Problems calculating the excess
Pradeep’s items were likely stolen on multiple occasions, making calculating the excess impossible. The insurer agreed to take a ‘fair and reasonable’ approach to conclude the claim.
Topic: Financial advisers and brokers
Compensation for delay in progressing a loan application
Fetu complained that his mortgage adviser failed to progress his mortgage application after he provided all the necessary information. He wanted $90,000 compensation – but what was a fair outcome?
FSCL helps the parties reach a fair outcome
Kevin complained that his lender didn’t follow an instruction to fix his home loan interest rate. The lender agreed to settle – but what was a fair outcome?
But I got a better offer!
Joe had been working with a mortgage adviser for over a year when he received a loan offer from a bank directly. Joe accepted the bank’s offer because it was higher than any offer his adviser had obtained, but the adviser then charged Joe a $2,500 fee – was this fair?
Service fee from mortgage adviser
Ruby questioned whether a service fee could be charged by her mortgage adviser when she did not accept the loan offer he presented.
Gap in consumer protection
When Chan claimed against an insurance policy, he discovered that the insurer was not a member of a dispute resolution service.
Mortgage adviser charges clawback fee
Lui and Fiafia were shocked when they received a $3,500 invoice from their former mortgage adviser
Crowdfunded investments are high risk
Hemi purchased shares in a small business. Four years later, he asked the crowdfunding provider he used to buy the shares to help him sell them. Did the crowdfunding provider have to help Hemi?
The reinstatement of policies falls through the cracks
Elenoa was diagnosed with a brain tumour and then discovered she didn’t have a trauma policy in place, that she thought she’d reinstated.
Insurance not placed
Sione’s insurance broker did not notice Sione’s home insurance was not placed after a delayed settlement date due to Covid-19
