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Referral Fees: AXA Jump Off the Band Wagon

It is great to see these masters of spin at work isn't it?

First the ABI denied it - then they had to come clean and admit that insurance companies were selling car accident insurance leads. The  justification: If we didn't do it then Claims Management Companies would do it so we may as well make the money.

Well rubbish. AXA have been found out and have tried to head off a PR disaster for themselves by suddenly becoming the good guys - 'We will no longer charge lawyers referral fees'.

Now what does this mean? Will they no longer encourage their insured to claim personal injury? Will they still encourage them but pass the leads through for free? Will they ask for something in return from the firms receiving the cases - I don't know but maybe they will have to do some uninsured loss recovery for free? You see there is more than one way to skin a cat so AXA may suddenly have seen the error of their ways but I am sceptical that there won't be some sort of balancing of the books going on.

I know - why don't AXA (and all other insurers come to that) publish their referral arrangements for us all to scrutinise?

They won't of course. Is it all a conspiracy? Have the insurers deliberately driven up claim numbers so they can cry fowl to the Government who, let's face it, have fallen for it hook, line and sinker.

I think an investigation is called for.

Less of the Shane Warne and more Bob Willis please AXA.

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