Client sought $200,000 saying adviser mislead him about insurance cover
However, although the adviser had all the documentation about quotes and the policies involved, he didn’t have detailed notes of the calls and meetings with the client, which could have led to the complaint being discontinued earlier or prevented a dispute being made to the FSCL in the first place.
Originally the client, who was a franchise business owner, had had a number of insurance policies (material damage, public liability and commercial vehicle cover) arranged through a previous adviser, but wanted to change insurers to reduce premiums.
He approached the adviser who was the subject of the complaint and they had a detailed phone conversation in June 2021. He also emailed the invoice schedule for his current policies and the adviser said he would arrange quotes.
The adviser obtained quotes from another insurer for material damage, public liability and commercial vehicle cover, which he passed on to the business owner. The parties met several months later to discuss the insurance.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)