When you take out an insurance policy you hope you never have to make a claim, but if you do, you expect that your claim will be paid. Unfortunately, the recent revelation regarding some of CommInsure’s claims payment practices, as exposed on 4 Corners on Monday 7th March, went a long way reinforcing ‘Joe Public’s’ view about insurance companies, that they will always look for a way to avoid paying out a claim, or a claim to the full value of the policy.
From a public relations point of view, this program was a disaster for both CommInsure and the insurance industry in general. Whilst insurance companies must 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 and all have been honoured and paid promptly.
We believe this is because. MBS Insurance, the insurance broking business, we outsource our clients’ insurance needs to, has the knowledge as to which insurance companies can provide the most appropriate policies for our clients. MBS has built strong relationships with their preferred insurers and this assists a smoother process when underwriting, and in processing claims. Below are some links you may like to read from MBS Insurance. MBS correspondence to clients Authority to obtain information only Promises kept MBS Insurance March 2016
NOTE: MBS Insurance is no longer associated with Lonsdale Financial Group Limited
DISCLAIMER We must advise you that Lonsdale Financial Group Limited does not exclusively use or endorse MBS Insurance but remains our preferred provider of insurance advice to our clients.
This article appeared in our April 2016 newsletter.