INFO 253
Claims handling and settling: How to comply with your AFS licence obligations
This is Information Sheet 253 (INFO 253). It is for anyone who provides claims handling and settling services for insurance products regulated by ASIC.
In plain English
INFO 253 explains how AFS licensees must handle and settle insurance claims to meet their obligations.
INFO 253 is for Australian Financial Services (AFS) licensees who provide claims handling and settling services for insurance products regulated by ASIC. It outlines requirements for fair and timely claims processes. It covers communication, record keeping, and dispute resolution. This information sheet supports compliance with AFS licence obligations. It was last updated by ASIC.
Why it matters
If your business handles insurance claims, this guidance helps you avoid potential compliance issues. Following these guidelines ensures fair treatment of customers and protects your business’s reputation.
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Source: https://www.asic.gov.au/for-finance-professionals/afs-licensees/applying-for-and-managing-an-afs-licence/licensing-certain-service-providers/claims-handling-and-settling-how-to-comply-with-your-afs-licence-obligations/. Rules Mate indexes + summarises; always verify against the regulator's live publication.