Date: May 2011

The Issue

A recent survey * undertaken by BIBA found that:

67% of brokers said they had to fight harder on behalf of their clients to get claims paid during a recession. 93% of brokers regularly negotiate uplifts in claims settlements.

Fraud becomes a major issue in a recession and is often cited as a reason for insurers increasing their vigilance and spending more time on not only validating a claim but also looking more closely into the quantum. However, as Eric Galbraith, the BIBA Chief Executive suggests, the findings of their survey would seem to show a too frequent reduction in the amount offered in claims settlements.

The trend toward reduced settlement offers impact on insurers reputations. Brokers have to work hard, spending a lot of time negotiating with insurers' or their adjusters, on behalf of their clients. When it comes to complex claims the time expended can increase exponentially, often requiring the appointment of, and liaison with an array of professionals, such as accountants and surveyors.

We Can Help

Everyday we help brokers negotiate fair and accurate claims settlements for their clients. We can call on directly employed professionals with the skills needed to deliver fast, efficient and accurately negotiated claims settlements. By appointing us brokers get to spend more time developing more profitable areas of their client relationships and their customers get peace of mind and are able to concentrate on getting their lives and businesses back together.