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AXA-owned broker Bluefin has joined its parent in no longer accepting
referral fees.
AXA announced in June that it would no longer accept payments from personal
injury lawyers.
The insurer’s decision followed calls for a curb on referral fees led by
former justice secretary Jack Straw.
Bluefin managing director Mike Bruce said: “As part of AXA, we followed their
line and no longer take them.
“As we had only just started in this area – our legacy businesses having not
been involved in claims outsourcing – the business has been cut off before it
really got started.
Bruce said the move would have a “negligible effect” of the business. “Will
we do anything to replace the revenue lost? Not directly. There are many other
bigger issues on our radar.”
Medico Legal News Source : Insurance Times
