Claims
People Moves: 16 - 20 January 2023
Keep up to date with the latest personnel moves within the insurance market.
Cost-of-living crisis to place additional regulatory focus on market
DAC Beachcroft has published its predictions for 2023, which touches on the impending implementation of the Consumer Duty and what the Financial Conduct Authority will expect of the insurance industry during the cost-of-living crisis.
Ageas makes significant changes to its UK executive team
Ageas UK has made two executive team appointments, with Rashmi Rao as chief information officer, and Stephen Linklater as claims director.
Analysts warn of further hit to UK property insurance market in 2023
Increasing weather-related claims and soaring rebuild costs will damage the profitability of UK property insurers this year, according to analytics company Globaldata.
Allianz Commercial reports detected fraud up 11.2%
Allianz Commercial has revealed it detected £70.7m worth of insurance fraud in 2022, up 11.2% on the £63.6m uncovered the year before.
FCA opens client support consultation and reiterates need for brokers to treat customers fairly
The Financial Conduct Authority has opened a consultation on protections for insurance customers in financial difficulty proposing to update guidance introduced during the Covid-19 crisis.
Brokers urged to tighten safeguards amid threat of client underinsurance backlash
Brokers are being urged to tighten safeguards amid the threat of businesses, suffering problems from underinsurance, taking legal action.
Review of the Year 2022: Michelle Taylor, Zurich head of sales and distribution
In the latest part of Insurance Age's review of the year Zurich head of sales and distribution Michelle Taylor offers her reflections on 2022 and predictions for the next 12 months.
Fair value? Which household insurers are rejecting the most claims?
Ageas, Axa UK and LV have some of the highest claims rejection rates in home insurance out of all the insurers who work with brokers, Financial Conduct Authority figures show.
The stats: Q3 - Feeling the squeeze as commercial continues to climb
Recent figures for Q3 from Acturis show policyholders remain under intense pressure as premiums rise across all business classes, reports Rachel Gordon
Pressures on fleet market push rates upwards
Figures from Acturis and opinion from market specialists indicate that fleet rates now look set to rise after many months of premium falls and stagnation.
FCA ‘haven’t thought through’ plans for PI insurers to pay millions in IFA claims
Insurers have a number of valid reasons to reject claims from IFAs who mis-sold pensions to British steel workers, according to a legal expert.
Gallagher calculates 40% of commercial properties underinsured
Gallagher has assessed that two in five commercial properties in the UK are currently underinsured with the problem hitting a record high.
FCA says insurers undervaluing cars and other items at claims stage
The Financial Conduct Authority has warned insurance firms not to undervalue items when settling insurance claims, especially during the cost of living squeeze, saying it has seen evidence the practice is happening.
A system to categorise cyber incidents in the pipeline - CFC head Burns
At the CFC Cyber Forum yesterday, James Burns, head of cyber at CFC, revealed plans to categorise cyber incidents, just like weather events, to determine the impact of each incident and to help insurers and brokers regulate the severity of subsequent…
Qlaims launches ATE service
Qlaims has extended its claims assistance to provide after the event services to its brokers.
Freedom Service Group reveals permanent 4-day work week
Freedom Service Group has revealed that its four-day week pilot was a success and the offering will be introduced permanently from January 2023.
FCA takes aim at gap between industry statements and results of first value measures data
The Financial Conduct Authority has warned it will consider which tools it can use to protect consumers as it unveiled its first personal lines value measures data.
People Moves: 21-25 November 2022
Keep up to date with the latest personnel moves in insurance.
Brokers await imminent FCA ruling which is expected to trigger claims from IFAs
A Financial Conduct Authority ruling which could trigger professional indemnity claims from independent financial advisers is expected at any moment.
Broker insurance fraud cheat given suspended prison sentence
Lois Cartridge from Bournemouth, an insurance account handler at a broker, has been given given a custodial sentence of 16 weeks, suspended for 12 months, and ordered to pay costs of over £20,000 after exaggerating the severity of her whiplash claim.
Ten ways to combat underinsurance
Brokers play a key role in helping businesses get the right amount of cover and in times of inflation, more than ever, this role becomes absolutely crucial in avoiding underinsurance, argues Nick Hobbs, chief distribution and regions officer at Allianz…
Covea, Hiscox and RSA commit to Build Back Better
Covea, Hiscox and RSA have all committed to help the UK adapt to the changing climate by joining Flood Re’s Build Back Better scheme.
Qlaims partners with MVP and Ataraxia Network
Insurtech MGA Qlaims has partnered with MVP and Ataraxia Network to offer their brokers its claims and risk management solution.