Financial sector claims for dispute resolution up 18%

Singapore

THE Financial Industry Disputes Resolution Centre (FIDReC) received 18 per cent more claims in the financial year ended June 30, 2020 as complaints against general insurers went up.

The proportion of complaints against general insurers grew from 16 per cent the year before to 21 per cent, which correlated with a significant increase in travel insurance claims, the centre said in its annual report released on Thursday.