Insurance is a necessary expense for every person and business to ensure financial and risk protection. So when the time comes to make a claim, you expect that the insurer will pay the full benefit of the policy. Unfortunately this is often NOT the case.
Insurers often take a very narrow or incorrect view on the clauses contained in policies to restrict payments or in the worst case scenario, exclude policy coverage.
The Insurance Contracts Act 1984 ('the Act') governs the operation of contracts of general insurance including business, home and motor vehicle polices and a high onus is placed on insurers to act reasonably and meet its obligations required by the Act. Some of these include:
1. Acting in good faith
2. Assessing a claim in a reasonable time period so as to not cause ongoing loss
3. Accepting that non-party beneficiaries may be able to claim under the policy
Chris Mills, principal, have previously acted for insurers for over 20 years and has an intricate knowledge of policy coverage and the approach taken by insurers. Importantly, Chris can advise regarding the best approach to ensure the full benefit of the policy is paid.
If you feel you are getting short changed by your insurer, please contact Reveal Legal to discuss your claim and what you are entitled to.