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Tuesday 17th of July 2018
December 4, 2007

BIBA Announce Expansion Of Lorega Ties

by Stewart Douglas

Story link: BIBA Announce Expansion Of Lorega Ties

BIBA Announce Expansion Of Lorega Ties

Leading broker institute BIBA has today unveiled a three year extension of its ties with claims services advocate group Lorega, in a move that will see the company provide loss recovery insurance for BIBA, with the a view to reaching out to its member brokers after a previous successful track record in partnership.

The British Insurance Brokers Association, the professional group representing the majority of British insurance brokers has entered the agreement on behalf of its member organisations, as recognition of the ongoing positive relationship between the two entities until this point.

The news will see the arrangement by which Lorega provides claims advocacy services and insurance products directly to BIBA members tied up for a further three years, expiring in 2010 with an option for further renewal thereafter.

The relaunch has seen the Lorega service given a facelift, providing flat rates depending on the newly defined premium value brackets, up to over £40,000 with a view to satisfying the needs of some of BIBA’s larger members in this regard.

Speaking today on the renewal, Lorega boss John Sims said that the agreement with BIBA would help its members remain a step ahead when dealing with claims on policies they have sold, and that the renewal terms would help modernise service provision to the BIBA membership with a view to enhancing value across the board.

Likewise Eirc Galbraith of BIBA suggested that the set-up at Lorega was in line with the ethos it shares with the FSA under the flagship Treating Customers Fairly manifesto, and that the BIBA membership would now be able to continue to benefit from the services provided directly by the team at Lorega.

 

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