Urgent government action needed to make home and contents insurance accessible and affordable New research from a coalition of advocacy groups has found the home and contents insurance market is failing to protect people against extreme weather events, with customers struggling to access and afford the insurance they need. The…
Insurers must stop misusing “wear and tear” or lack of maintenance as a reason for denying property claims, Financial Counselling Australia (FCA) says. FCA, the peak body for financial counsellors, was responding to a report by the General Insurance Code Governance Committee (CGC) which found “too many insurers” were using…
Buy Now Pay Later (BNPL) use has ballooned over the past year, with soaring numbers of people resorting to the unregulated credit for basics, such as food, fuel and energy, as Australians struggle with cost-of-living pressures. In a survey of more than 500 financial counsellors (around half the sector), 95…
The implementation of gambling self-exclusion register, BetStop, is a game-changer for people ready and willing to stop gambling online, according to Financial Counselling Australia (FCA). FCA’s director of Policy and Campaigns Lauren Levin said the move confirmed the nation was “on the cusp of a new era where Australians will…
Financial Counselling Australia (FCA) welcomes the recommendations made by a Government inquiry into online gambling harm, saying the committee has heard the concerns of financial counsellors and the community, and responded. FCA’s director of Policy and Campaigns Lauren Levin said: “The inquiry’s recommendations are a huge step forward and will…
Consumer groups and the financial counselling sector have welcomed the launch of a new customer code for the energy sector. The Knock to Stay Connected customer code requires network companies to visit people at risk of disconnection and encourages them to outline the support and referral services available if the customer…
Consumer groups and financial counsellors have said that the Government’s plans for regulation of the buy now, pay later (BNPL) sector announced today will need to include strong requirements for lenders to ensure that loans are safe and suitable regardless of the size of the loan in order to protect…
Financial Counselling Australia (FCA) has welcomed the progress that the Federal Government is making on an industry funding model for the financial counselling sector. This innovative model would see companies from the financial services, energy, telco and gambling sectors contribute money to fund financial counselling services. The funding would be…
Quotes attributable to Bettina Cooper, Boandik woman, Save Sorry Business Coalition coordinator and Aboriginal financial counsellor at Mob Strong Debt Help “It is over 30 years since Youpla started targeting First Nations communities with misleading practices, selling them funeral insurance marketed as a funeral fund. It is over 20 years…
Financial Counselling Australia (FCA) welcomes the announcement by the Government that it will ban the use of credit cards for online gambling. “We should never have to discuss credit cards and gambling in the same sentence ever again,” said Lauren Levin, FCA’s Director of Policy and Campaigns. Financial counsellors see…