Author: Di Robertson

Some of the insurance industry’s leading companies have been ‘found wanting’ by the Supreme Court and are now required to pay claims that they had pleaded were not covered by their various insurance policies. Next comes the vexing task of ‘adjusting’ the losses claimed by the policyholders and already some insurers have asserted ‘their right’ to deduct grants, loans and Furlough monies from indemnity payments. Our latest Covid Bulletin examines the controversial question: Is it Treating Customers Fairly for insurers now to deduct...

Are you in the position of having to make a claim on your travel insurance due to COVID-19? You’ve probably never had to really think about your travel insurance before, you generally pay a small premium just in case something goes wrong, but you would never normally expect to make a claim.  You might be surprised to know that a travel insurance policy is one of the most complicated policies in existence. The term small print might as well have...

February 2021 Our strong belief is that there are still many challenges to be made and overcome. “The Supreme Court has ‘come good’ and now its my right to get my money.” These emotionally charged words, uttered by a broker’s customer, perhaps best describe the sentiment amongst many SMEs. Sadly, even now, many of them will be disappointed that their particular claim does still not meet the cover threshold; for reasons that will be beyond their comprehension. Will it become necessary to fight yet another...

Flaxman and Branko - FCA BI Test Case – Supreme Court Appeal – what it REALLY means! 2:00pm on Wednesday 24 February 2021 This comprehensive and interactive TWO hour masterclass will focus on the judgment of the Supreme Court following the appeal of the FCA’s ground-breaking test case at the High Court and seek to clarify what the judgment really does mean for brokers and their clients. Whilst the appeal judgment is very clear and insurers have lost (their arguments were found to...

More Haste, Less Speed According to the Cambridge Online Dictionary the above phrase means if you try and do things quickly it will take you longer in the end. So, in essence if you do not do your due diligence or pay attention to detail when making an insurance claim you could end up making mistakes that were avoidable and, in the end, spend more time completing the task to a satisfactory level. This phrase could be used for most tasks that...

The pain and suffering is not over yet and does not address the remedy from its decision.    More than 370,000 thousand UK businesses have suffered unnecessarily at the hands of the UK insurance industry but more suffering is soon to come.  The spectacular common sense of the Supreme Court’s judgment on the FCA initiative to challenge the industry’s integrity towards its business ‘customers’ has paid off but at what cost and what is going to be the ‘payback’ by the industry?   “The insurers...

We may be in the deepest darkest months of winter and facing the prospect of who knows how many more weeks in national lockdown, but let’s look on the bright side, this is the third time round, three different vaccines are on the way and as a nation we know now what we should be doing to protect ourselves. The number three is looking good for us here at Flaxmans too. During the last year our Advocates have been working tirelessly...

“To Err is Human, To Forgive, Devine” Alexander Pope You are human and like every other human being on the planet you are likely to make a mistake or two and although your friends, family and even boss will probably forgive you for those mistakes it is unlikely that an insurance company will do the same. So, here is a guide to help you avoid making mistakes when buying insurance. https://youtu.be/BgbzYMxZ1qc Number 1: Not using a Broker or Agent With endless information at our finger tips...

But does it matter? Many brokers will be feeling vulnerable in the light of recent insurance press reports quoting the criticisms of brokers emanating once again from Mactavish.  In a strive for growth, there might be a temptation for some brokers to start piling them high and selling them cheap.  That really wouldn’t do.  Now, more than any time in the past, the broker needs a steely resolve to stick to traditional, professional methods – and never lose sight of the client’s...

The following is based on a recent case that the Flaxmans team handled highlighting the risks involved when a leaseholder hands over the security of its investment in the lease to third parties over which it has no control.  PHOENIX is a property owner. In January 2019 Phoenix purchased the freehold of twelve flats.  The leaseholder arrangements were not without complication. The chain was: The freeholder is the XYZ Property Group as evidenced by a head lease The freeholder has granted a...