New Zealand's Financial Markets Authority is urging insurers, including Insurance Australia Group (ASX:IAG), QBE Insurance Group (ASX:QBE), and Tower (ASX:TWR, NZE:TWR) to review and amend their claim processes following consumer complaints relating to delays and the experience of the process after an extreme event, according to a Wednesday statement by the regulator.
The FMA, in a review, identified six areas in the process that need improvement, including communication, oversight, support for vulnerable customers, resourcing, and complaints handling.
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