Wednesday, January 19, 2011

Buyers Are Liars

That's an old saying from the car sales industry.

For example, when did you last volunteer to the dealer all that was wrong with your trade in vehicle?

On the evidence of today's Australia's ABC, the saying is alive and well in the insurance industry.

Get this:-

Some Queenslanders say they have not been able to get flood cover, but the industry says that is a furphy.

Mr Sullivan says flood insurance is available - at a price - to everybody in Queensland.

The truth is they didn't want to pay the price and decided to take the risk themselves. Now they want some one else to pay.

Sounds to Adolf like there are a whole lot of New Zealanders living in Queensland.


Anonymous said...

I don't believe that comment is accurate Adolf.

Having been involved in the reinsurance industry, trying to obtain flood cover for Australian Insurers has always been a major. Most insurers I was aware of didn't offer flood cover. There was a move to offer flood cover to those without significant exposure (ie. those not within the known Brisbane flood plain for example) but I don't believe it was widely taken up.

Insurance covers the unexpected. As most of Australia is a floodplain, flooding is always expected (hence the Queenslander homes on stilts). That is why Aussie Insurers have always avoided flood insurance.


Adolf Fiinkensein said...

Paranormal, essentially you are calling Mr Sullivan a liar.

Care to comment?