Ambulance chasers will not up costs
Financial Ombudsman Service principal Tony Boorman has scotched broker fears that 'ambulance chasers...
Financial Ombudsman Service principal Tony Boorman has scotched broker fears that 'ambulance chasers' will push up membership fees and see them forced to settle claims they would normally defend.
He admitted that, in the endowment sector, the FOS had problems with firms offering to handle cases for policyholders and then take a proportion of any reward, however, he did not envisage the same problem happening in the general insurance market.
He said brokers need not worry about being targeted: "If
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