How junk is junk insurance and why should you care?
Recent articles headed “junk insurance” could be seen as the broad brush of journalism splattering tar on all insurance. Could we instead treat it as an opportunity to talk about quality?
What do people mean by junk insurance? Several types of insurance cover were referred to as "junk insurance" during the proceedings of the recent Australian Royal Commission. The hallmark of junk insurance is usually two things:
- A very low ratio of claims to premium
- A high ratio of declined to accepted claims
What is a low claims ratio?...MORE»
The pace of change, and why it’s importantMonday, July 15th, 12:14PM
What’s the most interesting thing an insurer has done in the last few months? MORE» |
Can you spot the single-issue fanatics?Monday, July 1st, 6:00AM
A couple I know, both friends that I love dearly, argue at times. One calls the other a ‘single-issue fanatic’. Both admit this could be code for ‘nagging’. Some advocates are like that about commission. MORE» |
Here's why you haven't seen many CEOs and senior execs recently
Russell Hutchinson outlines many of the issues insurance companies have their heads buried in at the moment, and why advisers haven't been seeing many of the industry leaders out and about.
MORE»Odd priorities – and how some are resolved
Life is full of risks and one cannot manage them all. Most risks have financial consequences, and it is the money-part of the problem that we can best manage too, but it is worthwhile remembering that while money is the currency of our interactions with the world, it isn’t an end in itself.
MORE»The many different kinds of financial adviser
Sometimes, the principle of mediocrity seems to rule supreme, while at others, the incredible diversity of financial advice surprises.
MORE»The market for adviser businesses
Strong buyer interest in adviser business in general, and specifically life insurance client bases, has been a growing feature of our market segment for the last twenty years.
MORE»How to complain
There is much to complain about, I mean it. There is bad advice, bad behaviour, bad advertising, and sometimes, outright fraud. No wonder you want to complain.
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