Steadfast and NSW state insurer icare will sponsor the Mansfield Awards for the third consecutive year, with the event scheduled for July 25.

The annual awards, which recognise claims excellence, are run on a non-profit basis by Insurance News and claims specialist LMI. Any money left over from the event goes to charity.

The two original sponsors’ decision to again support the event underlines the importance both place on effective claims service in the insurance industry.

“The awards were conceived as a way to support awareness of the need for excellence in claims,” LMI MD Allan Manning said.

“The sponsors’ continuing support enables us to continue in our efforts to celebrate the work of professionals in the vitally important claims arm of the insurance industry.”

The Mansfield Awards – named after the British lord chief justice who introduced the concept of “utmost good faith” to insurance contracts in 1766 – continue to attract many CEOs, claims managers and staff, and claims service professionals.

Insurance News Publisher Terry McMullan says continuing support of the awards from senior industry management is even more important following the Hayne royal commission’s recommendations related to claims.

“The work of claims professionals is under intense scrutiny,” he said. “What happens in the claims department has an enormous influence on the reputation of an insurance company.”

Award entrants are scored using official reports and surveys conducted by LMI, with the results “weighted” so all insurers are viewed equally.

Invitations to this year’s event in Sydney will be sent in coming weeks.

Awards will again be presented for the best claims teams in personal lines, SME property and casualty, corporate property and casualty, and specialty.

The company with most points will win the Gold Mansfield Award for overall excellence. Last year’s Gold Mansfield winner was Allianz. For more information, click here.