Covid-19 – Page 14
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NewsBI insurance claims payouts nearing £1bn but ‘it should have been more’
According to the FCA, 15,400 policyholders with BI claims approved are still waiting for business interruption payouts
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NewsCovid-19 drives underwriting losses of £2bn for Lloyd’s market – Insurance DataLab
’Financial pressures will continue to affect businesses’ as the world’s economies emerge from the pandemic, according to Insurance DataLab’s Matt Scott
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FeaturesInsurance industry witnesses ‘large drop in appetite for terrorism cover’
While some companies are ‘burying their heads in the sand’, there is an opportunity for brokers to ‘play a critical role in educating their clients’, adds Burns and Wilcox head of terrorism
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NewsInsurers have paid £968m in interim and final BI claims payments so far
The FCA calculates that 26,238 policyholders out of 41,666 who have had BI claims linked to the test case action accepted have received at least an interim payment so far
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News AnalysisGhost broking continues to be a ‘substantial problem’ for the industry
As the IFB warns new and younger drivers about bogus car insurance policies, Insurance Times finds out what this means for the industry
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FeaturesBiba seeks to extend signposting reach to improve access to insurance
Increasing amounts of data and the impact of the pandemic are making it ‘increasingly difficult’ for insurance seekers to obtain cover, adds committee chair
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NewsABI and ACSO statement of intent for faster claims processing expires
ACSO executive director says that it was always intended to be temporary - many of the practices have now become ‘business as usual,’ however
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NewsWoodgate and Clark reveals mammoth surge in BI claims
The huge increase in cases has proven to be a ‘game changer’ for loss adjusting
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NewsZurich bounces back from pandemic with best underwriting result in years
UK boss Tim Bailey says insurer did ‘incredibly well’ amid pandemic challenges
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NewsAllianz Holdings’ 2021 half year results still showcasing Covid ‘ups and downs’
Chief exec compares fleet and pet insurance revenue figures to demonstrate pandemic impact
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NewsFewer motor claims drives strong H1 net result for Ageas
The insurer’s chief executive says there is a ’pressing need’ to recognise the market-wide pressures and uncertainty in the motor arena
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FeaturesDriver education needed to reduce motor claims frequency and severity post-Freedom Day
Industry commentators debate how changing commuting patterns could impact motor claims
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NewsIrish insurer expects Covid BI claim payments to hit €183m
The High Court in Ireland ruled against FBD in February
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NewsLV=GI boss has ‘never seen anything' as 'substantial' as FCA pricing reform
Preparing for the incoming regulation changes comes alongside “teething problems” with the Official Injury Claim portal, chief exec adds
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NewsInsurance industry backs government’s live event reinsurance scheme in partnership with Lloyd’s
Several syndicates in the Lloyd’s market, including Arch, Beazley, Dale Underwriting, Hiscox and Munich Re, are supporting the initiative
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IT InterviewAndrew Johnston: Lots more investment looking for a home labelled ‘insurtech’
Willis Re’s global head of insurtech tells Insurance Times why he expects funding in this sector to increase and why the term ‘insurtech’ could lose its value in the long term
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IT InterviewBronek Masojada: ‘Getting the basics right’ is how industry will boost reputation post-BI test case
Paying outstanding BI claims remains one of the chief exec’s ‘personal priorities’ this year, however chairman adds that ‘appropriate pandemic exclusion terms’ are now in place for Hiscox’s BI book
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NewsMotor insurance premiums fall by £38 in 2021’s H1 to reach a new five year low - ABI
Consumers paid £430 for a comprehensive motor insurance policy in quarter two of 2021
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NewsHastings Group records profit before tax of £76m for 2021’s H1
Live customer policies have improved 4% year-on-year to reach 3.1 million by the end of June
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NewsLegal and General boosts dividend after operating profits total £1,079m in H1 2021
The insurer will be returning £309m to its shareholders in September
