Asgard flags hefty insurance premium rises | Australian Markets
Westpac-owned investment platform Asgard has moved with insurer AIA Australia to increase insurance premium charges from between 0.7% to 94.6%.
In an e-mail to financial advisers, Asgard stated that along side AIA Australia it had reviewed its insurance offering and that, as a end result, premium charges for purchasers’ Asgard Personal Protection Package insurance policies would change “with an increase in premium charges for many varieties of insurance cowl attributable to an increase in prices, together with claims.
“The change to premium rates means we can continue to provide a valued and sustainable insurance product into the future so that investors can access benefits in the event of a claim,” the e-mail to advisers stated.
The e-mail supplied the next desk detailing the modifications.
It stated the new premiums would change into efficient from 1 July and stated that Asgard can be sending purchasers a discover to help them perceive the modifications and what they imply.
“The notice also provides options to manage their premiums,” it stated.
The e-mail stated Asgard can be contacting purchasers from 21 May to allow them to know that from 1 July, 2025, insurance premium charges will change.
It sid the new premium charges can be efficient from 1 July and can be utilized to every investor from their subsequent premium due date thereafter.
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