Article provided by King Price Insurance
The Urban Dictionary definition of insurance is ‘business that involves selling people promises to pay later, that are never fulfilled’. It’s supposed to be tongue-in-cheek – but for many, there’s more than a pinch of truth in that statement.
That’s why there are literally hundreds of laws in force to protect you, as a personal insurance client or as a business owner (no matter the size of your enterprise), from being treated unfairly by the financial services sector. These rules mean you’re safe from unscrupulous behaviour, and protected if your insurer goes ‘belly up’. For example, the latest rule revisions mean that insurers have to tell you how benefits and ‘bonuses’ are calculated. (Hint: Your bonuses aren’t ‘free’. They’re built into your premium.)
Another big requirement is for insurers to be as fair and transparent as possible. This means using plain, every-day language, making sure that clients have all the info they need, and not hiding behind fine print when it comes to benefits and pay-outs. It also means making sure that products do what insurers claim they will, and making it easy for clients to change a policy, make a claim or submit a complaint.
Every insurer says that their client is at the centre of their business. At King Price, we’re all about making our clients’ lives as easy as possible, and protecting them when disaster strikes. We’ve written all our policy docs – personal, business, agri, community and engineering – in simple English, so our clients know exactly what they’re signing up for. We’re constantly working to make our claims process as quick and painless as possible, and we also make it easy for our clients to talk to us, whenever and however they choose. And, we’re always listening… On the phone, on email, on social media. After all, this is a relationship business – and we’re keepers.