Earlier this month we were asked by Insurance Business magazine for our thoughts on delegated claims authority.

This is where a broker is able to approve small claims themselves, rather than having to wait for approval from the insurance companies.

If implemented, this should lead to faster payments to tradies who have had their tools stolen.

Here are our thoughts, as published in the magazine:

Text:

“It would only work for a very limited range of claim types, but it could work very well.

At Trade Risk our most common claim is for a tradesperson’s tools.

We can easily show proof of ownership as well as quotes for replacement of tools, and obtain the police report confirming there has been forced entry.

In this case there is virtually no grey area, and with most being worth only a few thousand dollars there is no reason why we shouldn’t be able to quickly settle these claims using our own expertise.

In my opinion, if an insurer doesn’t trust a broker to settle a very basic claim, they shouldn’t trust them to write the policy in the first place.”

Here at Trade Risk we aren’t just about selling insurance. We’re about protecting tradies and making their life easier.

We want to make sure that when you have your tools stolen we can have them replaced as quickly and painlessly as possible.

We know you rely on your tools to make a living, and that’s why we’re always pushing to improve the claim settlement process for our clients.

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In 2017 Trade Risk was awarded a Gold Trusted Service Award for the amazing service we offer to thousands of tradies from around Australia.

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