The ISO Board

The ISO Board has 8 members, made up of 2 representatives nominated by each of the industry bodies representing fire and general insurance, health insurance, life insurance and savings.

The ISO Board's primary function is to amend the Rules and the Terms of Reference.

The ISO Commission

The primary functions of the ISO Commission are to appoint an ISO, to monitor the operation of the ISO Scheme and to approve the annual budget. It is the ISO Commission's responsibility to levy the Participant companies to fund the service provided by the ISO.

The ISO Commission has an independent Chairperson, 2 industry representatives appointed by the ISO Board and 2 consumer representatives appointed by the Minister of Consumer Affairs.

The ISO & Staff

The ISO is appointed by the ISO Commission to consider and investigate consumers' complaints about Participants. The ISO must do so in a fair, independent and impartial manner, at no cost to consumers.

The current ISO is Karen Stevens. Ms Stevens was appointed to the position in May 1998. She is a barrister with qualifications and experience in alternative dispute resolution.

The ISO staff has combined legal skills and industry experience. Working with the ISO, they can offer a wide and diverse range of solutions to consumers and Participants to assist in resolving complaints.

The Participants

To be an eligible Participant of the ISO Scheme, an insurance/savings company, broker or adviser must provide all or any of the services set out in the Rules. A Participant can include its subsidiaries or related companies.

Participants pay an annual levy to the ISO Commission, which is used to fund the ISO Scheme's dispute resolution service for their customers.

When an insurer becomes a Participant of the ISO Scheme, it is bound by the Rules, the Terms of Reference and by any Award made by the ISO against it.

A Participant can resign from the ISO Scheme by giving 12 months' notice, during which time complaints against it can still be considered.