FACTS: Short Term - Top up cover not placed on a policy. Mr X buys a new car and calls in with the details. Your consultant takes down the instruction and gets all the detail and paperwork together. Policy amendment is issued. Vehicle is written...
FACTS: Medical aid scheme. Client got married and asked that his new spouse be placed on his medical aid. You do the paperwork and submit. You then go on leave for two weeks. Your mail never went through and your assistant did not pick this up....
It is important that you understand your policy wording for the PI scheme that you are on. Most policy wordings will require that you notify the insurers as soon as you know of an incident that can lead to a claim. Example: Your client is unhappy...
FACTS: Client claimed R98 000 from broker because his motorcycle was stolen and it was not covered. The client had 2 motorcycles on a separate policy. He sold one of them and the broker, not picking up the second motorcycle, cancelled the policy. DECISION: The PI...
I have picked up in almost all of the PI claims for brokers that cross my table that it seems we do not record our conversations with our clients during personal consultations. Maybe we feel uncomfortable or are afraid what clients might think. The reality is...
In a recent Ombud matter the broker received a call from a client asking about alternative accommodation cover and if he would enjoy such cover in terms of his policy. The broker informed the client that he would have cover if he claimed and that he...
I just dealt with a claim on behalf of one of my clients and it again just highlighted that short term advisors need to highlight potential reasons for repudiation of claims and discuss this with their clients. (Also applicable to life products) In this case the...
Make sure you cover all your basis at renewal of your client’s policies. I will be sharing the top reasons why claims are repudiated on personal lines policies over the next couple of weeks. Make this part of your renewal process and document your discussion carefully....
Make sure you cover all your basis at renewal of your client’s policies. I have mentioned in previous posts that there is a duty on you as broker to highlight areas where your clients can pick up problems with claims. If you do not do this you...
Make sure you cover all your basis at renewal of your client’s policies. I have mentioned in previous posts that there is a duty on you as broker to highlight areas where your clients can pick up problems with claims. If you do not do this you...