Economic downturn leads to claim payout battle for brokers
The Association of British Insurers (ABI) has hit back at claims that brokers have had to fight harder to secure payouts for their clients during the recession.
According to research from the British Insurance Brokers' Association (Biba), 67% of brokers had to get tough with insurers to get claims paid in the current economic climate due to stricter policy interpretations and anti-fraud systems - a 10% increase on last year. In addition, 93% of intermediaries said they regularly negotiated up to a 20% uplift on claims settlements.
In response, a spokesman for the ABI said: "While insurers are looking to reduce fraud (to protect their honest customers -
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