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Insurance Business | 14 Jan 2013, 12:05 AM Agree 0
The majority of Australians believe insurers unfairly avoid paying out after natural disasters and try to underpay when they do agree to a claim. Most people also have no idea what their policy covers…
  • Mark | 14 Jan 2013, 11:56 AM Agree 0
    Im assuming they are talking about the direct Insurers, perhaps they need speak to a Broker and get the advice and expertise needed to make educated insurance decisions
  • Still Cranky | 14 Jan 2013, 11:57 AM Agree 0
    Much of the blame for such public ignorance can be sheeted home to media beat ups and outright lies. The ICA is far too reactive in defending the industry against slurs after the event when it should be consistently promoting its positives, especially in respect of claims management and outcomes. For every negative story there are thousands of positive ones that the public never hear about because they are not deemed newsworthy. How about regularly highlighting some of the eye-popping statistics of claims paid out? What about featuring more happy customers in frequent advertising blitzes? Why not invite journos and politicians to be educated about the role and functions of insurance as we were when we started off in the industry? The bad press arises almost entirely from a lack of knowledge or from vested interest groups with sinister political motives.
  • Danial Powell | 14 Jan 2013, 12:36 PM Agree 0
    Very interesting article, particularly putting peoples lack of knowledge about insurance into perspective. Over Christmas I received a grilling about "insurers" despite the fact that I stated as simply as possible, on a number of occasions " I am broker, I make insurer pay client!"
  • Robert Cooper | 14 Jan 2013, 12:51 PM Agree 0
    They cannot be that un-trustworthy if so many people insure direct with them rather than use a Broker to deal with Insurers on price, coverage and claims.
    It is like politicians, they do not trust them either but keep voting them in each election.
  • Paul Murphy | 14 Jan 2013, 02:30 PM Agree 0
    I am constantly amazed at how ill-informed the public is when it comes to insurance.Last week I had to disabuse an accountant friend who thought that as he now lived in a high rise apartment he could cancel his contents cover. I mentioned fire, water damage and he replied "wouldn't the strata owners cover that"? I despair particularly when brokers are lumped in with insurers and held in the same contempt and disdain.Generally the direct writers are responsible for dumbing down the public and reducing insurance to price alone. The recent Ombudman's report on how insurers got it badly wrong in the 2011 flood claims highlight the terrible PR issues the industry has created.
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