- Thursday, 11 October 2012
We kind of all knew it anyway, but just how much money a large insurance company like the Direct Line Group makes from referral fees still took my breath away. As we reported earlier this week, the group received £110m from solicitors in the three and a half years since January 2009. Call it £30m a year and extrapolate (the group’s market share is 19% of motor and 18% of home insurance) and you are looking at around £150m a year going from the pockets of solicitors to insurance companies for the privilege of receiving cases. And that’s before the £100m or so insurers make every year from credit hire referral fees.
Tags: claims management companies, referr
Posted in Blog
While it is right to raise valid concerns about the SQE, are we not a bit tired of hearing the same old tune of the beaten drum with no better alternatives being suggested and at the eleventh hour?
If the chief executive of a division of a massive American company is to be believed, corporations everywhere are in the process of changing to put the needs of the community alongside profits.