AFCA offers support to bushfire victims
The Australian Financial Complaints Authority (AFCA) has announced dedicated support for bushfire victims across New South Wales, South Australia and Victoria and established bushfire support information hub.
Through the hub, AFCA said it would explain the financial recovery support AFCA could provide to families and small businesses impacted by the Australian bushfires.
“The devastating nature of these fires is horrifying, and our thoughts are with the consumers and small businesses impacted. It’s important that we ensure these communities have timely support and relevant information about financial recovery, and can get financial issues addressed quickly,” AFCA’s executive general manager, customer service and resolution, Rob Guest, said.
He encouraged the bushfire victims to contact their insurer or broker to start the claims process and document damage when it was safe to do so, by taking photos or making notes.
“If you have any difficulty in getting your claim assessed, you can come to AFCA. We have special processes that identify and expedite complaints from people in the impacted communities, and we can assist you to resolve any complaints with your financial firm as quickly as possible,” Guest added.
Beyond problems relating to insurance and claims, AFCA said it was also expecting that many people would suddenly be facing financial hardship, stressing that small businesses had been lost or were currently inoperable.
Guest said he wanted to make sure people were aware of AFCA and its service and that they knew to reach out to AFCA if needed.
“If you find yourself having trouble with your insurer or financial provider about your claim or request for hardship assistance, you can talk to AFCA to get help,” he said.
AUTHOR
Oksana Patron
Recommended for you
Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand.
The third quarter of 2024 saw the first positive increase in adviser numbers for 12 months, according to the latest quarterly Musical Chairs report, with new entrants overwhelmingly choosing to join privately owned firms.
As more advisers review their fee structures, Business Health has shared six steps to calculating the price to deliver financial advice services in a profitable yet suitable way.
ASIC’s Sarah Court has confirmed the regulator is carrying out systematic work on providers of unlicensed advice but admits it is a case of “whack-a-mole” when it comes to disciplining them.
