Professional Indemnity FAQ

Continuous Cover Extensions - When do they apply?

What is "continuous cover"? When do we offer this?

Many insurers are under the impression that this is some sort of loyalty bonus. Well this is not really true. There is however an advantage to stay with the current insurer and that is due to the situation of a known circumstance.

It means that if someone who was insured with us in unbroken successive periods notifies a claim circumstance in the subsequent period which should have been notified in the earlier period, then that claim will be covered under the latter policy but there remains conjecture amongst many insurers. Is it subject to the lesser limit of the two applicable policies. Or is it the policy that it should have been reported in? Issues of 'non-disclosure' and 'known circumstances' exclusions will not be raised simply because an insured does not need to disclose matters that ought to be of common knowledge, however prejudice due to delayed notification may be taken into account in the adjustment of the claim.

Then we have the added situation of having clauses found in the some wordings saying that if in the third year the insured then goes to a different insurer, that allowance for the known circumstance will be void. This applies even if the insurer decides to decline to offer renewal. There is some legislation that may be tested on this. There are also some insurers now giving continuous cover if the insured was with a different insurer the year before. A brilliant marketing move.

Latest News

Three Years running - Insurance Brokerage of the Year 1 to 5 staff

Mandy and Robert Cooper were extremely honoured and astounded to once again win, Insurance Brokerage of the Year for 2020 from Insurance Business Australia magazine. This is the third year running.

While this year has not been the easiest of years for the business with Covid 19, the Recession, the hard market and issues at Lloyds of London, we are literally all in this together as an Insurance Industry.

CPR Insurance Services continues to make our clients the number one focus of our business while managing our relationships with Insurers, who we need more than ever in this market climate.

CPR Insurance Services are a highly ethical Brokerage with a reputation as a trusted advisor who always acts in the Client's best interests. Their experience, knowledge and expertise is amongst the highest in the industry.

CPR Insurance Services is now ten years old as a business and is proud of being an Authorised Representative of Ausure and their partnership with Steadfast, giving CPR the strength and backing to match it with any Broking firm in the Insurance Industry, but remain focussed on supporting the Small to Medium business segment.

Memberships of the National Insurance Brokers Association, Australia and New Zealand Institute of Insurance and Finance, Australian Insurance Law Association, Australian Professional Indemnity Group and the Australian Institute of Company Directors, ensures CPR Insurance Services maintains the high standard of knowledge and expertise required to be one of the best Brokerages in Australia.

CPR Insurance Services also plays a strong role in their local community supporting other Sporting Clubs and Community organisations. They also support and promote local businesses with their operation of the Kedron Brook Business Group who meet regularly and has 174 members.

We are truly honoured to receive this National award once again for the third year as a recognition of CPR Insurance Services contribution.

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Finalist for QLD Broker of the Year

Robert Cooper was honoured to be nominated as a finalist for Queensland Insurance Broker of the year for 2020, as part of the National Insurance Brokers Association. Unfortunately he missed out on the ultimate award but is a reflection of the high standard that the industry now has for such awards.

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