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Insurance Business | 29 Jan 2015, 08:55 AM Agree 0
The insurance arm of a major Australian banking group has announced a series of new products and initiatives sourced from a major international insurer.
  • Billy | 29 Jan 2015, 10:03 AM Agree 0
    Don't you just love how you can buy your insurance anywhere - makes it so much easier - the Butcher the Baker the grocery store and the Bank and even when you buy your dog food at the local Rural outlet - wow, we have never had it so good (as a Broker)
  • Andrew | 29 Jan 2015, 10:50 AM Agree 0
    Agreed, the government rattles on about industry reform and consumer protection and then allows supermarkets to offer insurance. Banks are no better, they're all commoditising an industry that is best represented with good advice.
  • John | 30 Jan 2015, 01:33 PM Agree 0
    Westpac's insurance business has been in turmoil for years and has lost its way - that's coming from an insider. Watch for the next move - Westpac to sell their insurance company.
  • Louise | 30 Jan 2015, 03:59 PM Agree 0
    Oh great John! To whom are they selling it to, yet another local direct u/w or better yet a foreign dodgy one?!

    Excellent, we will have twice an many unqualified, untrained, call centre people providing advice that the rest of us fight daily to educate our clients on what 'real' cover is.

    Then it is left up to us to pick up the pieces of when the inadequate or misrepresented policy does not sufficiently cover the Insured for what they have.

    Direct Insurers' policies should come with a bright red sticker that says, "WARNING this product may be harmful! as it was provided using General Advice only" (not that any general "Joe Blow community" knows what the mean of General Advice is.

    Where is NIBA in all of this????
  • Lee | 02 Feb 2015, 09:04 PM Agree 0
    Louise, if you understood the policy, perhaps you might have a better relationship with your clients.
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