LLOYD'S COMPLAINTS POLICY

About Lloyd’s

Lloyd’s is the world’s specialist insurance and reinsurance market, bringing together an outstanding concentration of underwriting expertise and talent.

In Australia, Lloyd’s is proud to be a member of the Insurance Council of Australia. Lloyd’s has adopted the General Insurance Code of Practice subject to certain specific qualifications. You can obtain a copy of the code at codeofpractice.com.au.

Our aim is to provide the highest service to our Australian policyholders and, to this end, we have developed the following procedures for the fair handling of complaints from Lloyd’s policyholders.

How can we help you?

There are established procedures for dealing with complaints and disputes regarding your policy or claim. Policyholders may be able to take advantage of the complaints service, as may third party motor vehicle claimants who are uninsured and where the amount in dispute is less than $15,000.

Stage 1

Any enquiry or complaint relating to a Lloyd’s policy or claim should be addressed to either your Lloyd’s insurance intermediary (“the coverholder”) or to the administrator handling your claim in the first instance – in most cases this will resolve your grievance.

They will respond to your complaint within 15 business days provided they have all necessary information and have completed any investigation required. Where further information, assessment or investigation is required, they will agree to reasonable alternative timeframes with you. You will also be kept informed of the progress of your complaint.

Stage 2

In the unlikely event that this does not resolve the matter or you are not satisfied with the way your complaint has been dealt with, you should contact:

Lloyd’s Australia Limited
Level 9, 1 O’Connell Street
Sydney NSW 2000
Telephone: (02) 8298 0783
Email: idraustralia@lloyds.com 

 We will usually require the following information: 

• Name, address, and telephone number of the policyholder;
• Details of the policy concerned (policy and/or claim reference numbers, etc);
• Details of the insurance intermediary through whom the policy was obtained;
• Reasons why you are dissatisfied;
• Copies of any supporting documentation you believe may assist us in addressing your dispute appropriately.

Following receipt of your complaint, you will be advised whether your matter will be handled by Lloyd’s Australia or the Lloyd’s Complaints team in the UK, or what other avenues are available to you:

• Where your complaint is eligible for referral to the Financial Ombudsman Service Australia (FOSA) or Australian Financial Complaints Authority (AFCA), your complaint will generally be reviewed by a person at Lloyd’s Australia with appropriate authority to deal with your dispute. 
• Where your complaint is not eligible for referral to FOSA or AFCA, Lloyd’s Australia will refer your complaint to the Lloyd’s Complaints team in the UK if it falls within the jurisdiction of the UK Financial Ombudsman Service. They will review your complaint and liaise directly with you. 
• For all other matters you will be advised of what other avenues may be available to you.

AFCA is an independent body that operates nationally in Australia and aims to resolve disputes between you and your insurer. AFCA provide fair and independent financial services complaint resolution that is free to consumers. Your dispute must be referred to AFCA within 2 years of the date of our final decision. Determinations made by AFCA are binding upon us. 

Customers not eligible for referral to AFCA, may be eligible for referral to the UK Financial Ombudsman Service. Such referral must occur within 6 months of the final decision by the Complaints team at Lloyd’s. Further details will be provided with their final decision to you.

How much will this procedure cost you?

This service is free of charge to policyholders.