Travel insurers fall out over cash-for-comments
Travel insurer SureSave has reported rival Cover-More to the Australian Securities and Investment Commission (ASIC) for misconduct.
In a media statement, SureSave, through its PR company, said: "Recent communications issued by Cover-More to travel agents made a range of assertions about SureSave’s product that were factually incorrect and fundamentally misleading."
Michael McAuliffe, executive director at SureSave, said: "Taking this action against a competitor is a last resort and is not something that we, as a company, take lightly.
"But this is not the first time Cover-More has engaged in questionable conduct.
"Just recently, Cover-More offered customers the opportunity to earn cash rewards for lodging reviews on a product review website about positive experiences they had in dealing with Cover-More.
"We don’t believe this behaviour is consistent with the conduct expected of our industry. It’s no different to radio announcers accepting cash for comments," he added.
McAuliffe said Cover-More had been provided every opportunity to rectify the position "but have been unwilling to publicly correct their statements".
"SureSave takes these matters seriously. Our brand is trusted throughout the industry and we need to protect that reputation," McAuliffe added.
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