The Taiwan Financial Ombudsman Institution (FOI) Board of Directors convened and elected Professor Chun-Wei Lo as the Ombudsman Committee Chair and President on September 6, 2023. Professor Lo officially assumes his duties on October 1, 2023.

The newly appointed President, Professor Lo, holds a Ph.D. from the Institute of Risk Management and Insurance at National Chengchi University. He has previously served as a professor, Chair of Law Department, and Vice Dean of the College of Law at National Chung Cheng University(CCU). Additionally, he has held various positions, including serving as a member of the Ombudsman Committee at the FOI, a member of the Financial Supervisory Commission's Property, Personal, and Investment-Type Insurance Product Review Committee, a committee member of the Consumer Education Foundation's Yunlin-Chiayi-Tainan Branch, a member of the Chiayi County Government's Consumer Protection Committee, and an arbitrator for the Arbitration Association.

President Lo has been teaching courses on insurance law, maritime law, negotiable instruments law, and international maritime law at CCU and other universities for over a decade. Before entering academia, he had a career in the financial and shipping industries, where he was actively involved in insurance practices. In recent years, he has focused on various topics, including insurance contracts, insurance regulation, financial consumer protection, fair treatment of financial service customers, and marine insurance. He has also assisted regulatory authorities in reviewing various practical insurance contract clauses.

President Lo stated that he will adhere to the policies and directives of the Financial Supervisory Commission (FSC) regarding financial consumer protection. He will also follow the guidance provided by the FOI Board of Directors and Chairperson Tu, ensuring the improvement of the ombudsman committee's work. The main objective is to serve as a communication bridge between financial institutions and financial consumers, with the primary goal of protecting the rights and interests of financial consumers.

The FOI will focus on handling disputes in a fair, just, and prompt manner, as well as expanding efforts in financial education. This is aimed at ensuring that financial consumers are treated fairly, enhancing their confidence in the market, ensuring the sound operation of financial service providers, facilitating proper financial transactions, and promoting the healthy development of the financial market.

Additionally, President Lo expressed the hope that the FOI can maintain close communication with relevant international organizations and exchange business information. This will allow the FOI to stay informed about the latest developments in international financial consumer protection and align its operations with international trends. The FOI aims to provide information to the domestic financial industry as a reference for their business operations.

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