The country’s largest insurance companies will be forced to invest more on staff and technology systems after the corporate regulator identified widespread problems dealing with angry customers.
Insurers had failed to identify one in every six customer complaints, denying them important protections under dispute resolution frameworks, according to an audit on complaints handling by the Australian Securities and Investments Commission.
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James Eyers writes on banking, finance, payments, regulation and emerging technologies. Based in Sydney, he is a former legal and investment banking editor at the AFR and has been a business journalist for more than 20 years. Email James at jeyers@afr.com.au
