The ISO Structure


The ISO Commission

The primary functions of the ISO Commission are to appoint an ISO, monitor Constitution, the Terms of Reference and the operations of the ISO Scheme, set the schedule of Participant Fees and Levies and approve the budget.

The ISO Commission has an independent Chairperson, 3 industry representatives appointed by the ISO Board and 3 consumer representatives appointed in consultation with the Minister of Consumer Affairs.  ISO Commission Members


The ISO Board

The ISO Board has 10 members, made up of 2 representatives nominated by each of the industry bodies representing fire and general insurance, health insurance, life insurance and savings, and other financial service providers.

The ISO Board's primary function is to act as a consultation and advisory board for the ISO Commission.


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, a financial service provider must provide all or any of the services set out in the Constitution. 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 a financial service provider becomes a Participant of the ISO Scheme, it is bound by the Constitution, the Terms of Reference and by any Award made by the ISO against it.  They have obligations to inform customers about the ISO Scheme and to operate a bona fide internal complaints process.

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