C4 Dispatches:: insurance industry – profit before people


The insurance industry, consistently, dispels the myth of “honour amongst thieves”. In this programme we see it through the lens of motor insurance BUT bad practice doesn’t stop there.

If you didn’t watch the programme…you should! Follow the link embedded in this picture (may only work in UK – sorry!).

motor ins ripoff

For the sake of clarity, you may, also, wish to consider the definition of the word that the Office of Fair Trading used to describe the motor insurance industry: DYSFUNCTIONAL Read more of this post

Loss assessor jailed:: a rare but welcome move


If this were a sign of things to come, I suspect that there would be many within the ‘Claims Management’ industry who would be quaking in their boots! It has given me a novel idea for a new business though. How about I set up an operation that, for a nominal fee, properly reviews settled losses and takes a percentage where amounts above a certain threshold where internal fraud has been perpetrated!

I know exactly the type of claims and organisations I would start with because they aren’t all out of business and many of the ‘professionals’ who have knowingly or unwittingly played their part are easily recognised.

Still, grateful for small victories like these and the ongoing efforts of IFB…onward and upward!

A recent article regarding the failure of Merlin and some dubious industry practices has attracted an incredible amount of interest and comment. It led to an interview that appeared in the insurance press [Post Magazine].

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