Author: Eleanor

Is the Complaint Process impartial – or is it a case of Marking your own Homework? It was once accepted wisdom that the British were too polite to complain when things go wrong.  In some ways that is still true, but not when it comes to financial services.  The current regime had its beginnings in 1981 when the insurance fraternity was the first industry to introduce its own ombudsman scheme. An arrangement that started out as a facility for policyholders to use...

It seems that more and more people are foregoing the turkey and instead packing their bags on Christmas Day with an estimated 6.5 million journeys being made throughout the UK; many of them heading straight for the airports and a welcome time in the sun or on snow-covered slopes. Top Five Travel traps The term Small Print might as well have been coined just for travel insurance because you might be surprised to know that a travel insurance policy is one of...

… yet as the following recent case demonstrates it is up to us all, in the insurance industry, to do what we can to explain the complex words we sometimes use. The matter of a visual heat detection system A recent case involved Top Waste Management (TWM) – we have changed the name for the purposes of this case study. Top Waste Management suffered a serious fire at its premises in January 2022.  The business included the short-term storage of waste, pending recycling. ...

A recent case involved Top Waste Management (TWM) – we have changed the name for the purposes of this case study. Top Waste Management  suffered a serious fire at its premises in January 2022.  The business included the short-term storage of waste, pending recycling.  Some of the waste stockpiles were located inside the Insured’s building; other stockpiles were stored outside, especially for piles of green waste with their potential for internal combustion. On this occasion, fire had broken out in one of...

And now despite some parts of the country enjoying an Indian Summer, we have seen already the first of the big storms - Agnes (who comes up with these names?!) which tore through great swathes of the country and once again we will see repair and business interruption claims on the rise. Another busy Summer or Flaxmans Here at Flaxmans throughout the summer months we have been busy as usual dealing with those difficult, complex and impossible claims that come our way;...

All about 'Circumstances' Possibly, the most vexing question in the entire scope of liability insurance is what is the definition of a notifiable ‘Circumstance’? “Great webinar as usual with the guys from Flaxmans.” “The whole series has been very thorough and interesting.” “Great practical webinar, clearly laid out and good examples.” “This was amazing. Really enjoyed every one.” “Great session great topic, great presenters.” Well, our three-part CII webinar series on Claims Made Policies has clearly gone down a storm!  Our last in the series had left...

Notification of ‘claims’ and ‘circumstances’ This is the second of three exciting and in-depth looks at the vexing subject of Claims Made policies.  Whilst insurers want to know of a potential claim (circumstance) at the earliest possible moment in time the typical Insured is reluctant even to admit they have a problem, let alone tell anyone.  Therein lies the principal ‘elephant trap’ for the Insured; and very often too, the well intentioned broker. This, the second webinar, took a close look at...

An in-depth look at an often-confusing subject For well over 50 years, Claims Made policies have caused insurance practitioners and their clients much frustration, confusion and disappointment. Despite several attempts in more recent years to abolish the Claims Made policy in favour of the losses occurring basis, the Claims Made policy is alive and well and unlikely to disappear from the insurance scene for the foreseeable future. Therefore, it is essential for anyone selling a policy or dealing with a claim on...

What could be easier than the renewal of an existing insurance policy?  Whether you are an insurer or a broker, all the hard work is put in at inception.  If the insurance needs have been fully assessed when dealing with new business, all you need to do at renewal is make sure the rating is right and, for the broker, you just need to check the price is still competitive.  Job done. Easy. But that’s the problem.  The apparent ease of...

The Insured was in the business of producing and supplying office stationery.  There was a significant fire in its paper store and a claim was made under the commercial combined policy. The policy covered four locations within a 20 mile radius of the main property.  However, the location of the discrete paper store had never been specified on the policy and so liability for the claim was rejected by the insurer. We investigated the matter and had to agree that the separate...