Brokers fighting harder to get claims paid, says 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 use this in every way that we can to promote brokers to wider world.

“I also recognise that with fraud being a major issue, there is a need for insurers to validate claims. However, these statistics seem to suggest a too frequent reduction in the amount offered in claims settlements.”