At this year's British Insurance Brokers' Association (Biba) conference, a selection of brokers were asked whether they knew the full costs they incurred in managing their clients' claims. The answer was a resounding "No".
But, why should they? After all, in the current business climate they have difficult issues to tackle, including: dealing with compliance, profitability, controlling costs, and building and retaining business in a highly competitive market.
That said, for any business not to
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