Zurich offers flood cover to commercial clients
Zurich Financial Services is to offer automatic flood cover to its commercial customers, claiming to be the first insurer in Australia to do so.
The cover, which is the result of a commitment made last year, will be available to new customers from September 8 and to existing customers on renewal.
Its introduction comes after a year of development by Zurich to “ensure we were able to provide affordable flood cover automatically to our commercial customers”, according to chief executive David Smith.
“Providing adequate flood isn’t easy,” Smith said. “If it was, the industry would not have so many issues with implementing it.”
However, Zurich “simply believes it is the right thing to do to make flood cover automatically included in the cover in the base wording for commercial customers”, he said.
The industry’s “challenge is to move beyond traditional disaster relief and help the community and individuals recover from the affects of climate change,” he added.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
