Viewing entries tagged with 'claim'
AFRM helps client receive $52,500 being diagnosed with cervical cancer.
AFRM, one of Australia's leading specialist risk practices, is proud to announce they have now managed over $100,000,000 worth of claims since the inception of the business in 1997.
AFRM helps client receive $12K after she fractured her collarbone in a bike accident.
CommInsure are in full damage control after this weeks Four Corners program exposed some very concerning practices. In essence, it is alleged that CommInsure goes out of their way to find reasons not to pay claims. We feel we should respond to this.
After reading our article on the 6 reasons to have Income Protection cover, an AFRM client contacted his adviser and was able to make two claims.
If you’re an adviser who has never had to deal with a claim, the first experience can be quite daunting. We profiled two advice businesses with a strong track record in claims management to uncover their ‘best practice’ approach when it comes to dealing with clients and insurers at claim time…
The Risk Store recently released its 2012 industry statistics for retail life insurance claims announcing that the retail Life Insurance industry paid out over $4.4 billion in claims in 2012, an increase of approximately 10% on the previous year. This amount was paid from a total of over 70,000 claims. These figures do not take into account additional amounts paid out from superannuation funds which would make the total amount paid out to Australians, much higher.
In early May we put the insurer on risk of a pending claim for one of our clients who collapsed whilst on holidays in Melbourne. The episode was the result of a siezure but there was no prior history of seizures. MRI scans showed a right parieto-occipital meningioma (benign brain tumour). Our client was operated on in May and the tumour removed and she recovered well. A Trauma claim was lodged prior to the operation and the insurer as part of the claim process set about obtaining medical reports from the neurosurgeon and then went back to the specialist seeking further clarification as to whether or not the claim met the definitions in the contract. This was important as they needed be be sure the diagnosis met the definition of Benign Brain Tumour in order to pay the Trauma claim. On 30 July they declined the claim based on the medical reports. After meetings with the client to seek their approval we wrote to the insurer on August 6 advising that we disagreed totally with their decision. We referred them to the upgrade provisions and the definitions contained within the contract and to the determination by the neurosurgeon. On August 8 the insurer wrote to our client, referring to our letter and agreed to pay the claim. Undoubtedly, this was an excellent result for our client and confirms our belief that our most important role is to be there when our clients need us the most, at claim time. So far we have had over $40M paid in claims to our clients.