The life insurance industry’s new code of practice is a modest step but much more work is needed to deliver good consumer protection, say Financial Rights Legal Centre and Consumer Action Law Centre. “The life industry is rightly under intense scrutiny, and an industry code of practice should deliver high standards when selling insurance and deciding people’s claims,” said Gerard [ More ]
For media enquiries please call Drew MacRae on 0404 604 978 or email drew.macrae@financialrights.org.au or contact us via Twitter @Fin_Rights_CLC Financial Rights’ can provide comment on a range of debt, credit and insurance related issues for print, radio, television or the internet. We can provide expert commentary on issues facing consumers of financial services, offer detailed background information and, where [ More ]
Almost a quarter of all calls to the Insurance Law Service hotline are about insurance investigations, raising serious concerns about tactics used by general insurance companies in claims handling and assessment. This is one of the key findings in a new report Guilty until Proven Innocent: Insurance investigations in Australia released today by the Financial Rights Legal Centre. The Report details [ More ]
MEDIA RELEASE Thursday, 3 March 2016 As Australians face over $1 trillion personal debt crisis, advocates warn about ‘debt vultures’ With ABS data showing that Australians are living with over $1 trillion of personal debt, consumer advocates are warning that an emerging industry of ‘debt vultures’ is making things worse. Debt vultures (known by regulators and industry as ‘debt management firms’) [ More ]
Angelo Risso, AAP, Yahoo News Australians are warned they risk being trapped in debt as they flock to the short-term relief of payday loans in record numbers, with applicants jumping by over 200 per cent this year. As households look for a Christmas cash injection, the consumer advocacy website finder.com.au found Australians took out 227 per cent more loans in [ More ]
