Claims – Page 56
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FeaturesAllianz Insurance exposed to BI claims through broker wordings
Chief executive adds that the insurer has seen 3,000 new business interruption claims following the Supreme Court’s judgment in January
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NewsAllianz Insurance sees 5.6% drop in GWP due to Covid-19 impact
The insurer says the total impact of coronavirus-related business interruption claims is £175m, net of reinsurance
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NewsMotor insurance premiums predicted to fall by up to 10% in 2021 – PWC
Home insurance premiums are also expected to decrease by 4% to 8%, says the professional services firm
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NewsMore than a fifth of adults trust insurance firms less because of Covid-19
To rectify the negativity surrounding the business interruption test case and the resulting impact on trust in the sector, ‘there is clearly work to be done at an industry level’ says Sicsic Advisory MD
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FeaturesFirms exposed to underinsurance as reputation becomes ‘massively growing risk issue’
Reputation-related insurance products are expected to become a ‘staple’ within the next five years as this risk becomes a rising agenda item for businesses
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NewsAccidental damage accounts for 48% of all new claims – LV= General Insurance
The insurer links this claim trend to the increase in home working and schooling, with drinks being spilled on technology such as laptops
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NewsRegulator warns capital markets will need to be part of future BI provision
The future provision of business interruption insurance is likely to require the use of alternative risk transfer solutions given the lessons learned from Covid-19
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FeaturesStandardisation: a route to greater transparency or ‘stifling’ for competition?
Standardising policy wordings may be considered a ‘dangerous road’ by some in the industry, but could some standardised elements support the push for improved transparency and policyholder understanding?
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NewsNearly half of bike insurance claims in 2020 were for theft – Bikmo
The average claim amount last year for bike insurance was £1,293 says specialist cycling insurer
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News AnalysisLockdown mitigates claims impact of Beast from the East II
Policyholders staying at home during lockdown are better able to combat potential escape of water claims resulting from the recent snowfall, but commercial clients may still be at risk following lockdown-induced business closures
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NewsSME BI insurance take-up hurt by Covid-19 claims fiasco, survey suggests
Insurers can benefit reputationally in the long run if they pay claims promptly, stresses GlobalData
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Features‘Testing times’ ahead for Covid-related employment liability claims
Industry voices believe a boom in employment liability claims is on the horizon. Insurance Times explores the Covid-19-related drivers behind the trend as well as what insurers and employers need to consider to mitigate claims
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NewsAllianz Insurance has issued BI claims pay outs on 75% of valid claims
At the end of January 2021, the insurer had made 1,832 interim and final BI claims payments
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NewsInperio to offer reduced professional indemnity premiums to solicitors via new partnership
Solicitors have had a tough time with professional indemnity insurance, but the MGA hopes to offer clients a quick and easy way of getting cover remotely
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NewsVisually and mobility impaired pedestrians are ‘most vulnerable’ in e-scooter incidents – Weightmans
A panel of insurance industry experts discuss the safety criteria around e-scooters and vulnerable road users, as well as the use of data from the ongoing government trials
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NewsManifesto 2021: Biba to explore basic insurance requirements for e-scooters
The trade body sees Brexit as a opportunity to undo the Vnuk ruling too
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NewsGovernment in talks with insurers over rising D&O cost
Widespread concerns that small businesses in particular are struggling to meet the cost of rising D&O premiums
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NewsIrish High Court rules against insurer FBD in Covid-linked BI claims case
The ruling could impact claims made by around 1,000 Irish pubs and restaurants
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NewsMotor injury claims fall by 23% year-on-year due to Covid-19
Overall, claims fell by 47% last year across motor, employers’ liability, public liability and clinical negligence claims
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NewsCovid claims lead to Beazley profit plunge
Claims payouts from the coronavirus pandemic have led to a significant decline in profit for the insurer
