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Consumers and brokers have their say on claims ratings

Loss manager and claims preparer LMI Group will relaunch its ClaimsComparison service this week after surveying brokers, insurance service providers and consumers on their claims experiences.

Several insurers receive the top five-star rating for handling private motor claims, including AIG, Westpac, Vero and WFI.

Chubb receives five stars for home and contents claims-handling, while Elders – underwritten by QBE – is top-rated for landlords’ cover.

Acerta’s (formerly Guild) commercial all-package cover earns a five-star rating, while CGU and National Transport Insurance are top-rated for commercial and fleet motor claims-handling.

Sports Underwriting Australia rates 4.75 for directors’ and officers’ claims, and Brooklyn Underwriting – with cover provided by Vero – receives 4.25 for professional indemnity.

The new information will go live later this week, with more details in Insurance News (the magazine), which is being posted to subscribers this week.

LMI founder Allan Manning launched the site last year, using data from the Financial Ombudsman Service. He has now updated it by publishing a survey and weighting the results.

Respondents can rate an insurer’s performance based on speed, proactivity, accuracy and fairness, but only for claims dealt with in the previous three months.

Professor Manning plans to update the site every quarter.

He told insuranceNEWS.com.au claims departments get many positive comments and the survey shows brokers and consumers appreciate their claims being dealt with promptly and accurately.