Claims
News analysis: Post FCA Covid-19 test case how are brokers finding the BI market?
Business interruption was put in the spotlight during Covid-19, as insurers insisted that the pandemic was not covered in policies, Insurance Age looks at how BI has changed since then.
FCA data shows 19% of BI insurance claimants still waiting for full payment
Figures from the Financial Conduct Authority have confirmed that 34,506 business interruption insurance claimants have received their full payment out of 42,586 accepted by insurers.
Aviva strikes £100m-per-year capacity deal with Pen Underwriting
Pen Underwriting has announced a new multi-year strategic partnership with Aviva in support of its personal lines and property owners’ business, which will see Aviva providing capacity for over £100m in premium per annum.
FCA mixes praise for insurers on BI claims handling with concerns and lessons to be learned
The Financial Conduct Authority has welcomed insurers quickly making interim payments, reallocating resources swiftly and proactively communicating with policyholders in its review of business interruption claims handling.
Insurance veteran teams up with iRevolution bosses for M&A vehicle
The sales and marketing director at Tradewise Insurance Services, Wayne Bradshaw, has launched a self-named company Wayne Bradshaw Acquisitions.
FCA warns insurers to support customers’ wellbeing during cost of living crisis
The Financial Conduct Authority has expressed concerns, in a new 'Dear CEO' letter, that customers may cut-back on the insurance they need as pressure mounts on household budgets.
Ecclesiastical swings to half year loss on investment returns
Ecclesiastical Insurance has reported a pre-tax loss of £27.3m for the first half of the year compared to a profit of £46.5m in the same period of 2021.
Zego doubling down on growth with 40 brokers
Zego is pursuing a route of working with brokers who “see how the future is evolving” rather than a working “with any broker” approach, CEO Sten Saar told Insurance Age.
Car damage inflation cooling off - Jefferies
Jefferies’ UK motor insurance tracker has revealed that car damage inflation has dropped and is now at 7% year-on-year as the group maintained its forecast of a combined operating ratio of 116% for the market in 2022.
People Moves: 5-9 September 2022
Keeping you up to date with the latest insurance moves.
The case for outsourced FNOL: A guide for motor insurance brokers
The new FCA “price walking” regulations promise an end to the ‘race to the bottom’ and a shift towards improving customer service.
Opinion: Welcoming greater broker involvement with loss adjusters
Recently appointed Cila leader David Ross on the drive to have the majority of members achieve chartered status.
Is it time to review your claims handling process?
Covid-19, Brexit and the FCA’s price walking ban have given insurance brokers food for thought about how to manage challenges in a way that improves customer service.
Worries remain on subsidence but claims volume still uncertain
Earlier this month LV released figures showing that subsidence cases were up by 205% between June and July, and warned that they were likely to increase even more.
Legal protection proving value in tough times
Fiscal problems inevitably create legal ones, as disputes emerge over contracts, accounts fall into arrears and pressures generate conflict between employers and their staff.
Advertorial: What’s on insurers’ minds for law firms?
While 2020/21 saw law firms juggling competing needs to serve clients, in 2022 there has been a clear movement towards firms placing renewed focus on their people. It’s now more important than ever for brokers to ensure that their clients are…
LV issues fire and subsidence warning amid heatwave
LV Insurance has warned that the claims for heat and fire have increased due to the extreme weather the UK is currently experiencing.
GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
Insurers flag climate change concern following UK heatwave
Insurers have pledged to focus efforts on reducing climate change and called on the industry to be better prepared for weather events.
Car insurance premiums up 6% in the last 12 months
The cost of comprehensive car insurance rose by £32 in the last 12 months, according to research by Confused and WTW.
Experts warn clients will look elsewhere if brokers ignore parametric insurance
Specialists have highlighted the benefits to brokers of delivering parametric insurance to their clients and warned they will lose out if they do not engage with the fast-expanding offering that is becoming more mainstream.
Blog: How brokers can make the most of claims relationship managers
Allianz’s Kay Bagley analyses the opportunities for brokers in working closely with claims relationship managers looking at how to build partnerships that add value and deliver excellent customer outcomes.
Analysis: The challenge to build back better – as trust in insurance drops
Consumer trust in insurance has fallen over the past 12 months, but experts can see a route to a brighter future. Emmanuel Kenning reports.
WTW warns of accelerating motor claims inflation
WTW has warned UK motor claims inflation is expected to accelerate in 2022 after pandemic disruption caused a slowdown in the average time taken to settle claims which acted as a temporary break on rises.