Topic: Business insurance

Kaia’s business insurance claims were declined by her insurer. Were the claims being declined the adviser’s fault?

Mark had a business insurance policy (material damage) recommended by his broker. Mark needed to make a costly claim of $110,000, but his policy didn’t cover the full amount of damage due to a policy limit of $10,000 for equipment damaged off-site – even though Mark had a total sum insured of $150,000. Did Mark’s broker make a mistake?

Ishan purchased business insurance after he had already begun trading. Would he be covered for faulty wheel alignments performed before inception of the insurance?

Bob of Bob’s Builders submitted a claim to his insurer for the cost of replacing some cladding that was damaged by a paint-stripping company who worked on an apartment block Bob’s team was constructing. The insurer declined Bob’s claim because the damage was due to faulty workmanship – was this decision correct?

When Marie’s insurer did not renew her policy she was left uninsured for claims arising from events occurring while the policy was in place.

Mirae didn’t declare her previous convictions when taking out insurance. When she needed to make a claim, it was declined, and her policy voided.

James was a victim of fraud, but his insurer relies on a questionable exclusion clause to decline the claim. Does the exclusion apply?