Youi in the spotlight

youi-pty-ltd-logoDisappointing, however in some ways not surprising, Youi Australia is now being questioned about their practices following a media field day in New Zealand which I reported on back on August 12.

Now in Australia, the Sydney Morning Herald is claiming through whistle blowers that there was a culture within the organisation for behaviour which would appear not to be in the spirit of Utmost Good Faith, which as I have repeatedly reported is paramount to the future success of the insurance industry.

2 responses to “Youi in the spotlight”

  1. Georgie says:

    For brokers its very hard at the moment to compete with the direct market premiums for home and motor. We have quite a few clients who will happily take our advice and services for their commercial risks, but don’t see it necessary for their personal assets. I hope that soon people will see that whilst we may be dearer, there are positives to having a professional middle-man checking information, collecting signed forms, pointing out limitations of cover and possessing the knowledge necessary to argue if the insurers try to apply unfair conditions (which is mostly unintentional, in my experience most insurers have the right attitude to paying claims).

  2. Allan says:

    I agree 100% that having someone in your corner is extremely valuable at claim time.

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