Too hard to read
Can companies rely on their policy documents if there is a dispute with a client over what is covered?
Perhaps not. If the ‘average client' has a reading capability below that of, say, a university graduate, but the complexity of the language is such that only someone with higher education might be expected to understand it, then they might fairly claim that no-matter how hard they read the document, it is not reasonable to expect them to understand it.
Unfortunately many documents are too hard to read...MORE»
Encouraging Healthy LifestylesMonday, December 19th, 9:43AM
If you've been selling insurance for more than 20 years - and the chances are you have - then you may recall an earlier, happier era when loadings were rare and summer start in November. MORE» |
Who should be made to comply?Monday, November 28th, 12:11PM
There is plenty of talk about advice-level compliance, and to be fair there is quite a lot of regulation of product providers (which we shall turn to later) but most of the law and regulation is about the adviser. MORE» |
Gems from the Principles of Risk Management
Checking out the draft standards for risk management proved to be more interesting than I thought. Expecting a quick ticket to the land of nod I was therefore pleasantly surprised at how useful they were. You should give them a read too.
MORE»What is your IP and how do you protect it?
It’s not what goes into that counts; it’s what comes out
In various places and at various times we have seen calls to manage some of the components of what goes into the insurance you sell or buy. These are often motivated with the best of intentions – say consumer protection – yet are almost equally often wrong-headed, or in doing some good do some wrong.
MORE»Misadventures in Insurance
Swapping morbid stories and statistics is a reliably good way of having a conversation with an insurance person.
MORE»What advice can you offer your old whole of life clients?
Russell Hutchinson looks at the vexed question of what insurance advisers who are RFAs can do with clients with whole-of-life policies.
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