Commercial Lines related articles – Page 62
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NewsNew Castleford-based broker to launch into SME market
The recently formed broker will cut the ribbon in early February
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NewsUK government scheme Cyber Essentials insurance is ‘appalling’ for SMEs
The National Cyber Security Centre’s initiative demonstrates both opportunities and obstacles for clients, say insurance industry leaders
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News AnalysisBriefing: Commercial brokers must build cyber cover confidence to avoid ‘lazy broking’
Are brokers sufficiently equipped to have well informed cyber insurance discussions with clients or are they ‘doing a very poor job on the whole’?
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NewsFCA highlights focus areas for Consumer Duty implementation
The multi-firm review from the regulator ‘should be of real concern to the industry’
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News AnalysisThe Big Question January/February 2023: How can insurance firms help SMEs amid increased business insolvencies?
As UK business insolvencies spike due to tighter financial pressures, Insurance Times asks industry leaders about what firms can do to mitigate the risk
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NewsManifesto 2023: Cost of living crisis heightening underinsurance is a ‘concern’
Standalone cyber insurance is one of the most common products where insureds opt to drop cover, according to Biba’s latest research
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NewsZurich teams up with South Pole to support clients' net zero goals
‘Demand for climate resilience services has grown exponentially in recent years’, says global head
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NewsManifesto 2023: Insurance sector needs time to prepare for ‘significant impact’ of Martyn’s Law - Biba
The broker trade body may compile a scheme to help its members action the new duty’s requirements
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NewsBikmo partners with Blike for bike leasing fleet customers
The specialist insurer has ‘seen a shift in the bike sector from ownership to leasing’, says chief executive
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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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NewsHalf of UK businesses could be underinsured – Aviva
The threat underinsurance plays to SME businesses has reached a ‘critical point’, says chief executive
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NewsFCA’s Consumer Duty provides relief for professional indemnity insurance brokers
The new rules can be used to ensure insurers ‘do not engage in sludge practices such as drawing out the time taken to pay a claim unnecessarily’, says policy and public affairs director
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NewsBusiness confidence in UK economy plummets – Aviva
The insurer’s latest report found ‘a veritable collapse’ in business outlooks
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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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NewsSuperscript enters growing drop-shipping market
By 2027, it is believed that the drop-shipping market is set to be worth £415bn globally
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NewsRenewable energy risk managers face choppy waters in 2023 – WTW
Taking several ‘important steps’ will ‘help’ and ‘protect’ firms in this market, says executive director of the Climate Markets and Investment Association.
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NewsSoaring PI costs causing law firms to close – Hazlewoods
Insurers were exiting or reducing their capacity in the ‘unprofitable’ market, says the firm
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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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NewsRansomware and cyber war wording innovation named in 2023 tech predictions – DAC Beachcroft
Cyber war endorsements could invite innovation, says the law firm
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NewsInsurance fraud saw 11.2% uptick in 2022 – Allianz Commercial
The insurer’s head of counter fraud says at ’each economic downturn, insurers usually see fraud escalate’
