Russell Hutchinson Opinion

How junk is junk insurance and why should you care?

Thursday 1st of August 2019

What do people mean by junk insurance? Several types of insurance cover were referred to as "junk insurance" during the proceedings of the recent Australian Royal Commission. The hallmark of junk insurance is usually two things:

  • A very low ratio of claims to premium
  • A high ratio of declined to accepted claims

What is a low claims rati...

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