Brokers fighting harder to get claims paid, says Biba
Brokers have to fight harder to get claims paid during the economic downturn due to stricter policy interpretations and anti fraud-systems by insurers, according to the British Insurance Brokers' Association (Biba).
Of the broker respondents, 67% said that they had to get tough with insurers on behalf of customers to get claims paid in the current economic climate and 93% regularly negotiate up to a 20% uplift on claims settlements.
Biba said the situation has deteriorated since last year; with almost a 10% increase in brokers who said they had to fight harder for customer’s payouts.
Eric Galbraith, Biba chief executive, said: “This is strong evidence to demonstrate the value of the broker and we plan to
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