I made an insurance claim for a television through my insurance broker. The claim was accepted in writing to the broker by the insurer and then by the broker to me.
I received an email on 13 November 2018 from my broker stating, quote “Please be advised that insurer has issued settlement for your claim as per the following; Replacement TV: $2,695.00, Service Fee: $124.00 Less Excess: $100.00 Total Settlement: $2,719.00. The settlement has been issued into your nominated account. Please allow 2-4 business days for the funds to show in your account.”
I had not received the funds so I rang my broker on Thursday 22 November and they said they would follow up. I spoke with them again on Friday 23 and was told they were waiting for an update from the Claims department of the insurer.
After some back and forth, I was told by my broker that the insurer had decided that they would no longer accept the claim as they believed that the settlement was not for an equivalent product. I disputed this as I had already had the email in writing stating that the claim was settled so it was unacceptable for them to renege.
My broker then referred me to the internal disputes resolution team of the insurer. On 7 December, I spoke with the Customer Relations Specialist of the Internal Customer Relations section of the insurer. They offered me an amount of around $1,000 in settlement and I declined. I reiterated that I had already received a confirmation of settlement in writing for the amount of $2,719.00 and it was my belief that this would be a legally binding settlement. They then told me they would review the case and get back to me although it may take until 20 December before I would hear back from her.
I have written (on Monday 10 December) to that same person (the Customer Relations Specialist of the Internal Customer Relations section of the insurer) and stated it is now causing me financial hardship and I hadn't heard back so I telephoned her today. Voicemail was left although I don't hold out much hope for a response any time soon.
I have contacted Australian Financial Complaints Authority (they are closed today) and will await their response.
I am truly disgusted by the insurer and will be finding a forum that I can Name and Shame them. Won't be insuring with them ever again.
Can anyone offer any suggestions on what ELSE I can do?
I received an email on 13 November 2018 from my broker stating, quote “Please be advised that insurer has issued settlement for your claim as per the following; Replacement TV: $2,695.00, Service Fee: $124.00 Less Excess: $100.00 Total Settlement: $2,719.00. The settlement has been issued into your nominated account. Please allow 2-4 business days for the funds to show in your account.”
I had not received the funds so I rang my broker on Thursday 22 November and they said they would follow up. I spoke with them again on Friday 23 and was told they were waiting for an update from the Claims department of the insurer.
After some back and forth, I was told by my broker that the insurer had decided that they would no longer accept the claim as they believed that the settlement was not for an equivalent product. I disputed this as I had already had the email in writing stating that the claim was settled so it was unacceptable for them to renege.
My broker then referred me to the internal disputes resolution team of the insurer. On 7 December, I spoke with the Customer Relations Specialist of the Internal Customer Relations section of the insurer. They offered me an amount of around $1,000 in settlement and I declined. I reiterated that I had already received a confirmation of settlement in writing for the amount of $2,719.00 and it was my belief that this would be a legally binding settlement. They then told me they would review the case and get back to me although it may take until 20 December before I would hear back from her.
I have written (on Monday 10 December) to that same person (the Customer Relations Specialist of the Internal Customer Relations section of the insurer) and stated it is now causing me financial hardship and I hadn't heard back so I telephoned her today. Voicemail was left although I don't hold out much hope for a response any time soon.
I have contacted Australian Financial Complaints Authority (they are closed today) and will await their response.
I am truly disgusted by the insurer and will be finding a forum that I can Name and Shame them. Won't be insuring with them ever again.
Can anyone offer any suggestions on what ELSE I can do?