When you take out an insurance policy you hope you never have to make a claim, but if you do, you hope that your claim will be paid. Unfortunately, the recent revelation about CommInsure’s claims payment practices, as exposed on 4 Corners on Monday 7th March, goes a long way to reinforcing ‘Joe Public’s’ view about insurance companies, that they will always look for a way to avoid paying out a claim.
From a PR point of view, this program was a disaster for CommInsure but also for the insurance industry in general for the reasons stated above. Whilst insurance companies have the right to assess the validity of a claim, the vast majority do the right thing by the client.
Luckily we have only had a couple of claims for clients who we have arranged policies for and all have been honoured and paid. I believe this is because the organisation we outsource our client’s insurance needs to (MBS Insurance) have the knowledge as to which insurance companies are best to deal with and have built strong relationships with these companies that make both the underwriting stage and claims process smoother. Below are some links you may like to read which are from MBS Insurance this week. MBS correspondence to clients Authority to obtain information only Promises kept MBS Insurance March 2016