domo insurance boss takes stand against family violence
domo insurance boss takes stand against family violence | Insurance Business Australia
Insurance News
domo insurance boss takes stand against family violence
Event held ahead of AFL finals, a time when domestic violence incidents tend to rise
Insurance News
By
Roxanne Libatique
William Dunn (pictured), CEO of Domo Insurance, recently participated in the “Stand Up in September” campaign, a family violence awareness event organised by Melbourne charity You Matter.
The event, which took place on Sept. 19 at The Union House in Richmond, sought to engage men in conversations about challenging gender stereotypes and behaviours that contribute to domestic violence.
Stand Up in September campaign
The event was held as a “Pie Night” ahead of the AFL finals, a time when domestic violence incidents tend to rise. The informal setting encouraged men to reflect on how they can contribute to preventing family violence.
Dunn was one of eight male ambassadors from various industries who pledged their support for the initiative.
The night featured live entertainment, a silent auction, and a speech from AFL legend Phil Cleary, who shared personal stories about the effects of family violence and the role of communities in addressing the issue.
Proceeds from the event went toward You Matter’s efforts to support women and children leaving violent situations, providing essentials for their long-term accommodation.
Conducted by the Financial Rights Legal Centre in 2023, the audit reviewed 17 life insurers to assess their compliance with the Life Insurance Code of Practice, which includes requirements for supporting victims of domestic violence.
The audit compared insurers’ policies against the Financial Services Council’s (FSC) guidelines, a voluntary framework aimed at improving industry practices. Results showed only one insurer fully met all 11 recommended policy areas, while more than half of the insurers scored below 5.5, highlighting gaps in implementation.
Calls for improved family violence policies
Financial Rights has recommended that insurers adopt more comprehensive family violence policies, citing Noble Oak as an example of best practice. Suggested improvements include:
adding quick-exit buttons to websites to enhance safety;
offering support to employees affected by domestic violence; and
removing the need for victims to provide police reports when making claims.
The complete findings from the audit were published in May 2024.
Financial abuse and regulatory issues raised
In addition to its audit, Financial Rights submitted a report to the Parliamentary Joint Committee on Corporations and Financial Services, calling attention to gaps in the regulation of financial abuse, a common form of domestic violence where perpetrators exert control over victims’ finances.
The submission pointed out that the lack of consistent rules across the financial services sector makes it difficult for victims to seek help.
The organisation is advocating for stronger protections for vulnerable customers and has suggested that the Australian Securities and Investments Commission (ASIC) be given expanded powers similar to the UK’s Financial Conduct Authority to create and enforce rules that protect against financial abuse.
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