Mills Insurance Solutions are a corporate authorised representative of Apollo Risk Services. Through our affiliation with Apollo Risk Services we also enjoy the benfeits of membership to the Insurance Brokers Network Association (IBNA), allowing us to deal with a wide range of insurers internationally, enabling us to design solutions most suitable for our client’s.
The IBNA group of brokers place over $1.3 billion in premiums annually, giving us access to market leading products that are constantly being improved.
AFCA replaces the three existing EDR schemes of the Financial Ombudsman Service (FOS), the Credit and Investments Ombudsman (CIO) and Superannuation Complaints Tribunal (SCT) so that consumers have access to a single EDR scheme.
Membership of the company will be required under law or a licence condition of a financial firm. AFCA operations will be financed by contributions made by its members. The scheme will be free to consumers. AFCA will:
- be the single point of contact for complainants for EDR services;
- have higher monetary limits;
- be more accountable to users, including by having an independent assessor to deal with complaints about its handling of disputes; and
- have rules (terms of reference) to support its dispute resolution functions and legislation in the case of superannuation disputes.