Claims – Page 26
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NewsSmaller businesses becoming bigger targets for cyber criminals as claims rise – Coalition
The cyber insurer’s head of claims says small businesses ’often lack resources’
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NewsLloyd’s of London’s reserving for Ukraine crisis is a 'sensible reserve position’
Lloyd’s had arrived at its reserving figure for Ukraine-related claims via a ’probability weighted exposure reserving method’, says chief financial officer
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NewsNot all cloud downtime losses covered by cyber errors and omissions insurance – Parametrix
The limited coverage is characterised by low coverage limits, long waiting periods, narrow coverage triggers, significant deductibles and long claims processes
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AnalysisBriefing: Brokers fear professional indemnity market crunch will only worsen
Despite the industry’s attempts to mitigate construction PI risks, capacity is still being squeezed in this line of business
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NewsABI responds to Merton Council leader comments in wake of Thornton Heath gas explosion
The trade association said it would continue to monitor any developments and reiterated that insurers would continue to do everything they can to assist impacted residents
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AnalysisClaims inflation drives ‘a major deterioration’ in UK motor market
With price increases unable to keep pace with inflation, motor insurers must look to claims prevention and repair network support if they wish to remain in the black
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NewsInsurers must fulfil ‘moral obligation’ to Thornton Heath residents following major gas explosion
The leader of Merton Council says he will be writing to the government in response to home insurers refusing to pay out claims to impacted residents
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NewsD&O insurance pricing down – Aon
Despite branding market conditions for the line as moderate, the broker noted that pricing fell, capacity was abundant and underwriting was more flexible
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NewsInflation-driven ‘dip’ in renovation market could hit HNW sector
However, ultra high net worth clients may be more resilient to underinsurance caused by inflation
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NewsJunior underwriter at reinsurer wins sexual discrimination case
A derogatory comment was made about the underwriter’s breasts
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NewsTaxi driver pays £12,500 in damages after staged three vehicle crash
The savings associated with preventing the fraudulent claim, including legal costs, amount to £175,000, according to law firm
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NewsMan jailed after using different identities to submit fake travel insurance claims
Aviva was one of six insurance companies impacted by the 27-year-old’s fraudulent activity
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NewsPrevisico plans US expansion following partnership
The insurtech has started its American expansion in New York City
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NewsEuropean windstorms caused £3,142m in insurance industry losses – Perils
The firm’s latest estimate would make the February storms the largest European windstorm loss since January 2007
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NewsE-scooter and e-bike lithium-ion battery fire claims spark losses of over half a million pounds – Axa UK
The insurer is warning commercial businesses and consumers of the risks associated with fires resulting from the electrically powered micro-mobility vehicles
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AnalysisWhich firms are leading the way on customer experience?
Insurance DataLab takes a deep dive into the customer experience provided by personal lines insurers and brokers – which organisations have excelled across the analysis’ four service metrics?
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NewsFire claims soar to £1.2m due to UK heatwave – LV=GI
One specific case was caused by a mirror in a garden reflecting off the sun and subsequently setting a wheelie bin alight
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NewsJohnson and Johnson to end all UK Baby Powder sales as ovarian cancer claims escalate
Despite this, the pharmaceutical firm says its talcum Baby Powder ’does not contain asbestos and does not cause cancer’
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NewsDrought to cause mayhem for UK insurers
Insurers should brace for weather-related claims as temperatures soar and drought is officially declared across parts of England
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NewsBotched eyebrow microblading and tinting account for 37% of salon injury claims – Zurich
Laser hair removal only accounted for 7% of claims but involved the most serious injuries
