Claims
Insurers could face £10m claim from paralysed female rugby player
A female rugby player has won compensation, which could reach £10m after a tackle from an opponent left her paralysed.
Davies names Allison Carr UK & Ireland CEO in group reorganistion
Davies Group has unveiled a new group structure as it aims for global growth.
Zurich flags rise in commercial crime claims as firms face average losses of £140,000
Theft at work in England and Wales has jumped by a fifth (19%), according to data released by Zurich.
Opinion: Tips to get your clients’ claims across the line quickly
Getting claims paid is not as straightforward as it once was, according to Malcolm Harvey, founder and executive director of Qlaims. Here, he explains a few hacks that might at least help speed up settlements.
Allianz reveals £32m December freeze hit and CEO Holmes predicts rate hikes to continue
Allianz Holding has revealed the impact of the winter weather on its bottom line, as CEO Colm Holmes forecast that the Q3 and Q4 rating hikes would continue into 2023.
Operating profit falls almost 60% at Allianz Holdings in 2022
Allianz Holdings has posted a 58.3% drop in operating profit to £132.3m for 2022 as its combined operating ratio deteriorated year on year from 93.2% to 99.2%.
FOS hones in on high motor insurance complaints
The Financial Ombudsman Service has zoomed in on the high level of complaints about motor insurance as it released the latest set of data.
Home insurance prices fall again to new record low
The average cost of home insurance dropped to £300 in 2022, the cheapest since the Association of British Insurers started collecting data in 2012.
Broker praise leads to claims recognition for Allianz, Chubb and Ecclesiastical
Insurance consultancy, Gracechurch, has awarded its Service Quality Marque to Allianz, Chubb and Ecclesiastical.
Brokers to settle ‘very little’ of £19m financial adviser claims amid latest FCA blow, legal expert says
The FCA’s hopes of getting insurers and brokers to settle £19.2m in IFA claims is in doubt, with a fresh legal challenge the latest blow to hit the regulator’s compensation scheme.
Zurich UK’s P&C operating profit drops to £226m in 2022
Zurich UK’s operating profit from property and casualty business fell £145m year-on-year to £226m in 2022 due to claims inflation and the impact of large losses.
Fitch warns of ‘dire’ profitability for insurers in ‘bleak’ picture
The outlook for UK home and motor insurers’ profitability “remains pretty dire for 2023”, according to Federico Faccio, senior director of EMEA insurance at Fitch Ratings.
Zurich names James Nicholson as UK CCO
Zurich has named James Nicholson as UK chief claims officer with immediate effect.
Rates rises slowed across UK insurance towards end of 2022
The pace of rate rises across UK insurance slowed down towards the end of last year, increasing by just 4% in the fourth quarter, according to Marsh specialty and global placement data.
Car premiums surge 19% in 2022
Comprehensive car insurance premiums increased sharply by 19% during the last 12 months, with UK motorists now paying £629 on average, according to the latest Car Insurance Price Index.
Aviva hit with extra claims costs from cold weather snap
Aviva has estimated that freezing weather in the UK during December will cost the insurer around £50m at a group level.
Zurich to expand claims concierge service to commercial and SME mid-market customers from Q1
Zurich UK has launched a bespoke concierge service for its personal lines customers in a move it claimed was an industry-first.
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.