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Insurance Business | 02 Mar 2017, 09:00 a.m. Agree 0
Proposed change relates to the disclosure of relevant information to insurers
  • Andy | 02 Mar 2017, 09:22 a.m. Agree 0
    This will harden the market if nothing else!
  • Steve | 02 Mar 2017, 10:11 a.m. Agree 0
    This will dramatically drive up premiums or result in additional exclusions/reduced cover. Not fair on the diligent/honest. We should stop rewarding those who cannot be bothered to read terms and conditions and then expect others to bail them out. A famous Justice once said the law of equity is there to protect the diligent not the imprudent! And by the way, it is not unscrupulous insurers 'ruining lives' it is the non-disclosure by the applicant.
    • John | 02 Mar 2017, 10:33 a.m. Agree 0
      I think the point is that these people often end up uninsurable - due to those questions about ever being declined an application or a claim etc etc - which is not reasonable either
  • Giles Thorman | 02 Mar 2017, 10:52 a.m. Agree 0
    This is just a view from Karen Stevens; whilst she has access to examples these are only intermittently made available for us Brokers etc to view to see how we may assist in reducing the problem; I for one would be VERY interested to be given more examples from ALL of the disputes resolution companies. Whilst doing that I would be more than happy to see Karen Stevens view when we are allowed to see the information.
    I have been in this Industry for 30 years,I have had a couple of instances of unintentional non disclosure but more where the client has tried to avoid telling the Insurer or they felt the Insurer was being nosy! I have for the most part found Insurers are willing to discuss what has occurred and endeavor to be fair; contentious claims are always viewed by a committee these days to try to give a fair response.
    I would be very concerned that this possibly would enable people who view Insurance Companies as another form of Charity to get honest premium payers to finance their desire to avoid the truth for gain.
  • Dadio | 03 Mar 2017, 09:29 a.m. Agree 0
    This is actually a non issue as the recent Disputes scheme report shows. Out of over 1 million claims only 14 complaints were upheld. Also most insurers don't want to decline claims as it's bad for business. Therefore they do consider innocent non disclosure already
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