Brokers’
Insurance Monthly
July/August 2010 VOLUME 66 > No.6
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Celebrating 60 years
‘ ’ COMMENT / CONTENTS 3 Comment
It seems the word of the moment is ‘professionalism’ - and brokers, along with the whole insurance industry, are being encouraged to raise their game.
Indeed, as Roger Flaxman suggests in his article in this issue there is room to improve standards across the board. However, he believes that there needs to be far more than words and there is an urgent need to tackle complex language and to provide a far better claims service.
Beyond this, more needs to be done to educate the public and to move away from the constant emphasis on lowest cost. Most people are prepared to pay more for quality, but this message has failed reach the majority of insurance buyers.
It would appear however, that things are moving in the right direction. The CII’s Aldermanbury Declaration has been widely applauded, and this sets out principles aligned to higher standards, with a call for fi rms to stand up and be counted by signing up.
And, certainly it would seem there is scope for more brokers to apply for chartered status. According to the CII, only around 60 brokerages have so far achieved this, so clearly more could benefi t what is described as a valuable distinction. With the reputation of fi nancial services as a whole leaving much to be desired, now there is an opportunity for brokers and insurers to be seen as the ethical advisers and providers that are undoubtedly needed.
Editor
4 Brokertalk News and views from around the broker marketplace
10 Interview Barbara Bradshaw, chief executive of the Institute of Insurance Brokers, discusses the forthcoming regulatory landscape
MARKET REPORT - FOCUS ON MID NET WORTH
12 Opportunities The mid net worth sector offers brokers huge potential - and reinforces the message that home insurance should not simply be about the lowest price
14 Profi le
Barry O’Neill of Home & Legacy explains why his company provides brokers with the fl exibility and choice of a panel of insurers
15 Opinion
The mis-selling of payment protection insurance has led to an unfair burden for brokers in terms of their FSCS levy, says Andrew Welch, partner with Stephensons Solicitors
16 Professionalism Roger Flaxman believes that more needs to done to achieve professionalism across the industry
20 Regulation
No matter how good the relationship with the client is, there can be no substitute for formal documentation and accurate record-keeping
30 What’s New? New launches, updates and information from the insurance world, plus information on the latest trade association activities
34 Comings & Goings Find out who’s on the move
July/August 2010 Insurance Brokers’ Monthly
John Sadler Editor
Contents
John Sadler
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