Claims – Page 120
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NewsHiscox predicts £10m to £250m BI coronavirus hit and launches share placing
It recognises that this is an extremely difficult time for businesses and it is determined to provide greater certainty for its customers
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FeaturesThe Briefing: Coronavirus impacts on GI - With a reduction in road use due to Covid-19, should insurers start returning some premium?
Insurers in the US are refunding part of their customers’ car insurance premiums as coronavirus lockdown measures see a decline in vehicle use and therefore claims, but will the UK market follow suit? Four industry experts share their thoughts
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FeaturesThe Briefing: Coronavirus impacts on GI – Is the insurance sector caught in the crossfire of Covid-19 pressures?
Financial services consultancy says ‘the expectation for the industry to just pick up the tab for a once-in-a-century crisis like coronavirus is just not reasonable’
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Newse-trading Q&A: NIG sees significant uptick in inbound calls and email traffic amid Covid-19
NIG has spotted an increase in inbound calls at its etrade operations and claims centres with many brokers seeking guidance on policy coverage during the coronavirus crisis, Insurance Times etrading 2020 results are also now available
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People & OpinionBlog: Adaption, when it’s necessary, it happens – 360Globalnet's Paul Stanley
Covid-19 has fast tracked digital processes for many firms. Necessity is not just the mother of invention, it is also the mother of adaptation and adoption, says Paul Stanley FCII, chief executive at insurtech 360Globalnet
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NewsMore consumers want to purchase insurance in light of Covid-19 pandemic says consultancy
The Capgemini Research Institute found a 10-percentage point increase in the number of consumers looking to buy insurance
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NewsMore than half of UK publicans have had their BI claims rejected says trade association
Nearly two-thirds of pub owners have also had their pandemic insurance applications refused
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NewsZurich joins Uinsure’s household and buy to let insurance panels
The panel already includes AXA, Ageas and RSA, to name a few
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NewsHiscox Action Group and Night Time Industries Association join forces
The two hope to pool resources and share information as they seek a pay out from Hiscox
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NewsLV= ringfences £30m to help customers suffering financial hardship because of Covid-19
The insurer will redirect savings from reduced claims during lockdown to help car and motorbike policyholders
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NewsCovid-19: Insurers in talks to set up fund to help stricken charities
Fund would provide relief to charities unable to collect funds amid the lockdown measures
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NewsCovid-19: SMEs could stop buying BI policies
A survey found a significant number of companies would not bother buying such cover in the future
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NewsWillis Towers Watson predicts up to $13.9bn market loss for BI and contingency lines due to Covid-19
The firm’s insurance consulting and technology business says the effectiveness of policy wordings is a key uncertainty
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IT InterviewLexisNexis Risk Solutions UK boss says use of policy history information is ‘really rudimentary’
The firm’s managing director for UK and Ireland believes policy history data could be better utilised to improve ratings and underwriting
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NewsCouncil warns schools on PPE production risk
Warning comes as schools step in produce protective equipment
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NewsFCA to obtain legal clarity on BI insurance following influx of coronavirus-related claims
The regulator has also offered guidance to insurers, asking them to assess the value of their products in light of the Covid-19 pandemic
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NewsNDML and NTIA call on chancellor to release Pool Re funds
They have penned an open letter to Rishi Sunak
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FeaturesIndustry experts warn of insider fraud as a result of Covid-19 pandemic
A panel of UK and US insurance professionals say insurance staff working from home may undertake opportunistic fraud to mitigate financial hardship brought on by the pandemic
