Insurance Review Underway
31 July 2006
Tasplan Super has commissioned a comprehensive review of the insurance services it is currently providing to its 100,000 members.
The review will address all types of insurance cover provided by the fund including death and TPD and salary continuance.
Announcing the Review, General Manager, Neil Cassidy, said that every aspect of insurance was on the table and would be examined.
"We are looking to achieve a Best Practice approach to insurance and therefore the Review will need to address eligibility, benefits, premium and coverage." Cassidy said.
"Mergers with two NSW Super schemes in 2003 led to us 'inheriting' the existing insurance arrangements of those funds; this has tended to make our insurance a bit more complicated than it needs to be."
"We're looking for an outcome that will add value to our already attractive insurance products, and help to simplify and streamline current insurance arrangements."
Once again Tasplan will be using Consultants Rice Walker to assist with an insurance tender that has been forwarded to 9 different insurance providers.
Cassidy said the Review would probably take around three months to complete and that new insurance arrangements would be announced prior to the end of the year.
|