Why our Industry gets a Bad Name.


This article was passed to me and covers how the insurance industry is featured in the press following the cancellation of a flight, due to a fire on board the inbound aircraft. It is worth a read and will not take long. To do so click here.

While this is an article from the United Kingdom, I am sure that if the same thing happened in our part of the world the same sort of thing would occur.

As I have repeatedly said, while the public focus on price when they go to purchase insurance, reinforced by so many advertisements on insurance stressing it is all about price, the quality of the coverage and the claims service are so very important.

I think the ones that get to me the most is when the same insurer takes a different approach to the same claim. We saw this so often in the Christchurch earthquake claims.

It is for this reason that I developed and launched LMI ClaimsComparison.com. Next month when the 30th June silly season is over, I will be sending out a survey to see how brokers rate the various insurers in all the product classes compared in LMI PolicyComparison.com  I am really looking forward to seeing the results and sharing them.

Thanks to Adam Matteson from Arch Underwriting at Lloyd’s for sharing.

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