ASIC letter to general insurers about severe weather events
7 November 2022
ASIC has written to general insurers about insurance claims and severe weather events.
The letter outlines:
- ASIC’s expectations of general insurers’ obligations to act efficiently, honestly and fairly in handling and settling claims;
- More specifically ASIC’s expectations that insurers be prepared, proactive, transparent, consumer-centric, and responsive in meeting their general obligations as Australian Financial Services (AFS) licensees in claims handling; and
- Preliminary observations from ASIC’s project looking at the consumer experience in home insurance claims.