The correct answer is D. All of the above.
The Ombudsman is an independent person who is appointed to investigate complaints about financial services. If a dispute is not settled through mediation, the Ombudsman will pass an award within 3 months of receipt of the complaint. If the award is acceptable to the insured, it is binding on the insurer to implement the award. If the insured does not accept the award, it is not implementable at the insurer’s level.
The Ombudsman’s role is to help resolve disputes between consumers and financial services providers. The Ombudsman can investigate complaints about a wide range of financial products and services, including insurance, banking, superannuation, and credit.
The Ombudsman is an independent and impartial body. This means that the Ombudsman is not part of any government or financial services organization. The Ombudsman’s decisions are binding on financial services providers, but they are not binding on consumers.
If you have a complaint about a financial product or service, you can contact the Ombudsman. The Ombudsman’s website has information about how to make a complaint.
Here is a brief explanation of each option:
- Option A: If dispute is not settled through mediation, Ombudsman will pass an award within 3 months of receipt of the compliant.
The Ombudsman will investigate your complaint and try to resolve it through mediation. If mediation is unsuccessful, the Ombudsman will issue an award within 3 months of receiving your complaint.
- Option B: If the award is acceptable to the insured, it is binding on the insurer to implement the award.
If you accept the Ombudsman’s award, the insurer must implement the award. This means that the insurer must do what the Ombudsman has ordered them to do.
- Option C: If the insured does not accept the award, it is not implementable at insurer’s level.
If you do not accept the Ombudsman’s award, you can take your complaint to court. However, you should be aware that court proceedings can be expensive and time-consuming.
I hope this information is helpful. Please let me know if you have any further questions.