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Our Financial Hardship Policy can help you access support and services when you need them the most. From the General Insurance Code of Conduct. We are not required to display this though suggested by the NIBA Code of Practice (for brokers) Compliance Committee. This is a service offered by insurers not brokers.
Information in this section provides an overview of the financial hardship provisions in the Code. It is recommended that anyone seeking financial hardship assistance reviews the Financial Hardship section in the Code (Section 8) for full details.
We understand situations can sometimes arise that make it difficult to meet all of your financial commitments. If you feel you are facing financial hardship, the following process highlights how you can get in touch with us or the insurers to request assistance.
“Financial Hardship” means you are having difficulty meeting your financial obligations to an insurer.
For example, you may owe money to an insurer if you have made a claim and need to pay an excess, or if you caused a car accident while uninsured and the insurer of the other car is seeking payment for the damage for you.
You could be experiencing Financial Hardship because you have lost your job, or you’re suffering from an illness or disability, or you have received some unexpectedly large bills. If you owe money to a general insurer and you are experiencing Financial Hardship, you can ask an insurer to assess whether you are entitled to assistance.
PLEASE NOTE: The Financial Hardship provisions in the Code of Practice do not apply to unpaid general insurance premiums.
If an insurer determines that you are entitled to financial hardship assistance for a debt owed, it will work with you on a payment arrangement, such as extending the due date for payment, paying the amount in instalments, or paying a reduced lump sum.
An insurer can provide you with more information about its Financial Hardship process, including an application form for assistance, and information about its Privacy Policy relating to the use and disclosure of your information.
Contact the insurer to request a Financial Hardship application form, and for details on where to send your application.
Here are free and confidential financial counselling resources that can provide advice to Australians in every state and territory:
As a minimum you need to provide supporting information for your main income (pay slip, Centrelink statement, etc) Depending on the circumstances of your request, we may ask you to provide further information.
The following documents may assist your application if they are relevant to your individual circumstances.
PLEASE NOTE: for privacy reasons, if any of the documents you provide to us contain any government identifiers such as Tax File Number, etc, please blank these out before sending.
Please provide a description of your financial circumstances and your situation with the insurer, and why you are requesting assistance for Financial Hardship.
If you are unable to reach an agreement with an insurer about Financial Hardship assistance, or if you are unhappy with any aspect of the application process, you may make a complaint to the insurer.
The insurer will make available to you information about the complaints process.
More information can also be found at Complaints page.
The Ian Jones Insurance Jones Privacy Policy applies to the operations of Ian Jones Insurance Brokers and explains how we manage your personal information. We safeguard your privacy and the confidentiality of your personal information and are bound by the Australian Privacy Principles which are set out in the Privacy Act 1988 (Cth).