Customer complaints about home and motor insurance have surged as the industry faces a wave of payouts for floods and storms.
Customer complaints about home and motor insurance have surged as the industry faces a wave of payouts for floods, storms and other natural disasters, which has led to delays in sorting out claims.horror year of natural disasters
Complaints about insurers have increased amid a wave of natural disasters including this year’s catastrophic East Coast floods.Complaints flowing from natural disasters, such as this year’s catastrophic flooding NSW and Queensland and Victoria’s earthquake last September, more than doubled to 1586 over the year, up from 653, AFCA said.
AFCA said while many insurers had allocated staff to deal with the influx of natural catastrophe claims, this appeared to have created delays in sorting out other types of claims. The number of complaints about delays in claims handling across all general insurance products jumped by more than 50 per cent, to 4804 during the year.
The big four banks accounted for almost 20,000 complaints, a rise of almost 10 per cent. The top four insurers accounted for 9400 complaints.AFCA chief ombudsman David Locke said insurance companies faced challenges in resolving claims due to shortages of building materials, parts, and labour, but he was nonetheless concerned by the number of disputes making their way to AFCA.
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