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Insurance Business | 14 Jun 2016, 08:59 AM Agree 0
Misleading insurance advertisement led insurer to pay over $230, 000 to compensate policyholders
  • Patrick Gauci | 14 Jun 2016, 09:45 AM Agree 0
    What a scoop !! Excellent to read a "good news" story for a change about general insurance.
    Congratulations to ASIC for clarifying the "fine print" and more importantly for requiring that Allianz should make good the "wrong" done through the confusing policy insuring provisions terminology represented to the insuring public.
    About time that the general public's negative perception of general insurers and their so called fine print has sought to be rectified. There should be more of it !!!
  • FrodofromAus | 15 Jun 2016, 10:54 PM Agree 0
    Disgraceful and time this entire industry was cleaned up. I bet there is more to come on Petplan. I got caught out with my policies because I bought them on the basis of this flashy advertising saying to the effect of "We pay 100% of the claim" Not for older dogs you don't. At the moment I have received no refund and when I contacted the Claims Manager replied I am not entitled to it. Based on the ASIC media release it seems I might be so I am following this up with the ombudsman and would encourage others to do the same. I have been unable to find the ful decision from ASIC to see precisely what it said. No one especially vets should be recommending this product to their clients. How is it possibly the best product out there when you are making such a big co payment when your dog is over ten and much more likely to have vet bills. Most of the people that say they are satisfied have much younger dogs. Wont they be in for a nice suprise as the dog ages and they cant move due to age or pre existing conditions. Wonder how satisfied they will be then :)
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