Moody's: Axa's referral fee stance could benefit the sector

Concept image of UK coins falling down a plug hole

A report from the company advised that: “The incremental legal fees paid by insurers as a result of this process (known as “claims farming”) more than outweigh the referral-fee income that insurers receive when they refer claims to lawyers.

“Therefore, any reduction in the use of claims farming is credit positive for the sector. Axa UK’s announcement builds on the reforms announced last year in the Jackson review and the increasing political awareness of claims farming and its impact on

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: