Claims – Page 8
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News AnalysisRise in litigation funding puts insurers on high alert
Litigation funding has the potential to ‘drive bad claims further than they should go’, warns law firm partner
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NewsMcLarens reports 300% rise in suspected fake document use in Q1 2023
’Fakes are becoming more sophisticated and easier to come by,’ says head of investigation
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News AnalysisInsurers see ‘wide variety’ of claims reaching ‘hundreds of thousands of pounds’ linked to UK riots
However, insured losses should prove ’manageable for British insurance companies’ thanks to the Riot Compensation Act 2016, says managing director
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IT InterviewNick Turner: Circular economy approach could reduce cost and carbon footprint of claims
Nick Turner, head of surveying at loss adjusting firm Woodgate and Clark, explores how the insurance market can better manage claims costs while also supporting greater sustainability by embracing the concept of the circular economy
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NewsLondon insurers facing large claims bill after Taylor Swift concerts cancelled
Around 195,000 fans were due to attend
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NewsRecord £1.4bn in property claims paid out in Q2 2024
’Our latest figures demonstrate the devastating impact that adverse weather can have,’ says policy adviser
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News AnalysisUptick in fraudulent tinnitus claims is ‘an inherent, major issue’ for motor insurers
With tinnitus injuries attracting anything up to £90,000 in claim payouts, squashing fraud in this area is vitally important in protecting both policyholder and insurer purse strings
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NewsHigh Five: Catch up on the biggest stories this week
Insurance Times rounds up the biggest stories from this week
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NewsAA Underwriting extends vehicle data partnership with Percayso
The motor insurer made the move after being impressed with the initial deal
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NewsRSA launches new customer and broker claims portal
’Our goal was to enhance our claims capabilities, delivering an improved service to our customers and brokers,’ says chief operating officer
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News AnalysisBriefing: Discount rate may be first true indicator of insurers’ relationship with new government
Personal injury discount rate review could be telling for market participants amid Labour’s ambitions to reduce premium costs
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IT InterviewChris Hall: QuestGates’ new investment will accelerate growth plans
’With this new investment, we can be just a little bit more ambitious and a little bit quicker, while still being conservative,’ says chief executive
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NewsABI issues statement over riots as properties damaged across the UK
’Insurers appreciate that this is an incredibly stressful time and will be on hand to do everything they can to help customers as quickly as possible,’ says trade body
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NewsQuestGates secures new private equity investor
’We are delighted to be partnering with Hall and his team to support the next chapter in QuestGates’ growth,’ says private equity firm’s director
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NewsMotor premiums fall in Q2 2024 after two years of increases – ABI
’After a very challenging period for insurers and customers alike, we’re encouraged to see an easing of increases,’ says director of general insurance policy
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NewsDifferences in how FOS and insurers treat coverage disputes causing industry ‘irritation’
The compensation service prefers to review cases through a non-disclosure lens, rather than consider average clauses, says law firm partner
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NewsNews High Five: Catch up on the biggest stories this week
Insurance Times rounds up the biggest stories from this week (29 July to 2 August 2024)
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NewsRural crime claims rise as thieves ‘become more determined’
’All the indications suggest rural crime is becoming more organised, sophisticated and determined in its nature, which is incredibly alarming,’ says rural affairs specialist
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NewsNew product designed to monitor the cyber MGA market launched
’MGAs have been and are a crucial part of the cyber insurance value chain,’ says chief executive
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News AnalysisWill the lithium-ion battery boom trigger an insurance bust?
The rising use of lithium-ion batteries is increasing fire risks, prompting potential policy wording changes. How will the industry respond to this new challenge?
