Let’s Talk About It: Conciliation Conferences

Amie Cousins – June 2011

Independent FOS Conciliator convenes the conversation Parties determine the outcome Issues are identified and discussed Information is provided about the FOS process, other

outcomes, relevant industry practice and law, but no decision is made

Confidential Teleconference Voluntary in some areas, required in others

How Does It Work?

High resolution rate Higher satisfaction for both parties Tailored outcomes Cheaper/faster Opportunity to reality test Chance to explain your view Opportunity for compromise/creative solutions Minimise time spent on submissions Worst case scenario – two hours spent

Why Conciliate?

It’s too complex There are too many issues The claim amount’s too high The dispute has no merit We’ve already put our position to them The parties are too far apart

But What About…

Is It Effective?

Time period: March 2010 – March 2011 Some disputes remain in negotiation, rates may rise

DISPUTE TYPE

INVESTMENTS, LIFE

INSURANCE, SUPER

FINANCIAL DIFFICULTY

LPPI – FINANCIAL DIFFICULTY

LPPI - OTHER

RESOLUTION RATE

78% 63% 80% 75%

Negotiations have broken down Longstanding or continuing relationship Grey areas around outcome Information not available or not supplied Service issues are involved A quick settlement is required/advantageous An explanation may help Difficult to understand other party’s point of view

Identifying Suitable Disputes

Review the material in advance Have authority (or access if necessary) Have the right people in the room (authority, expertise,

approach) Consider how you might put your view (even if you’re not

making an offer) in a way that will resonate Set aside the time you need If you have questions or need material in advance, ask!

Getting The Most Out Of Conciliation

Demonstration

Questions?