Claims – Page 33
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News AnalysisHow is the industry faring ahead of the FCA’s Consumer Duty implementation?
Insurance DataLab provides exclusive analysis of the Financial Ombudsman Service’s most recent complaints data to see how prepared the industry is for the FCA’s Consumer Duty this July
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News AnalysisCannabis: A growing insurance problem
Tenants using residential rental properties ‘for the harvest of drug crops’ are ‘the biggest threat to private landlords’ – brokers and insurers must have this risk on their radar to combat rising claims
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News AnalysisIn Focus: How can the insurance sector mitigate increasing HNW subsidence claims?
Industry experts weigh in on the causes why high net worth subsidence claims are rising and discuss how best to respond to this risk
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News AnalysisInsurers make brokers’ ‘life hell’ when dealing with professional indemnity claims
Improving broker and insurer relationships in the PI market include ‘getting back to the basics’ and investing in internal claims teams, rather than insurers ‘just hiding behind the broker’
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News AnalysisBriefing: Cost of living crisis causing spike in accidental damage claims
The propensity for homeowners to submit accidental damage claims has increased as household budgets have been squeezed – but the industry must be alive to opportunistic fraud risks
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News AnalysisIn Focus: Is high net worth cover ‘too generous’ for clients?
Broker leader reveals potential ‘recipe for disaster’ from having ‘underpriced’ premiums and ‘too good’ cover in the HNW market
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News AnalysisInsurers brace for employers’ liability claims as Covid and flu ‘twindemic’ ramps up
However, some market commentators believe this dynamic is an opportunity for innovation
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NewsFraud experts warn of worrying rise in physiotherapist-driven ‘prognosis creep’ on OIC portal
The time needed for claimants to provide medical reports has increased in some cases, raising the risk of fraud
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NewsDirect Line navigating further motor claims inflation
The insurer noted that claims inflation remains a feature of the market
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News AnalysisCost of fraud set to ‘snowball’ in 2023
Counter fraud experts say that the continuing cost of living crisis and economic turmoil in the UK will increase the danger of opportunistic fraud
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NewsEcclesiastical takes over Brokerbility scheme
The scheme took effect from Thursday 1 December and forms part of the specialist insurer’s ‘ambitious’ growth plans, says corporate buisness director
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News AnalysisQuick thaw delivered major claims impact from UK cold snap
Freezing temperatures in December 2022 have led to a flood of claims submissions and enquiries as insurers brace for burst pipe bad news from policyholders
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News AnalysisBriefing: Legislation sorely needed to help mitigate ‘six-figure’ e-scooter claims
However, with the onset of legislation, the potential for first and third party fraud could rise
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Sponsored ContentWeathering macroeconomic storms through claims partnerships – Gallagher Bassett
Gallagher Bassett’s UK chief executive, Simon Pemberton, and chief client officer, John Fearn, assess the challenges being faced in the insurance industry today and how to best combat them
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NewsBackchat December 2022
A cello meets an untimely death, rivalries revealed over virtual snowballs, a broking superhero duo and a dance off at the Insurance Times Awards. What has the insurance industry been up to? You heard it here first…
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News AnalysisParametric insurance poses ‘really compelling’ solution to climate change driven weather events
Following November’s Cop27 conference, the impact of weather events influenced by climate change has hit home – and brokers are looking outside of traditional covers to help clients
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News AnalysisOpinion: Industry will need to continue to knuckle down in 2023
Editor Katie Scott summarises some of the year’s key challenges and what the industry may expect come 2023
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News AnalysisIn Focus: Insurers must brace for property disrepair claims as CMCs’ interest is piqued
Counter fraud experts have seen cases where certain CMCs have encouraged vulnerable customers to pursue ‘exaggerated or unmeritorious claims’
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News AnalysisBriefing: Underinsured or underinformed?
Increasing numbers of business owners are underinsured for their commercial property – but is this an active decision, or has the insurance industry failed to properly communicate the risks of underinsurance?
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IT InterviewQ&A: ‘Granular claims data with cross-search functionality has been a big blind spot for the market’ - LexisNexis Risk Solutions
Insurance Times speaks with Carla McDonald, director of insurance claims product management at LexisNexis Risk Solutions, about how claims data can be better utilised to support brokers
