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PNOinsurance

Insurance, Australia, New South Wales, Sydney

PNOinsurance provides comprehensive insurance solutions with personalized service, ensuring peace of mind for individuals and businesses. Our expertise sets us apart.

About PNOinsurance

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
Australia, New South Wales, Sydney
Official Website
http://www.pno.com.au
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FAQs – PNOinsurance

What is the difference between a named insured and an additional insured?

A named insured is explicitly listed in the policy and has full coverage rights. An additional insured is someone added to the policy with limited coverage rights, usually for liability protection. For example, a landlord may be added as an additional insured on a tenant’s renters insurance.


What is the significance of the "policy limit" in an insurance contract?

The policy limit refers to the maximum amount the insurer will pay out for a claim or over the lifetime of the policy. It can apply to a specific type of coverage, such as health, auto, or property insurance. Understanding the policy limit is crucial to ensure that you have adequate coverage to meet potential expenses. Once the limit is reached, you will be responsible for any additional costs.


Can I dispute my claim settlement amount?

Yes, you can dispute a settlement by providing additional evidence, requesting a reassessment, or involving a claims adjuster or attorney.


Can sole traders get Public Liability Insurance?

Yes, sole traders can and should obtain Public Liability Insurance, especially if they work with clients or the public. A single claim for injury or property damage could be financially devastating without adequate coverage.


How do universal life insurance interest rates affect policy growth?

Interest rates impact how quickly the cash value grows. Higher rates lead to faster growth, while lower rates may require higher premiums to maintain the policy.


Can an insurance policy be renewed?

Yes, most insurance policies can be renewed at the end of their term, though premiums and coverage terms may change based on underwriting assessments.


How much does it cost to set up and operate a captive insurance company?

The cost of establishing a captive insurance company varies based on domicile, structure, and regulatory requirements. Initial setup costs typically range from $100,000 to $500,000, with ongoing operational expenses for administration, compliance, and claims management. Companies must assess long-term financial viability before starting a captive.


How do staged accident fraud schemes work?

Fraudsters deliberately cause or fake accidents, involve fake witnesses or injuries, and submit exaggerated claims for vehicle damage and medical expenses.


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