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Brokers: How to avoid getting sued

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Insurance Business | 08 Jun 2012, 12:06 AM Agree 0
EXCLUSIVE: Insurance Business gathers legal advice to provide the essential tips you need to ensure you are not on the wrong end of a costly, and potentially ruinous, legal bill.
  • Robert Cooper | 08 Jun 2012, 11:01 AM Agree 0
    Vero Insurance is one of the few, indeed pride themselves on the fact they do not require proposal forms to be completed.
    In fact it was not very long ago that you had to call their call centre in Adelaide to get a quote. Their word against our word on the phone. They hated receiving anything in writing. There is still an onus for the Broker to get something signed and declared from the Insured. Vero could help by allowing us the option of a pre-populated proposal form that we could ask the client to sign confirming the information we entered into the Vero system was correct. Other insurers do. Vero have relied on the Broker to get everything spot on correct yet could have assisted with some double checking methods such as a "Things you told us" declaration which may have had the client pick up this oversight. Vero, please provide this additional tool.
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