Biba launches underinsurance guide
The British Insurance Brokers’ Association has launched a guide to support brokers in helping their customers avoid the risks associated with being underinsured.
The new guidance was created in partnership with Allianz.
According to the trade body underinsurance remains a persistent and widespread problem. It cited estimates from the Chartered Institute of Loss Adjusters showing underinsurance to be present on over 40% of claims and the degree of underinsurance to be around 35 to 45%.
Biba committed in its 2022 manifesto to highlight the dangers of underinsurance and has launched the guide at its annual conference in Manchester.
The association had
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