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Underinsurance Pandemic – Morgan Clark shares their views with BIBA

Published May 11, 2021

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Morgan Clark joined The British Insurance Brokers’ Association (BIBA) as Associate Members in 2019 and are the only Loss Assessor firm to have this membership. BIBA is the UK’s leading insurance intermediary organisation, representing the interests of insurance brokers, intermediaries and their customers and advising on key insurance issues.

Morgan Clark works closely with BIBA to share their insights on relevant topics and Phil Morgan, Chairman of Morgan Clark recently wrote a guest article on underinsurance. For those of us predominantly working at the back end of the insurance industry and particularly those dealing with major loss claims, instances of underinsurance are an ever-increasing feature.

Phil shares his views on the BIBA website and the article can be read in full here: https://www.biba.org.uk/members-news/underinsurance-pandemic-a-view-from-morgan-clark/.

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What does ‘underinsurance’ really mean when you need to make a claim?

Until the day comes that you need to make a major insurance claim, you will probably never worry about the term underinsurance. Sadly though, if you are under-insured and you have to make a claim this can have a devastating impact on your settlement and even put your whole claim at risk, and here’s why....

April 2011

Homeowners warned about under-insurance

A leading UK insurer has issued warnings to homeowners about under-insurance. It estimates that 65 per cent of home contents insurance holders only estimate rather than accurately calculate the true value of their possessions – leaving them under-protected.

Underinsurance Pandemic – Morgan Clark shares their views with BIBA

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