Make a Complaint
View all 'Make a Complaint'Lloyd’s arrangements for international complaints are intended to allow for the oversight of complaints handling, consistent with the regulatory expectations of the UK Financial Conduct Authority (FCA), whilst allowing flexibility for managing agents in the way they handle complaints in accordance with local rules.
Lloyd's is transitioning from two-stage complaint handling to one-stage complaint handling in New Zealand. The process in which a complaint is handled will depend on the process set out in the relevant policy wording.
Guidance - two-stage process
Guidance - one-stage process
Definition of a complaint
Expression of dissatisfaction about a Participant, where a response or resolution is explicitly or implicitly expected from the Participant.
Timescales - two-stage process
Stage One
The managing agent or their representative, i.e. Third Party Claims Administrator/Coverholder has 10 business days to attempt to resolve the complaint. The stage one response must outline the right of the complainant to request a stage two by Lloyd's New Zealand and then to escalate their complaint to the Insurance and Financial Services Ombudsman (IFSO).
Stage Two
If the complainant remains dissatisfied they can request a stage two review. This review will be conducted by Lloyd’s Australia on behalf of Lloyd's New Zealand which has 10 business days to resolve the complaint. If the matter cannot be resolved at stage two and/or it has been more than two months since the complaint was made, the complainant will be advised of the reasons for this via a 'deadlock' letter and advised of their right to elevate the matter to IFSO.
Timescales - one-stage process
Day zero - Complaint received
1 business day - Complaint acknowledged and the complainant provided the name and contact details of the person reviewing the complaint.
5 business days - Lloyd's UK Complaints Team is notified of receipt using the Notification Spreadsheet.
Within 10 business days of having all information needed to determine the complaint - Decision letter due.
At least every 20 business days - Entity reviewing complaint provides update to the complainant, unless otherwise agreed.
By 2 calendar months - Deadlock Letter sent to the complainant including the complaint decision and reasons for decision, right to refer complaint to IFSO and IFSO contact details.
If a decision cannot be made within 2 calendar months, a Deadlock Letter still needs to be sent to the complainant, providing a written update, reasons for the delay, right to refer complaint to IFSO and IFSO contact details.
External dispute resolution
When responding to a complaint, the complainant must be informed that if they remain dissatisfied they may be able to refer their complaint to the Insurance and Financial Services Ombudsman in New Zealand, for review.