Australia, Insurance, Personal Finance - Thursday, September 1, 2011 8:40 - 0 Comments

Smart Investor blue ribbon awards: insurance

Smart Investor, September 2011

The Queensland floods and Cyclone Yasi provided painful evidence of the need for insurance – and the need to be clear on exactly what coverage you have. By late June, member companies of the Insurance Council of Australia had received $3.64 billion in claims – 68,300 individual claims due to Cyclone Yasi, and 56,200 from the floods – and had paid out $1.93 billion. But for all of those who had received payments in order to rebuild their lives, there were plenty who had never been covered for flood in particular; their plight continues.

With insurance so clearly in the national consciousness, it is a good time to reward those products that look after their customers with clear, reliable policies. With our partners Rice Warner Actuaries, we give awards in three categories (income protection, term/TPD and trauma), alongside the overall life company award detailed earlier in this section.

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