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Insurance Business | 04 Mar 2014, 07:28 AM Agree 0
The financial services regulator is casting a careful eye over the sale of certain insurance products, keen for Australia not to endure the mis-selling scandal that continues to plague the UK.
  • Scott | 04 Mar 2014, 03:16 PM Agree 0
    On the note of decision making made by home insurance buyers. I was recently helping some friends look at a home they wanted to buy, and they discovered it had a high chance of flooding.

    Their attitude was "that will make the insurance expensive, so we better get insurance without flood cover" not "that means we should really protect ourselves when a flood does happen."

    Had me groaning.
  • Amazed! | 06 Mar 2014, 12:12 PM Agree 0
    Great recount Scott - how many times does this happen in the market only for when the flood comes the same people shout 'unfair' and the media unloads.
    Where has buyer-beware gone?
    Maybe insurers, on their calculators should have a massive flashing message on flood if a postcode entered matches their mapping allowing the consumer to click a button acknowledging they have read and understood what they are giving up.
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