Stepping into retirement: insurance ombudsman John Price
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airness” hasn’t always been a guiding precept for insurance claims professionals. The fact that it’s now solidly entrenched in Australian insurance alongside “utmost good faith” owes a great deal to John Price. The long-serving Insurance Ombudsman is moving into retirement after 17 years deciding on disputed claims and providing feedback guidance to insurers and brokers. However, he intends to continue working part-time with the Australian Financial Complaints Authority (AFCA). Over that 17 years he has seen some “significant changes” in attitude as claims professionals adjusted to an evolving drive for greater levels of consumer redress. It has been particularly important in the past few years as companies worked through a mass of claims caused by a spate of natural disasters. “It’s been pretty profound in terms of having the industry embrace the consumer movement,” he tells Insurance News. “There’s a co-operative approach in regards to these things.” He says the Insurance Council of Australia (ICA) and consumer groups participate openly and in conversations, “working together through the various catastrophes and natural disasters we’ve seen”. “Sure there’s disagreements, but the community forums starting back after Black Saturday in 2009 have really been an eye-opener in giving consumers a voice and greater visibility. We’ve just grown on that innovation.” Mr Price was Lead Ombudsman – General Insurance
April/May 2021
at the Financial Ombudsman Service (FOS) Australia when he was confirmed by AFCA as its Insurance Ombudsman on its formation in late 2018. AFCA merged the operations of three dispute resolution bodies – the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal into an independent body that it proudly notes is not a government department or agency; nor is it a regulator of the financial services sector. But it is subject to regular Federal Government reviews, with the first (slightly delayed by the pandemic) being conducted by Treasury at present. Mr Price, having previously acted as Referee, Adjudicator and a panel chair at FOS, has a long career in the law behind him. He joined Maurice Blackburn in 1978 as a solicitor, rising to become a partner in 1984 and heading up its industrial personal injuries practice until leaving in 2004. His long list of accomplishments on various Victorian government advisory groups and working parties is accompanied by his contribution to cricket work as a code of conduct commissioner for Cricket Australia, and chair of the Pennant Cricket Appeals Board for Cricket Victoria. AFCA is now looking for a replacement for Mr Price when he finally steps down from the role in July. He’ll have plenty to tell his replacement, and the spirit of co-operation between insurers and consumer representatives, along with a willingness to actually get out there and talk to claimants, will doubtless be among
