BROKERS’ MONTHLY 19
emphasis should be placed on
“Insurers’
assistance to help them understand
insurance professionals being able
understanding of TCF
the cover and how best to achieve
to explain coverage benefits and a satisfactory settlement.
issues in plain language, without
is to appoint experts –
Insurers’ response? “Of
resorting to jargon, either because
some allegedly
course you can have advice - if
they do so unwittingly, or are you pay for it yourself.” Fees for
unable to understand our impartial, others solely accountants and surveyors are
products’ purpose and
to protect their
generally covered in respect of the
contribution to real life. practical aspects of data gathering.
interests” However, any technical insurance
espite all of our best
advice or assistance has to be paid
D
intentions, we are very
Reports are compiled, advice
for by the client.
often faced with issues
is taken and opinions are formed,
This moves from utmost good
arising only when a claim is
all of which are transmitted back
faith to stacking the odds against
made. At this point the client
to insurers on a strictly
the client, or at least, reducing the
looks for guidance to negotiate an
confidential basis, as they
level of indemnity, as monies are
indemnity, or agree reasonable
appointed the experts and they are
used to pay for claims support. If
mitigation measures, confident in
not for the benefit or
insurers need such advice and
the knowledge that the policy will
consideration of the insured.
expertise, how come it is not seen
respond as intended – and cover
Even loss adjusters, who are
as necessary for the client?
the loss.
firmly wedded to the principle of
At this point, the seesaw
impartiality are still in the pay of
mpartiality does not work.
starts to tip away from the
the insurer, although perversely,
policyholder. Insurers’
their cost is counted as part of the
I
Neither does an adversarial
approach, as sometimes
understanding of treating the
total expenditure when reviewing
adopted by some professional
customer fairly is to appoint a
claims costs at renewal.
claims negotiators. Equally
raft of “experts” - some allegedly
Faced with such a bank of
balanced technical support for
impartial, others solely to protect
insurance company advisers,
each side is the viable solution if
the client is to be treated fairly,
insurers’ interests.
clients often ask for their own
but this should not be at the
client’s expense.
In many European countries
and in various other parts of the
world, this situation is recognised
and policyholder assistance is
provided as part of the basic
cover, with experts of equal status
working together as part of a
team, with the sole purpose of
settling the claim fairly, promptly
and within the term and
conditions of the policy.
This is offered as part of the
standard cover and is accepted by
all as an equitable method of
ensuring fair settlements. Fees are
kept in check by peer
benchmarking and by the
availability of higher volumes of
work for both areas of
representation. Professionalism is
maintained as all parties have
duties to their relative principals,
and documents are disclosed.
If we are to move our valued
industry on to truly embrace
consumer support, we need to be
open to positive change to help
our customers enjoy total
fulfilment of the benefits of the
cover they have purchased. IBM
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