Comparative Tables Final Report

Transcription

1 Comparative Tables Final Report Introduction What are the Comparative Tables? The Comparative Tables present disputes statistics about financial services providers (FSPs) that are members of the Financial Ombudsman Service (FOS). The tables are produced annually as part of ASIC Regulatory Guide 139, which requires that external dispute resolution schemes like FOS publish comparative data. The tables provide three types of information about each listed FSP: Average Length in Resolution 3. Outcomes analysis for the Dispute Resolution Process. The Comparative Tables Member User Guide provides additional information, including a Comparative Tables Glossary and statistical definitions. What are the benefits of publishing Annual Comparative Tables? Consumers are able to find out how likely other consumers were to bring a dispute about a particular product from a particular FSP. They can also access information on the outcomes of disputes involving particular FSPs. The data might assist a consumer when they are deciding which FSP to acquire a product from. Financial services providers are able to compare their disputes performance to that of other FOS members, which will help them to set targets for their businesses and direct their resources into the right areas. This should assist them to build their complaints handling systems and broader customer service programs, ultimately strengthening their relationships with their customers. How can I learn more about the tables? This document provides information on the 2012 Comparative Tables and includes a full list of the tables and key assumptions used to prepare each tables. Additional information is available in the Comparative Tables User Guide, including: Glossary definitions of all the key terms used in the tables Frequently Asked Questions answers to the questions you are likely to have as you view and interpret the tables FSPs Reconciling the Comparative Tables Reports and running FOS Secure Services Comparative Table reports FOS Comparative Tables 2012 Final Report Page 1 of 10

2 Disclaimers Disclaimer for all tables The Financial Ombudsman Service (FOS) has taken every care to create a sound basis for presenting the data in the Comparative Tables. The preparation of the tables was based on business information provided by the relevant financial services providers (FSPs). That information has not been independently verified by FOS. While we have every confidence in the responses provided by our members, we also note that there is some margin for inconsistency in the ways in which our requests have been interpreted, primarily because of differences in the structure of FSPs business operations. When considering these tables, please do not rely upon the data as the sole basis for any financial decision-making. Consumers should seek advice before making financial decisions. To the extent permitted by law, FOS accepts no liability for any losses arising out of improper use, or release, of this information. Statistical note for all tables All the percentages in the Outcomes of the Resolution Process columns have been rounded to the nearest whole number. Because of this rounding, the sum of the percentages for a particular financial services provider in a particular table might not be exactly 100%. Members Pending Cessation and Ceased The 2012 tables have identified all members who either (i) Ceased their FOS membership during the reporting period 1 st July 2011 to 30 th June 2012 or were categorised as (ii) Pending Cessation as at the 30 th June Members are required to advise in writing of their intention to cease their FOS membership. Once notified, the member serves a 12 month notice period. During the 12 month notice period FOS will continue to accept disputes against this member. Once the member has served the 12 month notice period they are categorised as Ceased at which time FOS will no longer accept disputes against the member. Note The Chief Ombudsman may approve a waiver of the standard 12 month notice period. For additional information please refer to the FOS Constitution (Section 3.8) available from the FOS website. FOS Comparative Tables 2012 Final Report Page 2 of 10

3 Full Comparative Tables List 1. Business Finance table We have not published any or Number of Disputes data in this table. Small Business is defined in the FOS Terms of Reference (and the Corporations Act) as a business that: a) if the business is or includes the manufacture of goods: has less than 100 employees; or b) otherwise: has less than 20 employees. Lenders record their lending to small businesses using a range of measures, including the size of the turnover of the business. As a result, not all lenders are able to report on the number of loans that have been made to businesses that come within the definition of Small Business in the FOS Terms of Reference. We are continuing to work with our members and the Australian Bankers Association to determine a consistent basis for measuring the number of small business loans our members have made. 2. Consumer Loans table Complaints about debt collectors and buyers may include complaints that ultimately are found to be about the actions of the original credit provider. This means that the figures for debt collectors and buyers in this table may overstate the chance that a customer of one of these businesses will have a dispute about their debt collection activity. ACM Group Ltd, Credit Corp Services Pty Limited, NCO Finance (Australia) Pty Ltd and and Nissan Financial Services Australia Pty Ltd have ceased FOS Membership. Bank of Melbourne was not able to provide business size to calculate a Chance number because it commenced its business on 9 September 2011 and did not have a business size on 30 June People s Choice Credit Union is the trading name for Australian Central Credit Union. FOS Comparative Tables 2012 Final Report Page 3 of 10

4 3. Credit Cards table Complaints about debt collectors and buyers may include complaints that ultimately are found to be about the actions of the original credit provider. This means that the figures for debt collectors and buyers in this table may overstate the chance that a customer of one of these businesses will have a dispute about their debt collection activity. ACM Group Ltd and Credit Corp Services Pty Limited have ceased FOS Membership Bank of Melbourne was not able to provide business size to calculate a Chance number because it commenced its business on 9 September 2011 and did not have a business size on 30 June Credit Insurance table The Credit Insurance table includes policies that are applicable to a credit product and sold on the basis of supporting that product. The table does not include other insurance policies that might be used to support a credit product eg. Temporary and Permanent Disability Insurance 5. Deposit Taking/Payment Systems table Business Transaction Accounts are included in this product category. FOS members use different definitions for identifying small business customers and this may affect their interpretation of the number of accounts they hold and therefore their Chance of a figure. Bank of Melbourne was not able to provide business size to calculate a Chance number because it commenced its business on 9 September 2011 and did not have a business size on 30 June People s Choice Credit Union is the trading name for Australian Central Credit Union. FOS Comparative Tables 2012 Final Report Page 4 of 10

5 6. Derivatives / Hedging & Securities This table includes FSPs who operate investor and trading accounts covering Derivatives and other Hedging and Security Products. It also includes a number of FSPs who provide financial software and/or financial educational programs about investment trading in Derivatives and other Hedging and Security Products. The business model for these FSPs is such that the size of their businesses could not be calculated using the method we used for the other FSPs. As a result no Chance data is provided. Mark Power Financial Pty Ltd (In Liquidation), Romad Financial Services Pty Ltd and SB2 Securities Pty Limited have FOS Memberships that are Pending Cessation. Investment Educators Australia Pty Ltd and Lifestyle Investor Services Pty Ltd provide software and/or educational programs. No chance data is provided. 7. Extended Warranties table Only one FSP met the threshold of having five or more disputes in the 2011/2012 financial year. The table has been published with the omission of both the Raw Dispute numbers received and the Dispute being received. 8. Home Building Insurance table Business size data includes policies for both Home Building and Residential Strata Title policies. Cumis Insurance Society Inc. - FOS Membership is Pending Cessation 9. Home Contents Insurance table Business size data includes policies for Home Contents only, not other Personal and Domestic Property, which is captured in a separate table. ACM Group Ltd and Cumis Insurance Society Inc. have FOS Memberships that are Pending Cessation. 10. Housing Finance table Business size data includes all accounts held as at 30 th June 2011, including the following products secured by residential property: - Home Loans - Investment Property Loans - Construction Loans - Equity Release Loans FOS Comparative Tables 2012 Final Report Page 5 of 10

6 ACM Group Ltd and Credit Corp Services Pty Limited have ceased FOS Membership. Provident Capital Limited (In Liquidation) s FOS Membership is Pending Cessation. People s Choice Credit Union is the trading name for Australian Central Credit Union Bank of Melbourne was not able to provide business size to calculate a Chance number because it commenced its business on 9 September 2011 and did not have a business size on 30 June Life Insurance table Companies in this table sell and provide advice about life insurance policies that cover individuals and other policies that cover groups of people. A group policy could cover dozens of people. The business size of FSPs in this product group was measured according to: the number of policies for individuals the FSP had in force at 30 June 2011, plus for group policies the FSP had in force at 30 June 2011, the number of people covered (not the number of policies). Counting the number of people covered rather than the number of policies for group policies gives a more accurate representation of the number of people covered during the whole year and hence of the number of people who could have brought a dispute during the year. As well as Life Insurance issuers and underwriters, this table includes Financial Advisor/Planners and Banks that provide advice about life insurance but do not issue policies. The business model is such that the size of their businesses could not be calculated using the method we used for the other FSPs. As a result no Chance data is provided. Asteron Life Limited and Combined Insurance Company of Australia have ceased FOS Membership. Coverforce Pty Ltd acquired the business of Coverforce IUS Pty Ltd Coverforce Pty Ltd data represents data for both entities. FOS Comparative Tables 2012 Final Report Page 6 of 10

7 12. Managed Investments table This table may include: 1. FSPs that only provide advice about managed investment products 2. FSPs that only provide managed investment products, and 3. FSPs that provide both advice and products. Because of the difficulty of comparing these different kinds of businesses, we have developed special business size categories for this product group. Here are the categories and the criteria for applying them to financial services providers (FSPs): SMALL MEDIUM LARGE VERY LARGE FSP has less than 20 representatives (reps) or less than $100 million funds under management (FUM) FSP has 20 to 199 reps or $100 million or more but less than $1 billion FUM FSP has 200 to 999 reps or $1 billion or more but less than $20 billion FUM FSP has 1,000 reps or more or $20 billion FUM or more If a member has both advisors and funds under management (FUM) then they will go into whichever is the larger of the categories they qualify for. For example, if a member had $2 billion FUM and 1,200 reps they would be described as very large. Navra Group Pty Ltd has ceased FOS Membership. Australian Financial Services Limited, Quantum Warrants Pty Ltd (Receiver Appointed), Salisbury Group Pty Ltd (The) and Tangible Assets Financial Services Pty Ltd all have FOS Membership that is Pending Cessation 13. Margin Loans table No FSP met the threshold of having five or more disputes in the 2011/2012 financial year, with result that there is no table published for Margin Loans. 14. Medical Indemnity table No FSP met the threshold of having five or more disputes in the 2011/2012 financial year, with result that there is no table published for Medical Indemnity. FOS Comparative Tables 2012 Final Report Page 7 of 10

8 15. Motor Vehicle Insurance table Insurance companies sell motor vehicle insurance policies that cover both individuals and businesses or groups of people for example, for company fleets. This table includes disputes about domestic policies for individuals. Accordingly, the business size of financial services providers (FSPs) in this product group was measured according to the number of domestic policies for individuals the FSP had in force at 30 June Disputes about commercial motor vehicle policies are included in the Small Business / Farm Insurance table. Cumis Insurance Society Inc. - FOS Membership is Pending Cessation 16. Personal and Domestic Property Insurance table Table excludes disputes brought against Home Contents Insurance policies as these items captured in the Home Contents Insurance table. 17. Professional Indemnity Insurance table No FSP met the threshold of having five or more disputes in the 2011/2012 financial year, with result that there is no table published for Professional Indemnity Insurance. 18. Sickness and Accident Insurance table Insurance companies sell sickness and accident insurance policies that cover individuals and other policies that cover groups of people for example, sports clubs. A group policy could cover dozens of people. The business size of FSPs in this product group was measured according to: the numbers of policies for individuals the FSP had in force at 30 June 2011, plus for group policies the FSP had in force at 30 June 2011, the number of people covered (not the number of policies). Counting the number of people covered rather than the number of policies for group policies gives a more accurate representation of the number of people covered during the whole year and hence of the number of people who could have brought a dispute during the year. Combined Insurance Company of Australia has ceased FOS Membership. Allianz Australia Insurance Limited and QBE Insurance (Australia) Limited were not able to identify the total number of individuals covered by their 'Group' Sickness and Accident policies. As a result no Chance data is provided. FOS Comparative Tables 2012 Final Report Page 8 of 10

9 19. Small Business/Farm Insurance table We have not published any numbers in this table. Small business is defined in FOS s Terms of Reference (and the Corporations Act) as a business that: a) if the business is or includes the manufacture of goods: has less than 100 employees; or b) otherwise: has less than 20 employees. While insurers record details of the type of insurance policies they have issued and can extract and report on this data, they do not record details about the class of customer to whom the policy has been issued. As a result, insurers were unable to report on the number of small business insurance policies and farm insurance policies that had been sold to businesses that come within the definition of small business in our Terms of Reference. We will be working with our members and the Insurance Council of Australia to determine a consistent basis for measuring the number of small business insurance policies our members have issued. 20. Superannuation table This table may include: 1. FSPs that only provide advice about superannuation 2. FSPs that only provide superannuation products, and 3. FSPs that provide both advice and products. Because of the difficulty of comparing these different kinds of businesses, we have developed special business size categories for this product group. Here are the categories and the criteria for applying them to financial services providers (FSPs): SMALL FSP has less than 20 representatives (reps) or less than $100 million funds under management (FUM) MEDIUM FSP has 20 to 199 reps or $100 million or more but less than $1 billion FUM LARGE FSP has 200 to 999 reps or $1 billion or more but less than $20 billion FUM VERY LARGE FSP has 1,000 reps or more or $20 billion FUM or more FOS Comparative Tables 2012 Final Report Page 9 of 10

10 If a member has both advisors and funds under management (FUM) then they will go into whichever is the larger of the categories they qualify for. For example, if a member had $2 billion FUM and 1,200 reps they would be described as very large. Esuperfund Pty Ltd - FOS Membership is Pending Cessation 21. Timeshare and Strata Title Schemes table Only one FSP met the threshold of having five or more disputes in the 2011/2012 financial year. The table has been published with the omission of both the Raw Dispute numbers received and the Dispute being received. Holiday Club Pacific Limited has ceased FOS Membership. 22. Travel Insurance table Insurance companies sell travel insurance policies that cover individuals and other policies that cover groups of people. A group policy could cover dozens of people. The business size of FSPs in this product group was measured according to: the numbers of policies for individuals the FSP had in force at any time between 1 July 2011 and 30 June 2012, plus for group policies the FSP had in force at any time between 1 July 2011 and 30 June 2012, the number of people covered (not the number of policies). Counting the number of people covered rather than the number of policies for group policies gives a more accurate representation of the number of people covered during the whole year and hence of the number of people who could have brought a dispute during the year. The business size of FSPs in this product group was measured in terms of the number of travel insurance policies an FSP had in force at any time between 1 July 2011 and 30 June For the other product groups, we measured business size in terms of the number of policies or accounts the FSP had in force at 30 June We have used the number of policies for a full year, rather than the number at 30 June 2011, for this product group because travel insurance policies generally only last for a few days or weeks. Taking a snapshot at 30 June 2011 or any other date would mean the data would not accurately represent the number of people covered during the whole year and hence the number of people who could have brought a dispute during the year. Zurich Australian Insurance Limited s business model includes travel insurance policies issued to financial institutions, whose card holders are third party beneficiaries. As the number of people covered by these policies cannot be identified, no Chance data is provided. FOS Comparative Tables 2012 Final Report Page 10 of 10

11 1: Business Finance Primary Business (per ) Disputes Reached FSP MEDIAN 3.6 American Express Australia Limited Credit Provider % 0% 0% 0% 30% Australia and New Zealand Banking Group Limited Bank % 1% 6% 1% 12% Bank of Queensland Limited Bank % 4% 0% 0% 8% Bank of Western Australia Limited Bank % 0% 3% 0% 6% BankSA (a division of Westpac Banking Corporation) Bank % 0% 0% 0% 0% Bendigo and Adelaide Bank Limited Bank % 8% 8% 8% 23% Capital Finance Australia Ltd Credit Provider % 0% 2% 0% 6% Citigroup Pty Limited Bank % 0% 0% 17% 0% Commonwealth Bank of Australia Bank % 1% 1% 4% 10% Esanda Finance Corporation Limited Credit Provider % 0% 0% 0% 0% Flexirent Capital Pty Limited Credit Provider % 0% 0% 0% 0% GE Automotive Financial Services Credit Provider % 4% 4% 0% 4% Macquarie Bank Limited Bank % 0% 0% 0% 10% Macquarie Leasing Pty Limited Credit Provider % 0% 0% 0% 22% Medfin Australia Pty Ltd Credit Provider % 0% 0% 0% 25% National Australia Bank Limited Bank % 6% 4% 1% 7% Rural Bank Limited Bank % 0% 50% 0% 0% St George Bank Bank % 0% 11% 0% 0% Suncorp-Metway Limited Bank % 0% 0% 0% 10% Veda Advantage Information Services & Solutions Ltd Credit Reporting Agency % 0% 0% 0% 0% Westpac Banking Corporation Bank % 4% 7% 3% 11%

12 2: Consumer Loans Primary Business (per ) Disputes Reached FSP MEDIAN A Better Chance Pty Ltd Credit Provider % 0% 0% 0% 17% ACM Group Ltd Debt Collector or Buyer % 0% 1% 0% 13% Australia and New Zealand Banking Group Limited Bank % 1% 1% 2% 8% Australian Defence Credit Union Limited Credit Union % 0% 0% 0% 0% Bank of Melbourne Bank % 0% 0% 0% 0% Bank of Queensland Limited Bank % 6% 3% 3% 6% Bank of Western Australia Limited Bank % 0% 0% 0% 6% BankSA (a division of Westpac Banking Corporation) Bank % 0% 0% 0% 0% Bendigo and Adelaide Bank Limited Bank % 0% 0% 0% 5% Capital Finance Australia Ltd Credit Provider % 0% 1% 0% 6% Citigroup Pty Limited Bank % 0% 2% 0% 3% Commonwealth Bank of Australia Bank % 0% 2% 0% 8% Community CPS Australia Credit Union % 0% 0% 0% 0% Credit Corp Services Pty Limited Debt Collector or Buyer % 1% 0% 2% 6% Credit Union Australia Ltd Credit Union % 0% 0% 0% 0% Esanda Finance Corporation Limited Credit Provider % 0% 0% 1% 5% Flexirent Capital Pty Limited Credit Provider % 0% 0% 0% 14% GE Automotive Financial Services Credit Provider % 0% 0% 3% 5% GE Personal Finance Pty Ltd Credit Provider % 0% 0% 3% 1% HSBC Bank Australia Limited Bank % 0% 0% 0% 0% Lion Finance Pty Ltd Debt Collector or Buyer % 0% 0% 0% 2% Macquarie Bank Limited Bank % 0% 0% 0% 10% Macquarie Leasing Pty Limited Credit Provider % 1% 1% 1% 2% Mercedes-Benz Financial Services Australia Pty Ltd Credit Provider % 4% 0% 0% 4% Mybudget Pty Ltd Financial Advisor / Planner % 0% 0% 0% 0% National Australia Bank Limited Bank % 0% 2% 0% 7% NCO Finance (Australia) Pty Ltd Debt Collector or Buyer % 0% 0% 0% 7% Nissan Financial Services Australia Pty Ltd Credit Provider % 0% 0% 0% 0% Once Credit Pty Limited Credit Provider % 8% 0% 0% 0% People's Choice Credit Union Credit Union % 0% 0% 0% 20% Rentsmart Pty Ltd Credit Provider % 0% 0% 0% 10% St George Bank Bank % 1% 1% 1% 6% St George Motor Finance Credit Provider % 0% 0% 0% 6% Suncorp-Metway Limited Bank % 0% 0% 0% 3% Toyota Finance Australia Limited Credit Provider % 0% 0% 1% 9% Veda Advantage Information Services & Solutions Ltd Credit Reporting Agency % 4% 0% 0% 4% Westpac Banking Corporation Bank % 1% 0% 1% 4% Yamaha Motor Finance Australia Pty Ltd Credit Provider % 0% 5% 0% 9% Zaam Rentals Pty. Ltd. Credit Provider 7 Note - FOS Membership Ceased Bank of Melbourne - was not able to provide business size to calculate a Chance Number as it commenced business on 9-Sep-11 and did not have a business size on 30-Jun-11 Peoples Choice Credit Union is the trading name for Australian Central Credit Union

13 3: Credit Cards Primary Business (per ) Disputes Reached MEDIAN FSP ACM Group Ltd Debt Collector or Buyer % 0% 1% 1% 14% American Express Australia Limited Credit Provider % 1% 2% 1% 9% Australia and New Zealand Banking Group Limited Bank % 1% 1% 2% 6% Bank of Melbourne Bank % 0% 0% 0% 0% Bank of Western Australia Limited Bank % 2% 2% 0% 9% BankSA (a division of Westpac Banking Corporation) Bank % 0% 9% 0% 9% Bendigo and Adelaide Bank Limited Bank % 0% 4% 0% 4% Citigroup Pty Limited Bank % 1% 0% 1% 7% Commonwealth Bank of Australia Bank % 1% 0% 2% 3% Credit Corp Services Pty Limited Debt Collector or Buyer % 1% 1% 2% 9% GE Capital Finance Australia Credit Provider % 1% 0% 0% 4% HSBC Bank Australia Limited Bank % 0% 0% 0% 5% Lion Finance Pty Ltd Debt Collector or Buyer % 0% 0% 0% 4% Macquarie Bank Limited Bank % 0% 0% 0% 4% National Australia Bank Limited Bank % 0% 0% 0% 3% St George Bank Bank % 1% 0% 1% 4% Veda Advantage Information Services & Solutions Ltd Credit Reporting Agency % 0% 0% 0% 25% Westpac Banking Corporation Bank % 0% 0% 0% 3% Note - FOS Membership Ceased Bank or Melbourne - was not able to provide business size to calculate a Chance Number as it commenced business on 9-Sep-11 and did not have a business size on 30-Jun-11

14 4: Credit Insurance Primary Business (per ) Disputes Reached FSP MEDIAN ACE Insurance Limited General Insurer % 29% 0% 0% 14% Allianz Australia Insurance Limited General Insurer % 13% 25% 0% 0% Hallmark General Insurance Company Ltd General Insurer % 0% 8% 0% 0% Hallmark Life Insurance Company Ltd Life Insurer % 0% 0% 0% 0% Metlife Insurance Limited Life Insurer % 0% 17% 0% 0% MLC Limited Life Insurer % 9% 0% 0% 9% MTA Insurance Limited General Insurer % 100% 0% 0% 0% OnePath Life Limited Life Insurer % 0% 0% 0% 13% QBE Insurance (Australia) Limited General Insurer % 0% 17% 0% 0% Swann Insurance (Aust) Pty Ltd General Insurer % 20% 20% 0% 0% The Colonial Mutual Life Assurance Society Limited Bank % 0% 0% 5% 0% Westpac General Insurance Limited General Insurer % 6% 19% 0% 6%

15 5: Deposit Taking - Payment Systems Primary Business (per ) Disputes Reached FSP MEDIAN Access Prepaid Australia Pty Ltd Product Distributor % 0% 0% 0% 8% American Express Australia Limited Credit Provider % 0% 0% 11% 33% AMP Bank Limited Bank % 0% 17% 0% 17% Australia and New Zealand Banking Group Limited Bank % 2% 0% 1% 6% Bank of Melbourne Bank % 0% 0% 0% 0% Bank of Queensland Limited Bank % 0% 8% 0% 5% Bank of Western Australia Limited Bank % 0% 0% 0% 4% BankSA (a division of Westpac Banking Corporation) Bank % 0% 0% 0% 9% Bendigo and Adelaide Bank Limited Bank % 0% 0% 0% 4% Citigroup Pty Limited Bank % 0% 0% 0% 6% Commonwealth Bank of Australia Bank % 0% 1% 1% 5% Credit Union Australia Ltd Credit Union % 0% 0% 10% 10% GE Capital Finance Australia Credit Provider % 0% 0% 0% 0% Heritage Bank Limited Bank % 0% 0% 13% 0% HSBC Bank Australia Limited Bank % 0% 0% 0% 5% IMB Ltd Building Society % 0% 0% 0% 0% ING Bank (Australia) Limited Bank % 0% 5% 0% 0% Macquarie Bank Limited Bank % 0% 0% 0% 25% National Australia Bank Limited Bank % 1% 0% 1% 5% PayPal Australia Pty Limited Non-cash Payment System Provider % 0% 0% 1% 5% People's Choice Credit Union Credit Union % 0% 0% 0% 10% St George Bank Bank % 0% 2% 4% 4% Suncorp-Metway Limited Bank % 0% 0% 3% 8% Virgin Money Financial Services Pty Ltd Product Distributor % 0% 0% 11% 0% Westpac Banking Corporation Bank % 1% 1% 2% 6% Bank of Melbourne - was not able to provide business size to calculate a Chance Number as it commenced business on 9-Sep-11 and did not have a business size on 30-Jun-11 People's Choice Credit Union is the trading name for Australian Central Credit Union

16 6: Derivatives - Hedging & Securities Primary Business (per ) Disputes Reached FSP MEDIAN Boston Merchant Financial Pty Ltd Foreign Exchange Dealer 4,268.3 CMC Markets Asia Pacific Pty Ltd Derivatives Dealer % 0% 22% 0% 0% CMC Markets Stockbroking Limited Stockbroker % 0% 0% 0% 33% Commonwealth Securities Limited Stockbroker % 0% 0% 0% 0% ETRADE Australia Securities Limited Stockbroker % 14% 0% 0% 0% IG Markets Limited Derivatives Dealer % 0% 0% 0% 0% Investment Educators Australia Pty Ltd Financial Advisor / Planner % 0% 0% 0% 0% Lifestyle Investor Services Pty Ltd Derivatives Dealer % 33% 0% 0% 33% Macquarie Bank Limited Bank % 0% 0% 0% 0% Macquarie Equities Limited Stockbroker % 29% 0% 0% 14% Mark Power Financial Pty Ltd (In Liquidation) Derivatives Dealer % 0% 0% 0% 36% Morgan Stanley Wealth Management Financial Advisor / Planner % 0% 0% 0% 0% Romad Financial Services Pty Ltd Financial Advisor / Planner 18, % 20% 0% 0% 20% SB2 Securities Pty Limited Stockbroker % 0% 100% 0% 0% Westpac Securities Limited Stockbroker % 0% 17% 0% 17% Note - FOS Member Pending Cessation Investment Educators Australia Pty Ltd and Lifestyle Investor Services Pty Ltd provide software and/or educational programs. Chance data is not included for these members.

17 7: Extended Warranties Primary Business (per ) Disputes Reached FSP National Warranty Company Pty Ltd Warranty Provider % 0% 0% 0% 11%

18 8: Home Building Insurance Primary Business (per ) Disputes Reached FSP MEDIAN Allianz Australia Insurance Limited General Insurer % 27% 36% 1% 2% Australian Alliance Insurance Company Ltd General Insurer % 21% 12% 3% 2% Australian Associated Motor Insurers Limited General Insurer % 22% 22% 1% 2% Auto & General Insurance Company Limited General Insurer % 21% 53% 0% 0% Calliden Insurance Limited General Insurer % 27% 23% 3% 0% CGU Insurance Limited General Insurer % 26% 29% 3% 3% Commonwealth Insurance Limited Bank % 14% 15% 2% 2% Cumis Insurance Society Inc. General Insurer % 40% 40% 0% 0% Defence Service Homes Insurance Scheme General Insurer % 50% 0% 0% 0% Elders Insurance Limited General Insurer % 21% 38% 4% 4% GIO General Limited General Insurer % 16% 15% 2% 2% HBF Insurance Pty Ltd General Insurer % 0% 60% 0% 0% Insurance Australia Limited General Insurer % 17% 40% 3% 3% Insurance Manufacturers of Australia Pty Ltd General Insurer % 27% 26% 5% 1% Lloyd's Australia Limited General Insurer % 25% 25% 0% 0% Mutual Community General Insurance Pty Limited General Insurer % 25% 50% 0% 0% QBE Insurance (Australia) Limited General Insurer % 27% 32% 2% 1% RAA Insurance Limited General Insurer % 33% 0% 0% 0% RAC Insurance Pty Limited General Insurer % 13% 6% 0% 0% RACQ Insurance Limited General Insurer % 19% 25% 3% 3% Strata Unit Underwriters Underwriting Agency % 0% 0% 0% 0% Suncorp Metway Insurance Limited General Insurer % 19% 16% 1% 2% The Hollard Insurance Company Pty Ltd General Insurer % 28% 7% 2% 2% Vero Insurance Limited General Insurer % 6% 22% 0% 0% Wesfarmers General Insurance Limited General Insurer % 26% 17% 2% 2% Westpac General Insurance Limited General Insurer % 13% 21% 2% 0% Youi Pty Ltd General Insurer % 23% 23% 8% 0% Zurich Australian Insurance Limited General Insurer % 36% 21% 0% 0% Note - FOS Membership Pending Cessation

19 9: Home Contents Insurance Primary Business (per ) Disputes Reached FSP MEDIAN Allianz Australia Insurance Limited General Insurer % 12% 62% 3% 6% Australian Alliance Insurance Company Ltd General Insurer % 7% 14% 2% 3% Australian Associated Motor Insurers Limited General Insurer % 16% 15% 6% 0% Auto & General Insurance Company Limited General Insurer % 43% 29% 0% 0% CGU Insurance Limited General Insurer % 29% 31% 0% 0% Commonwealth Insurance Limited Bank % 17% 17% 6% 6% Cumis Insurance Society Inc. General Insurer % 0% 75% 0% 0% Elders Insurance Limited General Insurer % 25% 0% 0% 0% GIO General Limited General Insurer % 11% 17% 6% 2% Insurance Australia Limited General Insurer % 13% 30% 4% 0% Insurance Manufacturers of Australia Pty Ltd General Insurer % 21% 29% 13% 4% QBE Insurance (Australia) Limited General Insurer % 15% 37% 0% 0% RAA Insurance Limited General Insurer % 0% 67% 0% 33% RAC Insurance Pty Limited General Insurer % 0% 40% 0% 0% RACQ Insurance Limited General Insurer % 46% 12% 0% 4% Suncorp Metway Insurance Limited General Insurer % 9% 16% 2% 0% The Hollard Insurance Company Pty Ltd General Insurer % 19% 0% 14% 0% Vero Insurance Limited General Insurer % 29% 29% 0% 14% Wesfarmers General Insurance Limited General Insurer % 0% 25% 8% 0% Westpac General Insurance Limited General Insurer % 5% 21% 5% 0% Youi Pty Ltd General Insurer % 17% 33% 0% 0% Note - FOS Membership Pending Cessation

20 10: Housing Finance Primary Business (per ) Disputes Reached FSP MEDIAN ACM Group Ltd Debt Collector or Buyer % 0% 0% 0% 17% AMP Bank Limited Bank % 3% 0% 3% 6% Australia and New Zealand Banking Group Limited Bank % 2% 1% 1% 5% Australian Executor Trustees Limited Trustee 2, % 0% 14% 0% 0% Bank of Melbourne Bank % 0% 0% 0% 0% Bank of Queensland Limited Bank % 5% 3% 2% 6% Bank of Western Australia Limited Bank % 1% 2% 1% 4% BankSA (a division of Westpac Banking Corporation) Bank % 0% 10% 0% 0% Bendigo and Adelaide Bank Limited Bank % 0% 1% 1% 11% Citigroup Pty Limited Bank % 0% 3% 0% 8% Commonwealth Bank of Australia Bank % 1% 1% 1% 5% Community First Credit Union Limited Credit Union % 0% 0% 0% 0% Credit Corp Services Pty Limited Debt Collector or Buyer % 0% 0% 0% 7% Credit Union Australia Ltd Credit Union % 0% 0% 0% 11% GE Personal Finance Pty Ltd Credit Provider % 0% 0% 0% 0% Heritage Bank Limited Bank % 0% 0% 0% 25% HSBC Bank Australia Limited Bank % 7% 0% 3% 7% ING Bank (Australia) Limited Bank % 0% 0% 0% 5% Macquarie Bank Limited Bank % 3% 0% 0% 7% Members Equity Bank Pty Limited Bank % 0% 5% 0% 11% MyState Financial Limited Credit Union % 17% 0% 0% 0% National Australia Bank Limited Bank % 1% 1% 1% 5% Over Fifty Seniors Equity Release Pty Ltd Mortgage Manager % 0% 0% 0% 0% People's Choice Credit Union Credit Union % 0% 0% 0% 0% Provident Capital Limited (In Liquidation) Mortgage Originator 3, % 0% 0% 0% 0% RAMS Financial Group Pty Ltd Mortgage Originator % 1% 0% 0% 9% RHG Mortgage Corporation Limited Credit Provider % 2% 2% 8% 15% St George Bank Bank % 0% 1% 0% 8% Suncorp-Metway Limited Bank % 1% 1% 1% 3% Westpac Banking Corporation Bank % 1% 0% 1% 8% Note - FOS Membership Ceased Note - FOS Membership Pending Cessation Peoples Choice Credit Union is the trading name for Australian Central Credit Union Bank of Melbourne - was not able to provide business size to calculate a Chance Number as it commenced business on 9-Sep-11 and did not have a business size on 30-Jun-11

21 11: Life Insurance Primary Business (per ) Disputes Reached FSP MEDIAN AIA Australia Limited Life Insurer % 0% 0% 0% 0% AMP Financial Planning Pty Limited Financial Advisor / Planner % 0% 0% 0% 0% AMP Life Ltd Life Insurer % 3% 22% 0% 11% Asteron Life Limited Life Insurer % 0% 7% 0% 7% Australia and New Zealand Banking Group Limited Bank % 0% 0% 0% 0% Australian Scholarships Group Friendly Society Limited Friendly Society % 0% 0% 0% 0% Combined Insurance Company of Australia General Insurer % 0% 0% 0% 14% Commonwealth Financial Planning Limited Financial Advisor / Planner % 0% 0% 0% 17% Coverforce Pty Ltd Underwriting Agency % 0% 0% 0% 11% HCF Life Insurance Company Pty Limited Life Insurer % 0% 0% 0% 20% Hollard Financial Services Pty Ltd Product Distributor % 0% 0% 0% 8% Metlife Insurance Limited Life Insurer % 25% 13% 0% 0% MLC Limited Life Insurer % 2% 12% 0% 3% National Mutual Life Association of Australasia Limited (The) Life Insurer % 6% 2% 0% 8% OnePath Life Limited Life Insurer % 4% 7% 0% 4% Suncorp Life & Superannuation Limited Life Insurer % 0% 0% 0% 0% TAL Direct PTY Limited Life Insurance Broker % 0% 0% 0% 0% TAL Life Limited Life Insurer % 4% 0% 0% 9% The Colonial Mutual Life Assurance Society Limited Life Insurer % 7% 11% 0% 4% Westpac Banking Corporation Bank % 0% 20% 0% 20% Westpac Life Insurance Services Limited Life Insurer % 13% 17% 0% 0% Zurich Australia Limited Life Insurer % 0% 33% 0% 0% Note - FOS Membership Ceased Coverforce Pty Ltd has acquired the business of Coverforce IUS Pty Ltd Coverforce Pty Ltd data represents data for both entities Note - As well as life insurance issuers and underwriters, this table includes financial advisor/planners and banks that provide advice about life insurance but do not issue policies. Chance data is not included for these members.

22 12: Managed Investments Primary Business Business Size (per ) Disputes Reached FSP MEDIAN Capital RE Limited MIS Operator / Fund Manager Medium % 0% 0% 0% 0% AMP Financial Planning Pty Limited Financial Advisor / Planner Very Large % 0% 0% 0% 0% Australia and New Zealand Banking Group Limited Bank Very Large % 0% 11% 0% 11% Australian Financial Services Limited Financial Advisor / Planner Large % 0% 21% 0% 0% Australian Unity Funds Management Limited MIS Operator / Fund Manager Large % 0% 0% 0% 0% Chambers Investment Planners Pty Ltd Financial Advisor / Planner Small % 0% 50% 0% 50% Charter Financial Planning Limited Financial Advisor / Planner Large % 0% 0% 0% 0% Colonial First State Investments Limited Bank Very Large % 0% 0% 0% 9% Commonwealth Financial Planning Limited Financial Advisor / Planner Very Large % 0% 15% 0% 0% Convexity Limited MIS Operator / Fund Manager Small 82 Denison Funds Management Ltd MIS Operator / Fund Manager Medium 5 Financial Planning Services Australia Pty Ltd Financial Advisor / Planner Medium % 67% 33% 0% 0% Financial Technology Securities Pty Ltd Financial Advisor / Planner Medium % 0% 33% 0% 0% Genesys Wealth Advisers Limited Financial Advisor / Planner Large % 0% 0% 0% 0% Gunns Plantations Limited MIS Operator / Fund Manager Large % 0% 0% 0% 0% GWM Adviser Services Ltd Financial Advisor / Planner Large % 0% 0% 50% 0% Kingston Capital Pty Ltd Financial Advisor / Planner Small % 0% 0% 0% 29% LM Investment Management Ltd MIS Operator / Fund Manager Medium % 0% 0% 0% 0% MacarthurCook Fund Management Limited MIS Operator / Fund Manager Medium % 0% 0% 0% 0% Macquarie Bank Limited Bank Medium % 0% 38% 0% 0% Macquarie Equities Limited Stockbroker Large % 17% 0% 0% 0% Macquarie Financial Products Management Limited MIS Operator / Fund Manager Large % 0% 13% 0% 0% Millennium 3 Financial Services Pty Ltd Life Insurance Broker Large % 25% 0% 0% 25% National Mutual Funds Management Ltd MIS Operator / Fund Manager Large % 0% 0% 0% 14% Navigator Australia Limited Managed Discretionary Account Operator Large % 0% 0% 0% 0% Navra Group Pty Ltd Financial Advisor / Planner Small % 100% 0% 0% 0% Next Financial Limited Managed Discretionary Account Operator Medium % 0% 0% 0% 100% OnePath Funds Management Limited MIS Operator / Fund Manager Large % 0% 0% 0% 7% Patron Financial Services Pty Ltd Financial Advisor / Planner Large % 50% 0% 0% 0% Professional Investment Services Pty Ltd Financial Advisor / Planner Large % 13% 10% 0% 3% QuantumWarrants Pty Ltd (Receiver Appointed) Product Issuer Small 9 Salisbury Group Pty Ltd (The) Financial Advisor / Planner Medium % 0% 0% 0% 0% Sentry Financial Planning Pty Ltd Financial Advisor / Planner Medium 5 Tangible Assets Financial Services Pty Ltd Financial Advisor / Planner Small % 70% 0% 0% 10% UBS AG Bank Large 5 Wealth Managers Pty Ltd Financial Advisor / Planner Small % 67% 0% 0% 0% Westpac Banking Corporation Bank Very Large % 15% 8% 0% 8% Note - FOS Membership Ceased Note - FOS Membership Pending Cessation

23 15: Motor Vehicle Insurance Primary Business (per ) Disputes Reached FSP MEDIAN AI Insurance Holdings Pty Limited General Insurer % 0% 0% 0% 0% Aioi Nissay Dowa Insurance Company Limited General Insurer % 13% 13% 0% 0% Allianz Australia Insurance Limited General Insurer % 9% 17% 4% 4% Australian Alliance Insurance Company Ltd General Insurer % 10% 12% 3% 3% Australian Associated Motor Insurers Limited General Insurer % 7% 15% 3% 3% Auto & General Insurance Company Limited General Insurer % 10% 23% 2% 0% Avea Insurance Limited General Insurer % 17% 9% 0% 0% CGU Insurance Limited General Insurer % 20% 14% 0% 6% Commonwealth Insurance Limited Bank % 0% 11% 2% 0% Cumis Insurance Society Inc. General Insurer % 14% 43% 0% 0% Elders Insurance Limited General Insurer % 33% 20% 0% 0% GIO General Limited General Insurer % 6% 18% 3% 3% Insurance Australia Limited General Insurer % 15% 29% 4% 5% Insurance Manufacturers of Australia Pty Ltd General Insurer % 11% 22% 10% 6% Progressive Direct Insurance Company General Insurer % 0% 67% 0% 0% QBE Insurance (Australia) Limited General Insurer % 15% 15% 3% 4% RAA Insurance Limited General Insurer % 28% 11% 0% 0% RAC Insurance Pty Limited General Insurer % 0% 22% 0% 0% RACQ Insurance Limited General Insurer % 17% 17% 3% 3% Suncorp Metway Insurance Limited General Insurer % 11% 22% 4% 0% Swann Insurance (Aust) Pty Ltd General Insurer % 13% 19% 3% 6% The Hollard Insurance Company Pty Ltd General Insurer % 26% 21% 0% 5% Vero Insurance Limited General Insurer % 13% 13% 0% 0% Wesfarmers General Insurance Limited General Insurer % 19% 7% 7% 0% Youi Pty Ltd General Insurer % 12% 12% 4% 8% Note - FOS Membership Pending Cessation

24 16: Personal & Domestic Property Insurance Primary Business (per ) Disputes Reached FSP MEDIAN ACE Insurance Limited General Insurer % 13% 25% 0% 0% Allianz Australia Insurance Limited General Insurer % 0% 50% 0% 0% Australian Associated Motor Insurers Limited General Insurer % 0% 0% 0% 0% Club Marine Limited Underwriting Agency % 20% 20% 0% 0% Commonwealth Insurance Limited Bank % 0% 0% 0% 25% GIO General Limited General Insurer % 11% 0% 0% 11% Insurance Australia Limited General Insurer % 25% 25% 0% 0% Optus Insurance Services Pty Ltd General Insurer % 0% 13% 0% 0% Petsure (Australia) Pty Ltd Underwriting Agency 7.2 QBE Insurance (Australia) Limited General Insurer % 20% 13% 0% 0% RACQ Insurance Limited General Insurer % 0% 0% 17% 0% Risk Insure Pty Ltd General Insurance Broker % 0% 0% 0% 0% Suncorp Metway Insurance Limited General Insurer % 11% 11% 0% 0% The Hollard Insurance Company Pty Ltd General Insurer % 14% 14% 0% 3% Vero Insurance Limited General Insurer % 100% 0% 0% 0% Wesfarmers General Insurance Limited General Insurer % 22% 22% 0% 0%

25 18: Sickness & Accident Insurance Primary Business (per ) Disputes Reached FSP MEDIAN ACE Insurance Limited General Insurer % 11% 16% 0% 5% Allianz Australia Insurance Limited General Insurer % 23% 8% 0% 8% Chartis Australia Insurance Limited General Insurer % 33% 0% 17% 0% Combined Insurance Company of Australia General Insurer % 18% 36% 9% 9% Insurance Australia Limited General Insurer % 20% 20% 0% 0% Lloyd's Australia Limited General Insurer % 30% 40% 0% 10% QBE Insurance (Australia) Limited General Insurer % 40% 20% 0% 0% Swann Insurance (Aust) Pty Ltd General Insurer % 0% 20% 0% 0% Westpac General Insurance Limited General Insurer % 0% 25% 0% 0% Note - FOS Membership Ceased Allianz Australia Insurance Limited and QBE Insurance (Australia) Limited were not able to seperately identify the total number of people covered by their 'Group' Sickness and Accident policies.

26 19: Small Business - Farm Insurance Primary Business (per ) Disputes Reached FSP MEDIAN 4.3 Allianz Australia Insurance Limited General Insurer % 7% 43% 0% 0% Australian Associated Motor Insurers Limited General Insurer % 29% 29% 14% 0% Calliden Insurance Limited General Insurer % 19% 44% 0% 0% CGU Insurance Limited General Insurer % 17% 42% 0% 8% Elders insurance (Underwriting Agency) Pty Limited Underwriting Agency % 0% 0% 0% 0% Elders Insurance Limited General Insurer % 40% 25% 0% 0% GIO General Limited General Insurer % 13% 30% 4% 4% Insurance Australia Limited General Insurer % 0% 42% 0% 5% Lloyd's Australia Limited General Insurer % 40% 20% 0% 0% OAMPS Insurance Brokers Ltd General Insurance Broker % 25% 0% 0% 0% QBE Insurance (Australia) Limited General Insurer % 13% 38% 0% 3% Vero Insurance Limited General Insurer % 25% 25% 0% 0% Wesfarmers General Insurance Limited General Insurer % 13% 44% 6% 0% Zurich Australian Insurance Limited General Insurer % 27% 18% 0% 0%

27 20: Superannuation Primary Business Business Size (per ) Disputes Reached FSP MEDIAN AMP Financial Planning Pty Limited Financial Advisor / Planner Very Large % 0% 22% 0% 0% Australia and New Zealand Banking Group Limited Bank Very Large % 0% 13% 0% 0% AXA Financial Planning Limited Financial Advisor / Planner Large % 0% 50% 0% 0% BT Funds Management Limited Superannuation Fund Trustee / Advisor Very Large % 0% 0% 0% 0% Charter Financial Planning Limited Financial Advisor / Planner Large % 0% 0% 0% 0% Commonwealth Financial Planning Limited Financial Advisor / Planner Very Large % 8% 31% 0% 0% Esuperfund Pty Ltd Administration Services Provider Small % 0% 0% 0% 0% Kingston Capital Pty Ltd Financial Advisor / Planner Small % 0% 0% 0% 20% National Australia Bank Limited Bank Very Large % 14% 0% 0% 0% Professional Investment Services Pty Ltd Financial Advisor / Planner Large % 0% 25% 0% 13% Suncorp Financial Services Pty Ltd Financial Advisor / Planner Large % 0% 67% 0% 0% Supercorp Financial Services Pty Ltd Administration Services Provider Small 6 Note - FOS Membership Pending Cessation

28 21: Timeshare & Strata Title Schemes Primary Business (per ) FSP Holiday Club Pacific Limited MIS Operator / Fund Manager % 0% 0% 0% 0% Disputes Reached Note - FOS Membership Ceased

29 22: Travel Insurance Primary Business (per ) Disputes Reached FSP MEDIAN ACE Insurance Limited General Insurer % 14% 21% 0% 7% AGA Assistance Australia Pty Ltd Underwriting Agency % 8% 21% 2% 2% Australian Associated Motor Insurers Limited General Insurer % 13% 13% 0% 6% CGU Insurance Limited General Insurer % 8% 38% 0% 0% Chartis Australia Insurance Limited General Insurer % 28% 34% 0% 3% Cover-More Insurance Services Pty Ltd Underwriting Agency % 0% 0% 0% 0% Great Lakes Reinsurance (UK) PLC General Insurer % 3% 27% 0% 2% Lloyd's Australia Limited General Insurer % 30% 14% 2% 2% Mutual Community General Insurance Pty Limited General Insurer % 13% 13% 0% 0% QBE Insurance (Australia) Limited General Insurer % 33% 18% 0% 5% Southern Cross Benefits Ltd General Insurer % 8% 8% 0% 0% Vero Insurance Limited General Insurer % 0% 42% 0% 0% Zurich Australian Insurance Limited General Insurer % 19% 37% 0% 4% Zurich Australian Insurance Limited - a Chance Number has not been calculated. Please refer to associated notes for a detailed response and reasoning.