“Underwriting At Time Of Claim Is A Serious Problem” – Sen. John Williams

“Underwriting At Time Of Claim Is A Serious Problem” – Sen. John Williams

Insurance
Insurance underwriting is the process by which investment bankers or ‘underwriters’ evaluate the risks and exposures of the policy and whether the insurer is in fact, willing to provide cover at all. If a specific applicant's risk is deemed to be too high, underwriters may refuse to cover you. During the appearance of Financial Services Council (FSC) before the committee, NSW National Party Senator John Williams has described direct insurance and underwriting at the time of claim as a serious problem for the life insurance industry that needs to be addressed. Similar concerns about this matter have been expressed by both Association of Financial Advisers (AFA) and the Financial Planning Association (FPA). Williams believes that it is a serious problem “when people think they have insurance and it may well…
Read More
2017, What Will You Achieve?

2017, What Will You Achieve?

Business, Insurance, Investments, Superannuation, Taxation
If you are wanting your 2017 to have a better outcome than your 2016 and you haven’t started your New Year differently don’t expect to end it differently (although it is not too late to make changes). We are already well over half way through January 2017. What have you done in a different way to what you did in 2016? The new year not only brings a new number to remember when writing the date but it also brings with it opportunities to start afresh, to make a change, set a new goal (make it a little challenging), take a chance or simply improve on what may have been a great 2016. So here at Accession3 we are not going to promise to help you lose weight, have well…
Read More
Specific Injury Cover For Sports Players Is A Must

Specific Injury Cover For Sports Players Is A Must

Insurance
In my spare time I coach a Men's Soccer team here in Toowoomba. As I started planning on my fifth season as coach, I reflected on the past and one thing stuck out at me: In my 4 years as coach I’ve seen on average 2.5 serious injuries (broken bones, ACL tears etc.) each year in our squad of 40-or-so players. So let’s say this is a 1 in 16 chance a player will suffer major injury. For some players a major injury isn't an issue. For others it's going to stop you from working and earning an income. But the other cost we don't think about is whether any of us can afford the cost of the injury, treatment & rehab. After discussing the injuries suffered by my players,…
Read More