White Paper
The (often severe) impact of underinsurance
The underinsurance gap in Australia is steadily widening thanks to current inflationary pressures; it's an issue we're urging brokers to remain alive to.
“The presence of underinsurance has always been an issue, driven by people either deliberately trying to save money on premiums, or simply not realising the importance of being accurately insured. However, we are now seeing this trend of ‘unconscious’ underinsurance driven by rising replacement values and the increasing cost of construction when rebuilding is required after a loss,” said Stephen Stafford, Executive General Adjuster and Senior Forensic Accountant.