Cunningham Lindsey reveals £5m cost saving
A recent survey, conducted by Cunningham Lindsey venture FraudLine amongst a cross section of 12 of its subscribing local authorities, revealed that on average the number of public liability insurance claims received in 2005 was reduced by 27%, compared to the same period in 2004. With an average PL claim settlement (excluding costs) of £3,000, this decrease represents a potential total saving of almost £5 million.
If you compare this 27% drop to the mooted national claims trend, which is down by 12-15%, the local authorities are clearly benefiting from subscribing to the ‘name and shame’ hotline.
FraudLine
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