Have You Missed Out Under An Insurance Claim You Made?

Updated March 20th 2020

CIB Private Wealth recently helped a client with an ongoing insurance claim and this resulted in our client receiving additional money from their insurer. Our client had suffered a stroke at the end of 2012, and had received full income protection benefits since that time. In January of 2013, he returned to his business in an extremely reduced capacity, and took a small wage for what work he could complete.

Returning to work in a reduced capacity still meant he was entitled to a benefit payment, but that the insurer would offset that by any income he earned. The insurer calculated monthly benefit payments based on our client’s fluctuating business income. This fluctuating income meant that some months he received no benefit, and while other months.

At year end, the insurer did a full reconciliation of the payments made for the year and came back with a calculation that showed they had underpaid our client by $4,706.

What we did:

We reviewed all the monthly business results and re-did the partial disability calculations based on actual monthly income, and included all the losses. Our calculations came out our client was owed additional amounts of money. We sent our calculations back to the insurer and advised them to review it.


The insurer reviewed the information we provided, and actually deemed our client’s income as nil for the year given. This means our client was actually underpaid $18,304 for the year.

If you would like your current insurance claim reviewed or need help making a claim contact Tanya Hart from CIB Private Wealth on 02 9683 5999.