Sovereign, the country's biggest life insurance company, hit the limelight three months ago when one-legged claimant John "Bo" Fenton took his plight to the media.
The Timaru man lost a leg in December last year but because his policy with Sovereign covered only the loss of two or more limbs, his claim was not paid. A confidential payout from the insurer was made after his appearance on the Fair Go television programme in September.
A few months later, out of the limelight, Sovereign quietly removed the "two limbs" clause from its life products and introduced partial payment for the loss of one limb so had Mr Fenton made his claim today, it would probably have been paid.
This week Sovereign also launched 21 other enhancements to its life cover including landmark "future-proofing'' offerings.
"We take our market-leading position seriously, and we're always looking at ways to improve what we can offer customers,'' said Sovereign marketing and product manager David Drillien.
One enhancement that is the first for New Zealand insurers is the automatic application of future product improvements to TotalCare covers even for those written as early as February 2001.
http://www.stuff.co.nz/business/industries/4327007/Sovereign-enhancements-follow-controversy
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Is it me or does this seem a pretty small thing for a company to retreat on? Normally it takes petitions, marches and a few weeks of media coverage for a company to back down. I’m not familiar with the story so that might have happened, though there is no mention of it, maybe they’re just a decent company...No one’s buyung that are they?
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