Axa ready for referrals ‘hurt’
Axa UK’s decision to stop accepting referral fees will “hurt” it in the short term and lose it several millions of pounds in income, but it is looking to the “longer-term prize” of getting bodily injury claims under control, according to personal lines chief executive Steve Hardy.
The insurer announced on Tuesday that it will no longer accept referral fees from personal injury lawyers.
"The argument I am hearing is that insurers use these referral fees to mitigate our costs,"
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