Following consideration of an application made under section 51 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008 ("the Act"), and after consultation with the Minister of Finance and the Minister of Commerce, I give notice that I have granted approval under section 53 of the Act to the dispute resolution scheme called the Insurance & Savings Ombudsman (ISO) Scheme established under the documents entitled Rules of the Insurance & Savings Ombudsman Scheme dated the 1st
day of April 2010, and the Terms of Reference of the Insurance & Savings Ombudsman dated the 1st day of
April 2010.
The Insurance & Savings Ombudsman Scheme has the purpose of considering and investigating in a fair, independent and impartial manner, without charge to
the complainant, complaints arising out of the provision
(in New Zealand) of any services of a participant member; and to resolve such complaints as effectively and efficiently as possible.
Participant members are those who provide fire and general insurance (for personal, domestic and small business customers), health and life insurance, savings services, and financial service providers.
A copy of the rules and terms of reference that comprise the Insurance & Savings Ombudsman Scheme are available from the following website
http://www.iombudsman.org.nz/index.aspx
Dated at Wellington this 17th day of May 2010.
HON HEATHER ROY, Minister of Consumer Affairs.