Annual Review 2021–22

Significant events

AFCA activates significant event response plans for events that could potentially result in large numbers of related complaints being lodged with AFCA, such as natural disasters and severe weather events.

The significant event response plan provides for early communication with relevant stakeholders, and a more streamlined, expedited process for the resolution of related complaints.

AFCA also regularly engages with industry including ASIC, the Federal Treasury and APRA, as well as industry representatives, such as the ICA, to ensure our approach to handling these disputes is appropriate.

In the last financial year, AFCA activated three significant event response plans to support those directly impacted.

These related to:

  • Victorian earthquakes – September 2021
  • South Australia, Victoria and Tasmania severe storms – October 2021
  • South East Queensland and New South Wales severe weather and flooding – February 2022.

In total, AFCA received 5,202 complaints related to significant events in 2021–22 (including those related to significant events that had been declared in previous financial years). This is significantly down on the previous year’s numbers, where we received 9,097 complaints about significant events, which can be attributed to the decrease in COVID-19 complaints.

However, the majority of 2021–22 significant event complaints (3,552) still related to COVID-19, which was declared a significant event in 2019–20.

COVID-19

3,552 complaints received. Down 57% from previous year

3,939 complaints resolved

1,142 complaints related to financial difficulty

Top five issues in complaints

Issue

Total

Financial firms’ failure to respond to request for assistance

721

Repayment history information

337

Decline of financial difficulty request

311

Service quality

282

Default listing

252

Victorian earthquakes – September 2021

382 complaints received

167 complaints resolved

Top five issues in complaints 1

Issue

Total

Denial of claim – exclusion /condition

229

Delay in claims handling

81

Denial of claim

49

Claim amount

26

Service quality

11

Denial of claim – no proof of loss

11

South East Queensland and New South Wales severe weather and flooding – February 2022

456 complaints received

198 complaints resolved

12 complaints related to financial difficulty

Top five issues in complaints

Issue

Total

Delay in claims handling

210

Denial of claim – exclusion /condition

107

Claim amount

83

Service quality

22

Denial of claim

19

South Australia, Victoria and Tasmania severe storms – October 2021

161 complaints received

102 complaints resolved

Top five issues in complaints

Issue

Total

Delay in claims handling

67

Claim amount

50

Denial of claim – exclusion /condition

34

Denial of claim

14

Service quality

12

 

1 Two issues in equal fifth position.

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