Insurance Business

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• Martin Mulcare 29/03/2018 9:25:49 AM Sheila is certainly correct that lifting standards is easier said than done. The fundamental challenge is that, by definition, professionals put the interests of their clients above their own interests. The cultural tradition in most large businesses is that the shareholders' interest is ranked ahead of the customers' interests and it will be very hard to shift longstanding behaviour.

• Tony 13/03/2018 9:44:44 AM I agree with APRA that Australian Financial institutions are an obvious Cyber target. I do think they are missing part of the argument around what happens to the credit risk of a financial institution, banks in particular, if a large proportion of their customer base (particularly SME borrowers) suffer a cyber event at the same time. The inability of a large number of SME's complying with their debt obligations as a result of a Cyber event is a real risk and one that has largely gone unaddressed by both regulators and the Institutions themselves.

• Vicki Warne 12/03/2018 2:19:41 PM For purposes of clarification this is not AIB Pty.Ltd. ABN 87009635527. The Queensland based wholesale brokerage. Vicki Warne Managing Director.

• Nigel Curtis 26/02/2018 8:40:52 AM Really well said. Being able to explain and demonstrate our value proposition as brokers has never been more important. As the service from insurers continues to deteriorate our clients will be needing us more than ever. Having choice, advice and professional assistance at claims time is something customers really value and something that direct insurers just can't offer.

• Gareth Jones 21/02/2018 10:29:03 AM Hi Alex, You shouldn't let any adjuster tell you what to do. He is obligated to discuss every aspect of your clients claim with you. This is not an option and you should be reporting any assessor in breach to the insurer. The same rule applies to the insurers claims staff. They must deal through you unless you permit them to negotiate directly with your clients. Regards, Gareth Jones, Quantum Risk Management, St. Leonards