Insurance Age

Insurance industry incompetence wastes money

Insurance industry incompetence is wasting tens of millions of pounds a year in unnecessary litigation, according to one UK firm. Stephen Hartigan, director of JTW Reinsurance Consultants, said: "The frequent failure to observe due diligence by insurers, reinsurers and brokers before they enter into major contracts is the main cause of the problem. A logical, step-by-step approach to better deal-making, which helps all parties avoid costly litigation, will give policyholders lower premiums

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