"After 40 years in the insurance industry, I've come across lots of cases where another broking firm has failed to provide adequate cover, or there's been an omission that has cost the client dearly. You simply can't leave your insurances to someone without the specialised expertise and track record. That's especially so in Strata."
"During our review process with a newly acquired client some time back, we identified that their previous policy had not adequately covered a very specific area of risk for their machinery and equipment. We rectified that in our cover.
As it turned out, several months later their air conditioning system failed and a claim was lodged and accepted immediately and paid in full. It was a sobering experience for the client.Had they been still with their previous cover, they would have been out of pocket $160,000.
Recently too, we had a call from another client whom we had alerted to an omission in the common area contents cover set up by another broker. A burst pipe had resulted in water damage to carpets in the common area. Although the insurer initially declined to accept responsibility, we went in to bat for our client, and the $3,500 claim was paid in full. Not a payout of the same magnitude, however another clear example of the critical importance of working with an industry specialist.
I can't stress to my clients enough that Strata is a complex area. We're proud that our experience and ability enables us to lead our clients safely through the insurance 'minefield'. In fact, the Austbrokers Strata Division has a dedicated claims team. We are there when you need us most."
"The insurer initially declined responsibility, so we went in to bat for our client..."