RSA, a UK based commercial insurer, has signed a bilateral agreement with LV= in an effort to accelerate motor payment processes and eliminate unwanted costs.
LV= technical claims director Martin Milliner said, ”These types of bilateral agreements are a way to ensure that insurers work together as effectively as possible to reduce unnecessary costs within the claims cycle.”
RSA UK & Western Europe claims director David Pitt said both companies will work jointly to help streamline the motor claims process.
”We remain open to talks with other insurers on the possibility of bilateral agreements to increase efficiency and to avoid any further disputes,” Pitt added.
The company had also entered into similar agreements with Groupama and The Co-operative Insurance earlier this year to help address the problems of subrogated motor repair costs.
RSA is a provider of insurance solutions for both corporates and individuals, including large and complex risks, mid market commercial risks and retail customers worldwide.