What is there to complain about this week?
About 4.5 million motorists still leave their car keys next to their front door in full view of thieves, despite a recent surge in ‘car key burglaries’, according to a Swiftcover survey. Some are more careful – the survey has found 1.5 million take their car keys to bed every night.
Quinn’s administrator has accused the insurer’s former managers of running it in an unsophisticated way. Grant Thornton’s barrister told the Irish High Court that Quinn’s motor book pricing was “far less sophisticated” than similar-sized insurers.
When will they get the message?
Widespread gaps exist in SMEs’ commercial insurance cover, according to research by Evolution. Its study shows that 42% of SMEs know they are underinsured, while 18% admit to having no employers’ liability cover, although it is a legal requirement.
Staff of fallen Independent Insurance may have to wait up to 18 months to receive only 10%-16% of their severance packages. Administrator PwC has told former staff the final sum will depend on how much is left after long-tail claims are settled using money put together from Independent’s remaining assets.
In all that spare time …
Insurers have been given a new task. The government wants them to handle climate change. Environment secretary Caroline Spelman said the industry was in pole position to develop ways of dealing with natural disasters. Anything else while we’re at it? National deficit, perhaps?