Viewing entries tagged with 'insurance claims'
AFRM Claims Advocacy has called on the Parliamentary Joint Committee examining if life insurers should be allowed to provide rehabilitation payments to clients to recognise the extremely strong case in favour of doing so set out by the Financial Services Council (FSC) in its recent Cadence Economics research findings.
Advised life insurance has a higher rate of admitted claims than non-advised insurance across all four product types, according to new data released by ASIC and APRA.
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.