Unauthorised Claims Handlers Approach Flood Victims

by Gill Montia

Story link: Unauthorised Claims Handlers Approach Flood Victims

The Financial Services Authority (FSA) has issued a warning to those affected by the recent floods and is urging them exercise caution if approached by people offering help with insurance claims.

The FSA has pointed out that anyone, such as a loss adjuster, charging for a service in connection with an insurance claim must be regulated by the FSA, or be a member of an exempt profession.

Both legal firms and insurance companies have been in contact with the regulator expressing concerns because of a number of reports regarding claims handlers touting for business improperly, and offering to negotiate with insurers.

Some claims handlers have been approaching flood victims direct and advertisements have also appeared in local newspapers but the FSA’s investigations have concluded that those involved are not authorised to carry out such work.

The FSA’s advice is that people needing to claim on buildings and contents insurance should simply deal directly with their insurer.