FINANCIAL OMBUDSMAN SERVICE (FOS)

(or Insurance Brokers Disputes Limited prior to 1st January 2009) is a free consumer service designed to handle complaints and help resolve problems between insurance brokers and other financial services providers (other than insurance companies) and their clients.

FOS provides support to help you resolve problems quickly and efficiently, without having to resort to costly litigation.

Anyone who has a problem with their insurance broker or financial service provider concerning a general or life insurance policy can contact FOS.

FOS covers a range of policies including motor vehicle, home buildings and contents, sickness and accident, life, consumer credit, travel, personal and domestic property up to a claim limit of $50,000 (effective from 1/5/2007 this will have been increased to $100,000). FOS also handles complaints regarding small business pak policies up to a claims limit of $5,000.

Some cases, such as those already involved in legal proceedings, are not handled by FOS, nor does FOS handle disputes involving claims of more than the respective claim limit (ie $50,000 / $5,000), except where the insurance broker or financial service provider and its professional indemnity insurer have agreed to waive this limit. For clarification regarding FOS scope, please refer to our Terms of Reference.

If you have any query about whether your complaint can be handled by FOS, please contact them as below:

Address: Financial Ombudsman Service, GPO Box 3, Melbourne, VIC 3001
Toll Free: 1300 780 808
Phone:     03 9613 7366
Fax:        03 9613 6399
Web:       www.fos.org.au
Email:     info@fos.org.au