Claims – Page 63
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NewsHome insurance premiums fall amid lower claims frequency during Covid-19 pandemic
In Consumer Intelligence’s latest analysis, a drop in home insurance premiums has been revealed, but one area continues to pay the highest
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NewsHome insurers could save around £368m in 2020 thanks to Covid-19 lockdowns
During the course of the year, there has been a 12.4% overall drop in home insurance claims
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NewsReputation is ‘hidden’ claims cost insurers must mitigate
A customer’s bad claims experience and the overall reputation of the insurer can have a correlating impact on claims costs, agreed expert panel
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NewsInsurers must be proactive around interventional rehab ahead of whiplash reforms – Connexus Group
Expert panel suggests that it is imperative to engage with third parties early in order to grasp a fuller understanding of claims costs
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News‘Partnership-led ecosystem’ central to future of broker success
It is not ‘feasible’ or ‘reasonable’ to expect brokers to have in-house capability for a myriad of value-added services, says broking chief executive
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News AnalysisInsurers and brokers braced for fallout as another latent defects insurer collapses
In the aftermath of the Grenfell Tower fire, cladding has been a hot topic, with more and more latent defects insurers falling into administration after struggling to pay claims, Insurance Times investigates the wider impact on insurers and brokers
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NewsInsurance Times Awards finalist 2020 Q&A: Markel’s ‘settle-first’ claims approach proves valuable in lockdown
Next month the winners for Insurance Times Awards 2020 will be revealed at a virtual ceremony on 9 December
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NewsLV= pays out £10m in storm damage claims this year
The insurer says that the average storm claim cost is £2,600
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NewsFourth consecutive year of rate rises gives Lloyd’s tail wind to deliver its plans
Lloyd’s of London anticipates it will pay £5bn in Covid-19 claims, but John Neal says this is good news
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NewsFSCS to crank up supplementary levy to accommodate for firm failures
The general insurance distribution class retail pool will need to stump up an extra £29m, for example
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Features‘Gross profit’ terminology confusion creates underinsurance hazard – Sedgwick
Determining insurable gross profit versus an accounting gross profit can be a headache for policyholders, however if calculated incorrectly, the ramifications on business interruption claim payouts could be impactful. Insurance Times explores the issue as well as possible solutions
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NewsAviva revises down pandemic BI claims cost estimate
Aviva said fewer claims in the third quarter had allowed it to cut its forecast payout figure for business interruption claims
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NewsFOIL warns of potential injuries and complex claims ahead of 2021 London e-scooter trials
With Transport for London set to start e-scooter trials in London next year, insurers and brokers could have some new challenges and risks ahead
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NewsInsurance Times Awards finalist 2020 Q&A: Carrot Insurance rewards customers for driving safely during lockdown
Next month the winners for the Insurance Times Awards 2020 will be revealed at a virtual ceremony on 9 December
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IT InterviewIndustry has work to do to regain customer confidence – Zurich
Zurich UK’s head of retail believes insurers are ‘absolutely all aligned’ to repairing the reputational damage caused by the FCA’s test case and confusion over business interruption cover
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NewsLockdowns expected to bring big drop in claims costs this year, but 2021 predicted to turn negative
Underlying claims inflation, Brexit and the FCA’s new pricing rules could turn underwriting profits red next year, predicts EY
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News AnalysisFCA labels insurers’ arguments as ‘far-fetched’ in Supreme Court hearing
However, insurers claim that there ‘is no justification for engineering contractual wording to accommodate unique circumstances which have occurred subsequently’
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NewsLiP portal to undergo third stage of testing in new year
The Motor Insurers’ Bureau confirms that the online service is ‘85% ready’
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NewsClarifying causation will be crux of Supreme Court ruling – Fenchurch Law
However, Supreme Court judges also suggest a public policy stance around pre-trigger losses
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News AnalysisPremiums soar for independent financial advisors’ PI as insurers dwindle
As the UK approaches a pandemic induced recession, advice firms are facing higher premiums as insurers that provide professional indemnity for advisors have significantly reduced after a series of regulatory changes, constraints and historical blunders. Insurance Times investigates what this means for insurers and IFAs – and whether brokers ...
