Financial Hardship Policy

We appreciate there are times when circumstances beyond your control can make it difficult to meet all your financial commitments. We are committed to supporting any clients experiencing Financial Hardship. Our Financial Hardship Policy can assist you in accessing support and appropriate services when you need them most.

Under the General Insurance Code of Practice (2020), you are entitled to support if you are experiencing Financial Hardship. This can apply if you are:

1. an individual Insured or a Third Party Beneficiary who owes the insurer money — including an excess — under an insurance policy they have issued; or
2. an individual and the insurer is seeking to recover money from you because the insurer believes you caused damage or loss to either an Insured or a Third Party Beneficiary who the insurer covers under an insurance policy.

(Please note that the support that the insurer must provide does not include support for paying the premiums under an insurance policy they have issued).

You also have a right to ask the insurer to fast-track a claim if you have an urgent financial need.

If you believe you are affected by Financial Hardship, please let us know and we will arrange for your insurer to urgently contact you to discuss your situation and options.  Alternatively, our insurer partners have information on Financial Hardship on their websites which are easily accessible.

For free, confidential and independent financial advice, the National Debt Helpline can be contacted on 1800 007 007.

To find out more about the financial hardship provisions please refer to: 2020 General Insurance Code of Practice.