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PSC Griffiths Goodall Insurance Brokers

Insurance, Australia, New South Wales, Sydney

PSC Griffiths Goodall Insurance Brokers offers comprehensive insurance solutions with personalized service, ensuring peace of mind for individuals and businesses.

About PSC Griffiths Goodall Insurance Brokers

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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.ggib.com.au
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FAQs – PSC Griffiths Goodall Insurance Brokers

What is the role of a public adjuster in claim adjustment?

A public adjuster represents the policyholder, not the insurer. They assess damages, gather documentation, and negotiate with the insurer to secure a fair settlement, especially in large or complex claims.


Can insurance brokers work with multiple insurance companies?

Yes, insurance brokers typically work with multiple insurers, allowing them to offer clients a broader range of coverage options and better compare rates.


Do I still pay coinsurance after meeting my out-of-pocket maximum?

No, once you have reached your out-of-pocket maximum, your insurance plan covers 100% of covered healthcare costs for the remainder of the policy year. You will no longer be responsible for copays, coinsurance, or deductibles.


Does earthquake insurance cover land movement and sinkholes?

Earthquake insurance typically covers damage from seismic activity but may exclude sinkholes, landslides, and soil movement unless directly caused by an earthquake. Additional coverage may be needed for these risks.


Why do insurance companies maintain reserves?

Reserves ensure insurers have enough funds to cover future claims, protect against financial instability, and comply with regulatory requirements set by insurance authorities.


What happens if the reinsurer declines to accept facultative reinsurance?

If the reinsurer declines, the ceding insurer must bear the full risk or seek another reinsurer. In some cases, they may choose to adjust the policy terms or coverage limits to reduce exposure and avoid the need for reinsurance.


Who can benefit from parametric insurance?

Governments, businesses, farmers, disaster relief organizations, and individuals exposed to high-impact risks can benefit, particularly in regions vulnerable to climate-related catastrophes.


What do actuaries do in the insurance industry?

Actuaries analyze data, assess risks, calculate premiums, predict future claims, and ensure financial stability for insurance companies.


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