Introducing www.theinsuranceact.com

There are some who wish to be popular and are afraid to be controversial or even honest about the possible results of The Insurance Act.

The Act gives insurers more rights not to pay a claim in full, not less, and it is an insurance broker's duty to take reasonable steps to help a client get fair treatment from the insurers they recommend.

At RWA Solutions, we have already been sent copies of internal guidance from insurers to their underwriters which do not fill us with confidence that the spirit of the Act is being adhered to by all.

The RWA message is and always has been, to work with insurers you trust and as part of that process of assessment, knowing how insurers behave in paying claims under the Act is vital.

www.theinsuranceact.com is a free service that I and my colleagues are offering to insurance brokers and their clients to register the details of claims which are not paid in full.

We want to know the rough details of the under offer, geographical and ethical issues, whether smaller insurance brokers and their clients are being treated as fairly as the larger insurance brokers and networks and whether certain trades and professions are more susceptible to an under offer.

We have been running a pilot and already the cases reported are revealing some interesting results.

Also, Roger Franklin and I are offering a helpline for anyone who wants assistance on generic points arising under the Act. Assistance with specific claims will have to be addressed through specific terms of business with Roger and a team of authorised advisers.

Finally, we are also adding a quotation reporting facility which will allow insurance brokers to register quotations by specific insurers which might be needed as evidence in future disputes.

The RWA message is clear. There are insurers you can trust for sure, but we need to gather evidence of those that are plainly unfair or pushing the boundaries of TCF.

It is simple and free and you and your clients and staff can register the details of an under offer without any breach of confidentiality in just three minutes.

www.theinsuranceact.com

At RWA we want to be popular with our clients for looking after their interests.

About the author

 

Robin is the founder of RWA. He is an acknowledged expert on an insurance broker’s duties and Conduct Standards and Risk Management and has been an expert witness to the courts on a number of reported cases, including Environcom v Miles Smith, The Café De Lecq case and Eurokey v Giles.

Robin has written a number of important books on topics such as Training & Competence, The Duty of an Insurance Broker, The Insurance Act and Professional Standards of Insurance Brokers. A regular speaker at industry conference events and Masterclasses, Robin is an engaging presenter who is known for filling a room and providing a challenging and effective delivery. Robin retired from RWA in 2020.

Get UKGI Insight In Your Inbox

Regular business news and commentary delivered direct to your inbox each week. Sign up here