Add-On Insurance
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Treasury released an email and associated fact sheet from the Australian Financial Complaints Authority (AFCA) regarding add-on insurance complaints. The email, dated 14 February 2025, notified Treasury and other recipients that AFCA would issue updated guidance on add-on insurance, including a revised fact sheet, webpage content, and member communications. The guidance establishes a deadline of 30 June 2025 for lodging complaints related to add-on insurance purchased before July 2019, based on "reasonable awareness of loss" timeframes. AFCA commits to referring complainants back to financial firms for initial resolution attempts and requires firms to formally articulate jurisdictional objections with detailed submissions and supporting information. The email emphasizes AFCA's commitment to ensuring consumer access to external dispute resolution.
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