Jenamireal

Last month I had two accounts under threat… Both household insurance and whilst these can be small accounts, these two weren’t. One was $8000 and the other $5000 which is a hell of a lot to pay for home insurance each year. One was a solicitor, the other a professional cricket player.

I lost the solicitor to a direct insurer for half the premium (and most likely half the cover) but I saved the other who was threatening to go to NRMA.. After explaining the huge difference in policy coverage and the fact that the prestige coverage suited their lifestyle and the NRMA didn’t, common sense prevailed and they stayed with us for another year. It will probably be another fight this time next year but that’s part of the game.

I was given an interesting article today about a client that approached a broker for a quote on an expensive yacht. The client chose the slightly cheaper option by going to a direct insurer. Unfortunately when a direct insurer claims “we cover you for everything” clients believe it. A few months into the policy the boat sustained severe damage over night. They put in a claim to their insurer only to have it declined because the damage did not occur during daylight hours. This information was in the fine print under the exclusions. So I guess my point is.. sometimes a policy may be more expensive with a broker but is generally because we can provide a much better coverage.  Would you prefer to save a few hundred dollars at renewal or thousands in the event of a claim..

Friday 4th July was our EOFY party.  It’s a time when the insurance industry drinks alot and generally has a good time… if they can remember it that is.. it’s very similar to the Young Professionals Christmas Party which I should attend at the end of the year.  I skipped last year. This year I was good, it was not so much about the drinking (although I did have more than I originally planned). It was more of a time of reflecting not just over the past 4 years or so i’ve worked there but it was also a farewell so to speak to Tom.  It was great to see Tom it was also a bit of a wake up call. He has lost 15kgs or more and aged 10 years or more in a few months. Both Tom and his wife walked aound the table hugging everyone in the room – He was a trooper, he stayed out for a few hours talking of his busy life with the trips to the specialists, the Gym at Calvary and the chinese medicine man. He has maintained his great sense of humour and is unbelievably positive considering the situation he is in. But deep down when he and his wife spoke you can see the hurt and the uncertainty about the future. 

Tom officially left the company at the end of June when his share in the business was sold.  First Brian (another Director) got up to make a speech and then Tom. As soon as Tom mentioned “the future” he started to crumble followed by everyone else in the room.  Most knew there is a good chance that this will be the last time we see him.    Let’s hope we are wrong!