Truth in insurance
All insurance advertising must have an accompanying statement as to the length of time to make a claim, the percent of claims honoured, the percent taken to court, and the average coat in person hours expended by the insurer per dollar returened in claims. Also it must be declared which comapny handled the claims, which country manages the claim process and the person selling the insurance must be called a broker in all advertising if they do not handle the claim.
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duncan cairncross commented 2016-11-30 17:09:03 +1300We need education on this
Insurance is only useful to “insure” against unusual and expensive events
If you are “insuring” against a regular event – like a doctors visit then you are better simply saving the money and avoiding the insurers cut -
duncan cairncross tagged this with interesting 2016-11-30 17:09:03 +1300
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Luka Love tagged this with interesting 2016-11-30 14:51:29 +1300
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Graeme Kiyoto-Ward commented 2016-11-30 09:20:49 +1300Probably comes under the heading of consumer protection law. Probably worth having a policy on that. For the most part, consumer protection law in NZ is good with the off exception. May not be a core policy to drive the party forward (I wouldn’t call it an Icebreaker Policy) but it’s worth having a good position on it so that if it comes up in the news, we quickly make a statement and piggy back on the media coverage.
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Graeme Kiyoto-Ward tagged this with interesting 2016-11-30 09:20:48 +1300
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Alan Barraclough commented 2016-11-29 21:34:22 +1300i mean truth about the effort required by the insuree to actually get the claim processed.
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