Personal Accident & Illness
The Insured is a 22 year old Builder who sustained a severe laceration to his finger whilst working. He had only commenced his business 1 month prior to sustaining the injury. He had taken out an Agreed Value Policy for $1,000 per week.
The Insurer accepted the claim and paid within 3 business days. They required no financials due to the policy being Agreed Value
The provision of the claims examples are for illustrative purposes only and should not be seen as an indication as to how any potential claim will be assessed or accepted. Cover for a claim will depend on the specific circumstances around the loss and would be subject to the terms and conditions of the policy concerned. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained in this email is general only. Coverage for claims on the policy will be determined by the insurer, not BizCover for Brokers, and will depend on the specific facts and circumstances involved.