct rules and better oversight & enforcement

4. General Insurance Standard Definitions
Standardising fairer natural hazard definitions, wear and tear and related clauses

Secondary priorities

  1. Credit reporting
  2. CentrePay
  3. Bankruptcy
  4. Life Insurance

Supporting priority

  1. Solar on Credit
  2. Scams
  3. Buy Now Pay Later
  4. Strata Hardship

Enduring priorities

  1. Mortgage Stress and financial hardship)
  2. Responsible Lending

Enablers/Priority lenses

  1. Financial Abuse
  2. First Nations perspective
  3. Unfair Data and Technology use

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Claudia was comprehensive in her investigation of my pds and clearly communicated what my rights are and potential next steps. I have clear next steps to respond to the insurer in this case. Claudia helped to remove the emotional charge for me from this ongoing insurance issue and given me clear steps to resolution. Thank you so much.