ABI data shows the average fraudulent insurance claim has now reached £12,000 as the the body praises the efforts made by insurers’ fraud investigation teams throughout the pandemic.
The sharing economy start-up has signed a distribution deal with the providers.
Acquisition provides further entry into Ireland and expands specialty expertise for the US headquartered business.
The broker has teamed up with SchemeServe to develop the platform which offers a combined commercial and residential property owners’ scheme.
The organisation says the number of policies traded on its imarket solution reached a record high in March 2021, after volumes dropped in 2020 when businesses closed due to the pandemic.
The provider's Syndicate 1856 is moving into business classes including D&F property, marine and energy liability, political risk, terror and war, cargo and specie and professional lines, following $350m capital injection.
Consolidator says the PI specialist broker will be integrated into its Guernsey-based business as it plans to expand across the Channel Islands.
The consultancy has developed a niche risk and insurance adviser for property investors, developers and the construction sector.
Move follows large premium increases in the market after the Grenfell fire and the provider urges brokers to sell the product net of commission on a fee basis to keep costs down.
The industry-wide property damage Task Force is meant to bring insurers, brokers, loss adjusters, legal specialists, and corporates together to identify emerging issues in the property claims sector.
Insurance Age meets the team at specialist managing general agent Avid Insurance.
Ardonagh-owned Ethos says the deal brings its number of regional hubs up to 13.
Covid-19 has had a significant effect on claims in the commercial insurance space
The business is backed by Munich Re and will initially focus on UK property, including main residences, holiday homes, second residences and let properties.
The new e-trade offering, sold via brokers, provides cover for freelancers and small businesses in allied health professions such as audiologists, chiropodists and opticians, as well as complementary therapy, beauty and fitness.
Clear Group now handles £225m in gross written premium.
Caroline King, of Pen Underwriting, on why providers can no longer be ‘monochrome’ in their approach to commercial premises.
It is the fourth deal this year for Specialist Risk Group and adds £30m in GWP to the business.
The deal doubles property capacity for the MGA which is part of broker Willis IRM.
The MGA is chartered and based in East Anglia.
The MGA said it developed the proposition in anticipation of a spike in empty properties due to post-Covid disruption.
PI and property rates were hit hard following the Grenfell fire horror. Martin Friel investigates the wider insurance implications but is met with deafening silence from providers as brokers sound the alarm.
Floodflash founder CEO Adam Rimmer talks to Insurance Age content director Jonathan Swift about how it paid a Storm Christoph claim in January within 9 hours and 44 minutes.
Floodflash founder CEO Adam Rimmer talks to Insurance Age content director Jonathan Swift about a new survey it undertook that found that 48% of businesses worry about flooding as a threat to the UK economy.