Australia's #1 for Law

Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!

FREE - Sign Up Now

NSW CommInsure Discontinued Insurance with Commonwealth Bank - Affect My Credit History?

Discussion in 'Insurance Law Forum' started by Ash25, 13 March 2016.

Tags:
  1. Ash25

    Ash25 Member

    Joined:
    13 March 2016
    Messages:
    1
    Likes Received:
    0
    I had CommInsure portable device insurance and claimed 4 times in a 2-year span (2 for repairs and 2 for loss of phone). The repairs were nominal (100-200 AUD). After this, they sent a letter that they have discontinued my insurance with Commonwealth Bank.

    I have two questions:

    1. Does this impact my credit history?
    2. As all claims were genuine, is there any way I tell them to continue my policy again?
     
    #1 Ash25, 13 March 2016
  2. Victoria S

    Victoria S Well-Known Member

    Joined:
    9 April 2014
    Messages:
    518
    Likes Received:
    58
    Read the policy. The terms and conditions of insurance may enable them to discontinue insurance after a certain no. of claims. A company has the right not to sell you a certain financial product if they choose.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #2 Victoria S, 9 October 2016
  3. Iamthelaw

    Iamthelaw Well-Known Member

    Joined:
    13 September 2016
    Messages:
    386
    Likes Received:
    76
    1 - No it will not impact your credit history. It will impact your ability to apply for, and be granted insurance in the future though given your duty of disclosure.

    2 - Generally, an insurer is allowed to refuse to renew a term of insurance or even not offer you insurance in the first place. I would check your PDS to be sure though. Moreover, you could contact the Financial Ombudsman Service for more information or for conciliation in an attempt to solve the matter.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
    #3 Iamthelaw, 29 October 2016
(You must Log In or Sign Up to post here.)
Loading...
Similar Threads - CommInsure Discontinued Insurance
  1. smalljimmy

    Should the self payment be returned when insurance is canceled?

    smalljimmy, 25 September 2017, in forum: Insurance Law Forum
    Replies:
    7
    Views:
    227
    Homer jay
    26 September 2017
  2. Craigl

    NSW New Definition of TPD Insurance?

    Craigl, 25 September 2017, in forum: Insurance Law Forum
    Replies:
    1
    Views:
    159
    Craigl
    25 September 2017
  3. Suz27

    NSW Accident Damaged Car - Who is Liable?

    Suz27, 8 September 2017, in forum: Insurance Law Forum
    Replies:
    2
    Views:
    225
    Zerojay
    11 September 2017
  4. IanE

    VIC Insurance Licence assessment

    IanE, 5 September 2017, in forum: Insurance Law Forum
    Replies:
    1
    Views:
    117
    Rob Legat - SBPL
    5 September 2017
  5. Hieu Tang

    VIC Comminsure Cut Tree Without Consent - Claim Compensation?

    Hieu Tang, 7 March 2017, in forum: Insurance Law Forum
    Replies:
    4
    Views:
    801
    Hieu Tang
    28 March 2017

Share This Page

Toggle Width
Loading...
gt;