GREG'S LEGACY

Specialising in the human experience of Living with prostate cancer – warts and all

Australian Insurance industry on notice

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So, we read that the insurance companies are going to make it tough on policy holders claiming for flood damage in Queensland.

They have no right to cry poor.  Insurers take their own protection via reinsurance companies to offer a buffer on an insurer’s payout in a large-scale disaster and should not be holding back on policy holders.

It is the same insurance companies who have been telling us for years that our natural disasters are becoming more devastating and more frequent because of climate change.  The very concept of insurance is betting on these events and costing the policies accordingly and they have certainly been increasing premiums as the odds have changed.

Now is not the time to be scheming their way out of paying up.

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Written by Greg Naylor

17 January 2011 at 12:11 pm

Posted in PERSONAL

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