You may be appropriate for a “Detriment Assessment Review” through Combined Insurance’s Remediation Action Plan if you purchased a Combined Insurance sickness and accident insurance between January 1, 2012, and February 24, 2016.

After an investigation by the Australian Securities and Investments Commission (ASIC) into Chubb Insurance Australia Limited’s Combined Insurance Division, ASIC discovered manysituations of delinquency by Combined Insurance’s Authorised Representatives, prompting Combined Insurance to start an Enforceable Undertaking with ASIC.

The Combined Insurance Remediation Action Plan (RAP)

The RAP permits qualifying consumers who have been harmed or have lost money as a result of the sale of these insurances to seek compensation.

The Australian Securities and Investments Commission (ASIC) highlighted the following problems with Combined Insurance:

  • Insurance policies are being oversold:

Clients were sold policies that were identical to the ones they already had.

  • Disturbing of insurance policies::

Clients were urged to cancel their old policies and replace them with new ones that provided no advantage and, in some cases, were detrimental to the client.

  • Unsuitable insurance plans are sold::

Clients were persuaded to purchase policies that would exclude them from coverage.

You should opt for independent legal counsel if you were sold a Combined Insurance sickness and accident coverage between January 1, 2012, and February 24, 2016.

If you get a written invitation from Combined Insurance to participate in the RAP, you have a time period of 12 months from the date of the invitation to register for the RAP. You may still be able to make a legal claim if the insurance you were provided was improper for your specific needs and you did not get an invitation.

Are you eligible to have your insurance policies reviewed?

If you were sold a Combined Insurance sickness and accident policy between 1 January 2012 and 24 February 2016, you should seek independent legal advice.

We provide a free initial consultation and if we take on your claim we will act on a ‘no win, no fee’* basis.

If you have received a written invitation to participate in the RAP from Combined Insurance, you will have 12 months from the date of the invitation to register for the RAP. If you did not receive an invitation, you may still have a legal claim if the insurance you were sold was inappropriate for your personal needs. We can check this for free.

We have offices in Melbourne, Sydney, Brisbane, Perth, Adelaide, Darwin and throughout Australia.

Please contact us if you would like assistance in requesting a review or in the RAP process.

All you need to know about financial advice disputes

Have you been given wrong, misleading or negligent advice from financial planners, brokers or financial advisors? We can help you recover what’s rightfully yours.

Financial services dispute cases

  • Financial advice disputes
  • Commonwealth Bank Open Advice Review program
  • Macquarie private wealth
  • NAB financial advice
  • Big Banks pushing in-house products
  • Financial Circle Pty Ltd
  • Combined Insurance sickness and accident policies
  • Irresponsible lending disputes
  • NAB lending misconduct
  • Future of finanical advice reforms

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Our financial advice disputes lawyers are experienced in winning fair compensation for our clients on a no win, no fee basis.

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