Underinsurance
Brokers eyeing up expansion in non-standard
More than three quarters (79%) of brokers had an increase in non-standard insurance enquiries over the past year with an identical amount expecting continued growth in the year ahead, according to a survey by Prestige Underwriting.
Ecclesiastical aims to help brokers with Independent Schools Risk Barometer
Ecclesiastical has launched The Independent Schools Risk Barometer 2024 to help brokers talk to clients in the sector about the biggest risks they face.
Twelve-month indemnity periods for BI are rarely fit for purpose in hospitality
To mitigate issues of underinsurance and ensure coverage adequacy in the hospitality sector, extended indemnity periods should be introduced. Rebecca Webster, broker development lead at McLarens, suggests a minimum of two or three years to cover the…
Brokers upbeat on 2024 growth – Aviva
Brokers are more optimistic about growth in the coming year than they have been since before 2020, according to Aviva, with 83% expecting their business to grow compared to 76% last year.
Video Q&A: Close Brothers Premium Finance MD Shaun Hooper
Following a recent survey of commercial brokers, Close Brothers Premium Finance managing director Shaun Hooper dissects the findings and offers insights into what his firm is doing to help intermediary clients avoid underinsurance.
Biba Conference 2024 countdown: Charterfields’ Joe Higgins
In this edition of our Biba Conference countdown, Joe Higgins, director at Charterfields, outlines the importance of chance encounters and LinkedIn-fuelled preparation, and warns about the dangers of underinsurance.
Three quarters of brokers still concerned about underinsured clients, claims Aviva
According to Aviva’s latest Broker Barometer survey, 73% of brokers are concerned that some of their clients may be underinsured as just 24% of brokers’ clients had increased their sums insured to an adequate level.
Review of the Year 2023: Aurora’s Carla Havemann
Carla Havemann, head of partnership strategy and engagement at Aurora, suspects AI will not revolutionise the market in the short term and hopes she is never subjected to an insurance-related remake of Barbie.
Heath Crawford payout underlines the perils of underinsurance for brokers
The substantial damages awarded in the recent judgment Infinity Reliance Limited (trading as My 1st Years) v Heath Crawford Limited remind insurance brokers of the perils of underinsurance, with business interruption cover being a particular pitfall…
Video Q&A: FullCircl CEO and co-founder Andrew Yates
Following its partnership with Acturis to integrate its SmartBroker solution, FullCircl CEO and co-founder Andrew Yates explains the benefits for brokers and future plans for the business.
Cliverton plans to double business – again – in five years
Cliverton is aiming to double the size of the business in the next five years, having achieved the same feat in the past five years, according to Lynne Fisher, associate director at the Norfolk-based broker.
The stats: Q3 hit by rocketing property owners and fleet rates
The latest figures from Acturis show that commercial insurance premiums continue to rise, resulting in an increasingly challenging environment for brokers and their clients, reports Rachel Gordon.
Ecclesiastical calls on brokers to speak to HNW clients on underinsurance
Three out of five (62%) high net worth collectors are worried that their collections and art are underinsured, according to insurer Ecclesiastical.
HNW market seeking more guidance, says Ecclesiastical
Some 67% of high-net-worth collectors want more art and collections risk guidance from their insurer or insurance broker, which presents an opportunity for brokers, according to research by Ecclesiastical.
Broker Expo 2023: Influencers warned about what they post on social media
Social media influencers are putting themselves at risk by posting about high value possessions when they are out of the house.
Interview: Mike Latham, Verlingue UK
Verlingue is a French broker that took off in the aftermath of the Second World War. Following publication of its latest financial results, UK CEO Mike Latham explains why the family-owned business is a steady generational business that has clear and…
Broking Success: Celebrating 50 years of independence
Having celebrated its 50th anniversary as an independent broker, R A Cowen & Partners, which is part of Cowens Group, has no plans to sell up any time soon. CEO Paul Chaplin sets out the philosophy behind the business and shares his route into broking.
My Perfect Broker Week: WTW’s Dave Fletcher
To tie in with the first-ever UK Broker Week, we asked our speakers to outline what their perfect working week would look like. Dave Fletcher, regional director Wales & West, WTW outlines his thoughts.
Interview: Jacqui Kelly, Zurich
Jacqui Kelly was the architect behind Zurich’s new Club Blue proposition that offers a wide range of broker support. Appointed interim sales and distribution director last month, she tells Insurance Age how Zurich’s ‘winning culture’ will sway brokers.
Meeting the challenge of avoiding underinsurance in HNW properties
Amid inflation and irregular surveying, high-net-worth buildings are potentially more at risk of underinsurance than ever before. Helena Evans, managing director at Criterion Adjusters, outlines how brokers can help clients to reduce this risk.
Tech entrepreneur launches kit to combat HNW fraud and underinsurance
Tech entrepreneur Jonathan Garnett has gone live with a system to help insurance firms combat fraud and underinsurance in high-net-worth assets.
PRA warns insurers on claims inflation and under-reserving
The Prudential Regulation Authority has written to insurers flagging the need to monitor the hit to reserves from ongoing claims inflation and act accordingly.
Intelligent AI platform targets closing commercial property underinsurance gap
InsurTech Intelligent AI has launched its Intelligent Rebuild Cost Validation Platform, designed to address the long-standing challenge of underinsurance in the commercial property market.
HNW underinsurance an increasing concern for brokers
Research by Ecclesiastical has revealed that a growing number of brokers believe there is a problem with underinsurance in the high-net-worth market.