Business
ASIC probing long wait for insurance payouts – The Australian Financial Review
Only a few small businesses have lodged claims for coverage they paid for – and the way it has been handled by the sector is only part of the problem.
A year on, fewer than 3000 claims less than 1 per cent of potential claims have been lodged, prompting ASIC, which has been working with the Australian Financial Complaints Authority (AFCA) as well as the Council of Financial Regulators, to find ways to get the numbers higher.
It comes as a number of businesses face imminent collapse as a series of life-support policies come to an end, including JobKeeper, debt deferrals and rent-relief programs.
The message from ASIC to organisations, including…
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