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Brightside’s Brendan McCafferty on why the insurance industry needs to get real on its social contract

brendan-mccafferty

The insurance industry needs to find the right answers quickly if it is going to rebuild its reputation with the public, particularly after the recent business interruption court case and dual pricing headlines, says Brightside CEO Brendan McCafferty.

Two big insurance news stories have been on both the front and business pages of the media in recent weeks.

Firstly, on 15 September the High Court ruled on the FCA’s test cases for business

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Storm damage claims test insurers’ settlement choices

A year of severe storms has strained repair networks and claims operations, which Ben Blain, head of property at Verisk Claims, points out has placed insurers’ settlement decisions, data oversight and ability to evidence fair customer outcomes firmly under the regulatory spotlight.

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