14 January 2022 - When the rubber hits the road – making insurance claims under the new reforms

A new chapter in the history of insurance in Australia began on 1 January 2022 when the claims handling and settling service reforms came into full force. Persons who provide claims handling and settling services are now required to hold an AFS licence. This means that they must comply with the obligations owed by a person licensed to provide financial services. This includes ensuring those financial services are provided in an efficient, honest and fair manner.