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Can you trust 'Comminsure' after reading this url...

Discussion in 'Legal Issues' started by Abooking, 5th Mar, 2016.

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  1. Abooking

    Abooking Well-Known Member

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    I read this on the SMH:

    You can't trust CommInsure - Part 1

    If Comminsure fail to pay out a trauma victim who was paying premiums for yrs will they pay out if my house burns down. Ive been paying premiums for 15 yrs and never made a claim.

    The part 2 of the series is about comminsure not paying out in 'mental health' circumstances. I hope theres a part 3 about home and contents...

    Have you ever made a big claim with Comminsure. If so, how did it go?
     
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  2. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    Very interesting, thank you for sharing!
    Incidentally, we've just switched from Comminsure to NRMA for our home insurance as they bumped the premium by 12% this year!
    NRMA was significantly cheaper and after reading the article above (very nicely done btw), I am glad we changed. Not sure whether NRMA is much better, but they are an insurance business first and foremost, unlike CBA.
     
  3. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Restricted definitions meams you may find that your illness wont meet qualifying criteria for a pay out.

    That is why you have to read contracts carefully and dont just take up the cheapest option because of price alone.
     
  4. datto

    datto Well-Known Member

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    You ave to read the fine print.

    I didn't trust them before reading the report
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    That's just fine and dandy if you can read.
     
  6. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    Well, in this case reading the fine print would not have done the guy much good - he's a diesel mechanic, not a doctor and would not have realised what "2 micrograms per litre of troponin in their blood" means!

    Yet, he suffered a heart attack, and Comminsure knew it (internally acknowledged it), yet denied paying. That speaks volume about the insurer. Not to mention this is an outdated means of evaluating a heart attack.
     
  7. datto

    datto Well-Known Member

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    That's a tough one.
     
  8. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    It raises the question: how is one supposed to evaluate the adequacy of an insurance policy when it is defined in such technical terms? One would need to be an expert in all areas to evaluate the cover provided by health insurance, life insurance, car insurance, home insurance etc.
    Comminsure is not some small dodgy cheap insurer either, and one would assume they would payout when one suffers from a heart attack, if one is covered for a heart attack.
     
  9. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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    Exactly and a finamcial planner could only know so much.
     
  10. datto

    datto Well-Known Member

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    Maybe you have to test your policy by making a claim and see if they pay.

    "I'm sorry Mr Datto, we can't pay your claim because technically you are not dead even though this report shows nil brain activity. Now get out of my office."
     
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  11. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    I had a flatmate works for these... At the time he was boasting about all the people that when joined hadnt answered the questions right on the application forms eg , have you ever been told by a Doctor you had high blood pressure ? Most people tick the no box.

    Of course they take your money but when you go to claim they will check your GP visits and if you ever answered anythung untruthful on the application form... Expect to be declined .
     
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  12. bashworth

    bashworth Well-Known Member

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    Closed all my Commonwealth bank accounts years ago because i was unhappy with the service.

    This insurance scandal and the financial planning scandal have provided me with certainty that I made the right decision.
     
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  13. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

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  14. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    Its what insurers do. The test of quality insurance is only evident when a claim is made. Some have policies to refuse almost all disability claims outright. That's why so many legal firms focus on denied insurance claims. Death is one of the few events they don't argue over unless the policy was obtained through wrongful disclosure / fraud (ie having a terminal medical condition). In this example issues with depression and mental issues are what they are referring to.

    Ironic they have chosen a former CBA staffer who was certified by HRs own medical specialists as unable to (ever) work and the insurer doesn't agree with the finality of that view. Its a unfortunate tale of him being unable to seek psychiatric treatment due to finances - He isn't insured for temporary disablement. They say its not necessarily permanent.

    The policy definition is a key issue before Comminsure is painted as evil.

    Anyone who suffers anxiety on reading this thread who may be considering harm should contact Lifeline on 13 14 14 for personal support.
     
  15. Alex Portnoy

    Alex Portnoy New Member

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    Do all Insurance Claims Managers ever get Commissions for DENYing Claims?

    If you are a Claims Manager, what is your KPI? Also, How did they lose so many patient records at CBA?

    Why does BUDGET DIRECT never payy any Claims? Same reason as CBA?:
    Budget Direct Car Insurance
     
  16. Abooking

    Abooking Well-Known Member

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    I called comminsure to ask about what my excesses are etc so that I could get quotes from other companies. I told the operator that I was concerned about what Ive been reading and seeing on tv about comminsure. She went quite. I had to say to her 'what is your opinion on this?' Then she read out a statement......

    At the end of the day my insurance with comminsure has low excess and low monthly premium compared to what Ive been quoted at other companies. I dont know if this is because I have been with them for close to 15 yrs and never made a claim.

    After all the negative publicity, one would think that they will improve their claims procedures and do anything to avoid more bad press. Thus if my house burns to the ground they would be the last company to not pay out. Do you agree? They surely would not want more bad press as their reputation is on the line.
     
  17. willair

    willair Well-Known Member Premium Member

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    Just another kick in the balls for CBA's unit-shareholders who always end up carrying the can as always,when they get you in with black and white belief,until one understand the rules..
     
  18. Paul@PFI

    Paul@PFI Tax Accounting + SMSF Business Member

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    KPIs = For sure. They also have lawyers on retainer to argue their way if they can. They will spend $100 to save $200 and if they pay the $100 in five years its like saving $150.

    Insurers of all forms love to deny claims. Travel, life, health, car, property etc. Its how they make money.

    Travel insurers have some gems hidden in the standard pre-existing medical clauses. Diabetes and blood pressure are fairly prevalent. The standard contact says if you have either condition (and other examples) the illness is pre-existing and covered. But if you have both you are denied cover for ANY claim. Unless you disclose it and they accept...By paying a higher premium. Or the condition requires a precise blood glucose level...And you didnt know that. Likewise you are days away from travel and your elderly parent dies. Not covered !! Why ? Most have a "pre-existing medical condition of any other person" clauses which excludes or reduces the claim benefit. Basically if they have seen a Doctor or been unwell you wont have a claim.

    And think of all the mugs who buy through a travel agent never reading the PDS.
     
  19. Abooking

    Abooking Well-Known Member

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    Is Comminsure considered to be a 'budget' type insurer in oz?
     
  20. Ouga

    Ouga Well-Known Member

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    "Trying is the first step towards failure" Homer
    No way!