Claims – Page 239
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NewsMan sentenced for lying about documents in £300,000 insurance claim
A 61-year-old man has been sentenced to 12 months’ imprisonment, suspended for two years, after using fake invoices in a £300,000 insurance claim. Richard William Kirkup Lewis from South Wales pleaded guilty to fraud by false representation and was sentenced at Swansea Crown Court on Friday ...
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NewsBriefing: As another insurer goes direct, should brokers be worried?
Another day, another insurer going SME direct. This times it is US insurer Travelers, releasing a direct SME office product for fewer than 10 employees and less than £2.5m in revenues. Travelers joins AXA, Allianz (Premierline Direct) and Hiscox, who have all gone direct to business ...
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NewsAon Benfield makes senior hire to head global cyber practice group
Aon Benfield has hired Luke Foord-Kelcey to co-head its global cyber practice group. Based in London, Foord-Kelcey will be responsible for developing Aon Benfield’s cyber offering to insurers and reinsurers. He will work with co-head Bill Henriques, who established the practice group. Prior to joining Aon, ...
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NewsFine firms for failing to report data breaches - MPs
MPs are calling for tougher rules that could force companies to report cyber attacks. The Culture, Media and Sport select committee said in a report yesterday that the regulator should have a “robust system of escalating fines” for those failing to report security breaches, the Financial ...
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AgendaMeerkats and ego massaging: psychology of the new market
With the smartphone making everyone’s attention spans shorter, insurance companies need to develop technology that makes consumers feel ‘at the centre of the world’ and appeal to emotions rather than rationality
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NewsInsurance lawyers warn about 'pseudo lawyers' in small claims courts
The government’s crackdown on bogus whiplash claims could backfire and actually strengthen the role of claims management companies, according to the Forum of Insurance Lawyers (FOIL). Plans to increase the small claims court limit for personal injury from £1,000 to £5,000 will leave many personal injury ...
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Online onlyinet3 unveils non-standard property Flood Re solution
Inet 3, a specialist property managing general agent (MGA), has launched its Flood Re solution for non-standard home risks. The launch was supported by a new broker learning hub designed to assist brokers with product knowledge and competency through an online, tailored training programme. Inet3 brokers ...
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AgendaStart-ups on insurers: ‘It is like you are in a pinball machine’
Start-ups speak out on the difficulties and frustrations of working with insurance companies.
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NewsRolls-Royce unveils 'luxury' driverless car
Rolls-Royce has unveiled its first driverless car which it claims is the “the future of luxury mobility”. The Rolls-Royce Vision Next 100 has no steering wheel, only one door and a virtual assistant. Instead of a chauffeur the vehicle will be controlled by a female-voiced artificial ...
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NewsInsurers must prepare for big changes as driverless era looms
The UK motor insurance market must prepare itself for legislation changes, huge falls in premium income and fewer crashes as driverless vehicles become reality, research firm Thatcham said. The firm said that by 2021 driverless cars will be able to go on motorways and that by ...
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NewsMan sentenced for using charity bank account to defraud Swiftcover
A 29-year-old man has been sentenced to five and a half months in prison, suspended for 18 months, for trying to buy car insurance from Swiftcover using a charity’s bank account. Imran Aslam from Bolton was sentenced at Bolton Magistrates Court on Friday 10 May after ...
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NewsGeneral insurers to hire more as disruption fears grow
General insurers are looking to hire more people as their fear of being disrupted increases, according to the latest quarterly CBI/PwC financial services survey. The survey found that the top three reasons for general insurers expanding their workforce is to improve efficiency, provide new products and ...
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NewsFoo Fighters sue Integro broker and insurers over cancelled shows
Foo Fighters are suing Integro-owned broker Robertson Taylor and several insurance companies for not paying out for seven cancelled gigs. The US lawsuit mentions three cancelled performances after lead singer Dave Grohl broke his leg in June 2015 and four after the Paris terror attacks in ...
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NewsPIB launches telematics-based fleet product
PIB has launched a telematics-based insurance product for the fleet market. The broking group said the product uses telematics data and risk management to reduce costs for fleet operators. The product uses driver behaviour and attitude data to influence the insurance premium paid as part of ...
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NewsLast day for Tech and Innovation awards entries. Click here to enter now!
Today is the last day you can grab your chance to enter the Insurance Times Tech and Innovation awards.
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Online onlyUK homeowners throw £37m a year into auto-renewal black hole
UK homeowners are “tricked” into collectively wasting £37m annually by allowing their home insurance provider to automatically renew their policy, according to MoneySuperMarket research. The analysis says one-quarter (26%) of homeowners with buildings and/or contents cover automatically renewed their policy with their existing provider and almost ...
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Online onlyCustomers should push industry to reinvent itself – KPMG
Customers should be the “inspiration” for insurers to reinvent themselves, after KMPG research found insurers focus more on complying with new regulations instead. The report says insurers are failing to adapt to changing customer needs and technology, with 57% of executives admitting that efforts to transform ...
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NewsAccelerated crackdown on CMC cold calling needed
The government needs to accelerate the new regulatory regime for claims management companies to eliminate the plague of cold calling, Minster Law head of legal Charles Layfield tells Insurance Times.
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NewsPwC and Z/Yen launch global study into benefits of blockchain
PwC and blockchain consultancy Z/Yen are collaborating on research to identify the potential benefits of mutually distributed ledger (MDL) technology for wholesale insurance. The global research report will be published in July alongside a prototype proof of concept being developed by PwC at its blockchain research ...
