All the things the insurance industry should promise in 2009
This year the insurance industry promises to:
- Underwrite for profit in all lines of business – no loss leaders
- Pay claims promptly
- Stop using small print to disguise what is and is not covered
- Tackle fraud without treating all claimants like fraudsters
- Not go to the ombudsman on 50/50 cases
- Pay suppliers and partners sustainable rates and promptly
- Disclose commission promptly and with pride
- Recommend the most appropriate policy and insurer regardless of commission paid
- Charge a fee, like other professionals, rather than commission
- Provide like-for-like replacement vehicles to kill the credit hire industry
- Scrap the ABI flood agreement and charge the full rate or refuse cover to at-risk properties
- Tackle excessive no win no fee lawyers’ bills
- Refuse referral fees
Come the second of January, forget all these resolutions - just like every year.
