Following the Australian Consumers Insurance Lobby's (ACIL) recent referral of 146 instances of questionable practices in the Strata Insurance industry to ASIC & ACCC, a nationwide call to action has been initiated to gather comprehensive insights and experiences directly from the community. This initiative aims to catalyse a transformative shift towards transparency, accountability, and fairness in the Strata Insurance sector.
ACIL is leveraging the momentum from the overwhelming response to its revelations to introduce a detailed survey. This effort seeks to document the breadth of questionable activities and the impact they have on individuals, businesses, and the industry at large. "Our objective is to compile a robust evidence base that can inform advocacy for meaningful change and industry reform and ensure that the push for transparency and reform isn't solely carried by ACIL," said ACIL Chairperson Tyrone Shandiman.
The call extends beyond individuals to businesses and other entities that have borne the brunt of illicit practices within the Strata Insurance landscape. "We are particularly eager to hear from businesses that have suffered due to these practices and industry insiders including current and former employees of strata managers, insurance brokers and or other related businesses.," Mr Shandiman emphasised.
ACIL assures complete confidentiality for participants, offering anonymity to those who wish to share their experiences without disclosure of their identity. "We understand the sensitivity of this information and are committed to ensuring the privacy and security of our respondents. Participants have the option to contribute their insights anonymously, with the assurance that their information will be handled with the utmost discretion." Mr Shandiman said.
The survey represents a crucial step towards rectifying longstanding issues within the Strata Insurance sector. Every voice counts. Your story could be the catalyst for significant change, safeguarding others from misconduct and promoting a culture of integrity within the industry. ACIL invites all affected parties to come forward and share their experiences, contributing to a collective effort to enhance the Strata Insurance landscape for the better.
The form will be open until 3rd April 2024. ACIL urges individuals and businesses alike not to miss this pivotal opportunity to contribute to a safer, more transparent, and equitable Strata Insurance industry.
The survey is accessible by the link below:
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