Covid-19 – Page 31
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NewsMore than a fifth of adults trust insurance firms less because of Covid-19
To rectify the negativity surrounding the business interruption test case and the resulting impact on trust in the sector, ‘there is clearly work to be done at an industry level’ says Sicsic Advisory MD
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NewsAccidental damage accounts for 48% of all new claims – LV= General Insurance
The insurer links this claim trend to the increase in home working and schooling, with drinks being spilled on technology such as laptops
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NewsRegulator warns capital markets will need to be part of future BI provision
The future provision of business interruption insurance is likely to require the use of alternative risk transfer solutions given the lessons learned from Covid-19
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NewsBuilding Safety Register reveals new manifesto
The Building Safety Register’s co-founder hopes the manifesto will provoke wider discussion over the implications of building safety for the insurance market, as well as highlight risk management measures
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NewsUK-EU insurance capacity relationships still required post-Brexit says Pro Insurance Solutions
Pro Insurance Solutions managing director Robert Buchberger tells Insurance Times that there is ”an ongoing desire to operate international schemes in commercial and financial lines”
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NewsSimply Business selects insurtech MGA as health insurance provider for new proposition
The first phase will see the insurtech unveil its health insurance plan for the self-employed
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FeaturesStandardisation: a route to greater transparency or ‘stifling’ for competition?
Standardising policy wordings may be considered a ‘dangerous road’ by some in the industry, but could some standardised elements support the push for improved transparency and policyholder understanding?
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NewsNearly half of bike insurance claims in 2020 were for theft – Bikmo
The average claim amount last year for bike insurance was £1,293 says specialist cycling insurer
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News AnalysisLockdown mitigates claims impact of Beast from the East II
Policyholders staying at home during lockdown are better able to combat potential escape of water claims resulting from the recent snowfall, but commercial clients may still be at risk following lockdown-induced business closures
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NewsBrit reports a 5.7% increase in GWP over 2020 despite $232m loss after tax
Group chief executive says there are ‘a number of indicators to give us cause for optimism’, regardless of the ‘significant’ financial impact of Covid-19
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NewsBe Wiser to consult with 280 staff over potential job losses
The move is to ensure the business is ‘ahead of the game and ready to make the most of market conditions when the market bounces back’ says broker chief executive
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NewsDemand for commercial property insurance quotes drops by 49% - Quotezone
High street takeaways were tipped as being the most resilient for this line of insurance
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IT InterviewStaying relevant is ‘the biggest, most interesting challenge out of this pandemic’ – David Howden
Plus, Howden Group’s chief executive believes the current hard market ‘will certainly sort the wheat from the chaff’
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Sponsored ContentInsuring the cure: brokers can thrive by offering specialist R&D cover – Travelers
Travelers senior development underwriter, Craig Mounser tells Insurance Times about the opportunities abound in insuring drug discovery companies for those who can appreciate the very specific risks involved, in a post-pandemic world this market is set to sky-rocket in value
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NewsZurich UK reports 73% drop in business operating profit due to Covid-19
The insurer’s property and casualty business also experienced a 75% decline in business operating profit, however gross written premium for this division grew by 11% year-on-year
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NewsSME BI insurance take-up hurt by Covid-19 claims fiasco, survey suggests
Insurers can benefit reputationally in the long run if they pay claims promptly, stresses GlobalData
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Features‘Testing times’ ahead for Covid-related employment liability claims
Industry voices believe a boom in employment liability claims is on the horizon. Insurance Times explores the Covid-19-related drivers behind the trend as well as what insurers and employers need to consider to mitigate claims
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NewsAllianz Insurance has issued BI claims pay outs on 75% of valid claims
At the end of January 2021, the insurer had made 1,832 interim and final BI claims payments
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FeaturesBriefing: Insurance firms must adopt a people-centric approach to beat ‘lockdown fatigue’
In the privacy of our own homes, it may feel like lockdown is never going to end. However, employers must be proactive in shooing away fatigue-focused thoughts if they want their businesses to succeed in the long-term
