insurance Tag

There’s a lot of discussion happening at the moment about insurance commissions, and their place in the advice industry. Setting aside the reactions that advisers will go out of business, and we'll worsen the underinsurance problem in Australia, when we get right down to the heart of the matter, the question evolves from ...
  • will clients pay for risk advice?, to
  • should clients pay for risk advice, to
  • why would clients pay for risk advice?
If you’ve ever questioned the value proposition when providing advice on insurance, read on…

For advisers providing advice on insurance, it has traditionally been difficult to price that advice. While commissions largely remain post-FoFA, they are banned on some types of personal insurance. In my revised edition of Pricing Advice, I have devoted a much larger chapter to this area. An excerpt from this chapter has run in this month's edition of RiskInfo, which you can read here, and it is also reproduced below...