This week’s star letter goes to Paul Smulovitch for his comment on: Insurance Act will bring improvements, but brokers must prepare
Issues here lie with even more regulation and pressure on the broker. Cost/time per sale has already significantly risen in the last few years, with further regulation and burden it makes for a tricky time.
There are brokers who may potentially do what’s right for them as opposed to the client but the majority who are honest and full of integrity this is another example of leaving the brokers with more hardship and potential for further legal action when only clients best intentions were at heart.
If clients feel there’s a way to get 10s or 100s of thousands then many will irrespective of the damage this can cause a broker. Its sad to see the industry go overboard with legislation when in the vast majority [of cases] it isn’t required.
