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Insurance Business | 31 Aug 2016, 09:00 AM Agree 0
Direct insurer model under fire as brokers call for ASIC crack down. Is this an opportunity for brokers to show their worth?
  • mark | 31 Aug 2016, 12:11 PM Agree 0
    Cheap insurance means cheap cover, Youi and other direct insurers are taking the customers money without regard for the customer's circumstances. As Brokers we tailor policies to suit clients. Its time ASIC stops the direct insurers from selling just on price alone, the COVER is the only thing the client needs in the event of a claim.
  • Paul | 31 Aug 2016, 03:33 PM Agree 0
    To suggest that all direct insurers engage in practices that Youi are alleged to have carried out is a very large generalisation. ASIC periodically reviews the direct insurance market and if it thought there was a broad issue it would act.
  • Shenaede | 01 Sep 2016, 04:24 PM Agree 0
    Dodgy insurance practices. One WA insurer, does Agreed value motor policy but when the client has an accident, the payout is Market value thinking the client's wont notice. Some insurers purposely delay payments of any claim up to the point of a FOS complaint. Why?? Money stays in their bank account earning interest and then they payout.
  • Middleman | 03 Sep 2016, 06:54 AM Agree 0
    What companys do the brokers use?
  • Scott | 12 Sep 2016, 03:17 PM Agree 0
    To suggest that all direct insurers are dodgy is about as valid as suggesting that all brokerages care about is cover for their clients - I've seen both but I've also seen some great direct insurance models and plenty of Brokers who focus on nothing but providing the customer with the cheapest price regardless of cover.

    The direct insurance market exists for a reason.
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