Markerstudy Toba “totally unacceptable”
The British Insurance Brokers’ Association (Biba) has slammed the one hour reporting requirement of an accident claim in Markerstudy’s new terms of business agreement (Toba) as totally unacceptable.
The Toba, released in August, states that brokers must notify the insurer within one hour of being made aware of a claim by a policyholder or third party. The Toba also says that the insurer has the right to cancel its agreement with brokers without notice should they fail to do so.
Steve Foulsham, technical services manager at Biba, told Insurance Age: "Whether you call it unworkable, totally outrageous or whatever term you use, it is not in the spirit of the agreement with the broker to have a
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