Financial – Page 20
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NewsCustomers’ short-term decision-making due to cost of living ‘should be a concern’ for sector
Insurer’s UKGI chief executive thinks equipping brokers with ‘the tools to have the right conversation with their clients’ is key to preventing SME underinsurance
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NewsUK car insurance premiums soar by 19% in 2022
Insurers should be doing more to help consumers during difficult times, says chief executive
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NewsPRA identifies improvement areas for GI losses
Some common gaps in data and modelling were also highlighted
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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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NewsBiba launches 2023 manifesto with focus on risk management and stability
Executive director confirms that ‘stability is a key message’ that the trade association wants to bring ‘forward this year’, with focuses on regulation, financial resilience and enabling economic growth
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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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NewsBusiness confidence in UK economy plummets – Aviva
The insurer’s latest report found ‘a veritable collapse’ in business outlooks
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News AnalysisBriefing: Cost of living crisis causing spike in accidental damage claims
The propensity for homeowners to submit accidental damage claims has increased as household budgets have been squeezed – but the industry must be alive to opportunistic fraud risks
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NewsCost of living crisis causes 43% of insurance customers to cancel policies when seeking to cut cover costs
Head of consumer strategy queries whether the industry is doing enough ‘to be the safety net that newly financially vulnerable customers really need’
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News AnalysisIn Focus: Is high net worth cover ‘too generous’ for clients?
Broker leader reveals potential ‘recipe for disaster’ from having ‘underpriced’ premiums and ‘too good’ cover in the HNW market
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News AnalysisBriefing: Emerging risk must be the responsibility of all
Insurance sector must ‘stay curious and think ahead’ to cope with emerging risks, rather than simply passing the buck to other industries
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NewsOpportunity for legacy firms to ‘up their game’ as consumers seek stability – Solaris
Embedded insurance is one way to meet this demand, although it comes with challenges
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NewsStephen Kennedy: Firms ‘won’t be bored in 2023’ with general insurance pricing
Pearson Ham’s director of insurance pricing states that a ‘fine balance needs to be struck between inflation, competition, demand and growth’
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NewsDirect Line navigating further motor claims inflation
The insurer noted that claims inflation remains a feature of the market
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NewsDirect Line predicts home and commercial lines claims of £90m
The insurer has scrapped its final dividend for 2022 but has assured shareholders of its intention to restore balance sheet resilience
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NewsFCA proposes updated guidance to support insurance customers in financial difficulty
The regulator is aiming to solidify its stated support for consumers struggling with the cost of living crisis, says executive director for consumers and competition
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News AnalysisCost of fraud set to ‘snowball’ in 2023
Counter fraud experts say that the continuing cost of living crisis and economic turmoil in the UK will increase the danger of opportunistic fraud
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News AnalysisBriefing: Risk landscape reveals that industry still faces new year uncertainty
This month is pivotal for the insurance sector, however many questions remain
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News AnalysisBriefing: Looming recession spells further bad news for insurers
A swirling storm of tough economic issues promise to create a difficult start to the year
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News AnalysisBriefing: No new year joy for insurers as reinsurance renewals deliver little comfort
Predictions of a decline in the market’s reinsurance capability seem to have been well founded, says broker chief executive
