Published 08 Mar 2016
Our client is a former Psychologist from Newcastle, running his own practice. As he was running his own business he had taken a standalone insurance policy for Income Protection under the advice of his financial advisor. This was to ensure his financial security should he become unable to work.
Our client was embroiled in a series of malpractice suits and was subsequently lost his licence to practice as a Psychologist. He was diagnosed with Major Depression, which was identified to have been a possible cause of his improper conduct and malpractice. Despite having undergone significant treatment, our client had not recovered sufficiently to return to work.
Consequently, as he has not received income in two years, our client found himself in poor financial straits and he attempted to make a claim upon his Income policy but was rebuffed by his insurer as they alleged that he was not unable to work because of his illness, but rather his loss of licence.
While the medical evidence, especially the treating evidence did not support this allegation, the insurer nonetheless attempted to create doubt of our client’s version of events.
Our client approached Gerard Malouf & Partners for advice in relation to Income Policy claim. Our solicitors, upon receiving instructions, acted quickly and commenced proceedings at Court.
Our solicitors focused on the terms of the policy which entitles a person to claim on Income Policy exclusively should an injury cause our client to lose income, and that should be notwithstanding the loss of licence as it was not fleshed out in the contract. It was argued by us that the failure to identify such issues falls on the insurer and they therefore should pay nonetheless.
The insurer quickly offered to negotiate settlement of the claim, and subsequently paid half of million dollars which represented a generous benefit, as our client was nearing retirement age. Our client was greatly relieved at the result as he was also very aware of the risks. This outcome was able to provide him with significant financial relief and finality to his claim in under twelve (12) months. He is greatly happy with the services of Gerard Malouf & Partners.
If you are experiencing difficulty in your Income Protection insurance claim please contact Gerard Malouf & Partners. At our firm, our lawyers have expertise that in income protection who will be happy to assist you in your insurance claim. Please allow Gerard Malouf & Partners to assist you to achieve an outcome in your claim.