The IA Risky Business

We started a series earlier this year where we delved deeper into individual products to give you a better understanding. These have been personal lines products like Home, Boat and Car. Wrapping up this series is one a lot of people don't consider but is pretty important, Trailer insurance. It's true a trailer whilst being towed by a moving vehicle usually has cover under the motor vehicle insurance. I stress usually. There are some bare bones products on the market that may not include this benefit so please check your PDS. What this means is if the trailer is damaged or causes damage to another persons property whilst being towed your car insurance for the towing vehicle should cover it. Again check your own PDS to make sure. Being in this industry though we see when things go wrong. How often do you leave your trailer beside your home or in the front garden? It's pretty easy for someone to come along and hitch it up and take it away. Your Car Insurance on that tow...

Risk is the nature of Insurance. Businesses take risks everyday. When they want to transfer part of that risk they purchase Insurance. Often though when you think you've transferred the right amount of risk you end up surprised by a condition or exclusion in a policy that you didn't know existed. This means you didn't transfer the risk at all and have been paying a premium for nothing. It's a common theme that we see on a regular basis. It's also the reason we spend so much time IN our clients business and not in our office. You cant expect to learn a clients business sitting in your own office. We thought today we'd give you a couple of real examples of clients who have been caught out by either bad or no advice, or presuming cover was correct. We provided an alternative option to a Manning Valley client over Christmas. Public Liability for all their projects and contracts was a key for them. They were with a recognised Insurer through another agent. ...

It's not often I'm lost for words but I find myself this morning with writers block. Nothing to fear, the sky isn't falling or the wheels aren't falling off just short on words. You watch I'll still manage to ramble on but thought you might want to know that this morning the usual structured plan I try to work on is very ad lib. It's probably to do with the fact that after 2 months of non stop negotiation and work on our clients claims we wake up this morning with all bar one put to bed. So what has been the norm this year has now passed and we can focus on other things. Just gotta RE - figure out where those things begin. It's a very draining process. Claims are what people rate insurance by. OK so people first look at price. No doubt about that. Anyone who knows me knows that I am keen to educate consumers that price when it comes to insurance should not be the number one priority. Often when you want cheapest only you pay for it come claim time. Mos...

Federal Minister Bill Shorten recently spoke to an Industry group and stated the following; "While I believe that consumers generally understand what Insurance brokers are, consumers are not fully aware of the important role that Insurance brokers play in the market." Put simply people know who brokers are, but not what we do. It's sad because when you consider Insurance brokers have been around for many many years and yet the market still does not fully comprehend the role within the framework of their business. Particularly within our home region as we have had strong Broker presence for decades. If our market still does not grasp our role then what are we doing wrong in selling the value of partnering with a broker to protect your business. Far too often Insurance is portrayed in the media as this light fluffy almost comical thing. We seem more wrapped up in whether Rhonda and Ketut hook up then what an Insurance company can do for you when you need it most. Un...