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Unfortunate QNF communication on insurance

In a communication to members yesterday, Ann Nugent QLD CEO of the ANF provided advice on insurance. My understanding is that Ann is not licenced to provide this advice. If Ann was licenced to provide the advice the licence number ought to appear on the advice. Ann could have sent the information saying as advised by the QNF brokers but she has not done this.

Ann’s advice refers to the risk of underinsurance. There is evidence circulating in Queensland of underinsurance being offered by providers to the newsagency channel. One can only guess that this is being done to achieve a lower premium. Such a goal does not make good business sense. As with any such business decision, be cautious and be satisfied that you know what you’ve got.  Seek the advice of a professional.

The QNF is an industry association purporting to represent newsagents. Their communication needs to declare any commercial arrangement on the matter being communicated.

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Newsagent representation

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  1. shauns

    Don’t really care about it Mark sorry to say saved over a hundred dollars on the golden casket insurance thank to the QNF emails . Thumbs up to the QNF on that one

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  2. Ian Jones

    Unfortunately some businesses will look at the bottom line, that is the almighty dollar. Under insurance or co insurance is a common clause in all insurance policies under the Fire & Perils as well as Business Interruption. In short if you are under insured at claim time the insurer will reduce the amount you should be paid by the percentage of the true value vs the insured value. It can ruin a business and its chance to fully recover from an insured event. People will save cents to give away dollars. Look at your insurance policy and ask questions. It’s too late after the claim occurs.

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