Educating the Public on Under Insurance
With the levels of under insurance in most countries around the world of concern to governments and the insurance industry it is clear that an education program is necessary to explain to home and business owners the risk they take by not insuring fully.
As most in general insurance knows, business policies covering property such as buildings and contents and the all important business interruption coverage do not pay out the full amount, even on a partial loss, if the Insured/business owner is not close to being fully insured.
As part of LMI’s efforts to educate the program, one of our team, Steve Manning from our Melbourne Office appeared this week on the popular television program Dollars with Sense hosted by Dallas Brookes.
Here is a link to their discussion on this important issue. http://www.youtube.com/watch?v=JEDNURnPXRA