Financial – Page 22
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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
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NewsCompass partners with premium finance provider
Network boss believes brokers must ‘be prepared against the unexpected’, with one possible solution being the provision of ‘more flexible payment options’ for clients
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NewsInflation tops concerns for insurance sector in 2023 – GlobalData
Over a third of insurance industry respondents to firm’s poll cited inflation as the standout challenge ahead of other issues such as digitalisation, climate change, regulation, Covid-19, cybercrime and geopolitics
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News AnalysisOpinion: Industry will need to continue to knuckle down in 2023
Editor Katie Scott summarises some of the year’s key challenges and what the industry may expect come 2023
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NewsMore than 40% of SMEs saw insurance premiums rise in last year – Premium Credit
Rising insurance premiums also influenced 9% of respondents to reduce the level of cover on their policy
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News AnalysisBriefing: Underinsured or underinformed?
Increasing numbers of business owners are underinsured for their commercial property – but is this an active decision, or has the insurance industry failed to properly communicate the risks of underinsurance?
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NewsAtec Group boosts revenue income by 28% in year to September 2022
The firm’s chief executive said that ‘this upward trend is set to continue, with solid plans in place to more than double the business again through organic growth over the next five years’
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NewsSMEs potentially priced out of cyber cover due to ‘ongoing issue’ of rising premiums
How insurers quantify cyber risks has to change in order to effect more stable pricing in the long term, says commercial director
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NewsRomero Group ebitda grows 38% for 2022
The independent broker also posted turnover growth of 24% for the year
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NewsEconomic challenges temper marine underwriters’ performance – IUMI
Secretary general reveals that marine ‘underwriters are navigating some highly complex issues’, despite ‘another positive year’ overall for marine insurers in 2021
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NewsCII reduces median gender and ethnicity pay gaps
However, a higher mean gender pay gap indicates that the CII’s ‘data is skewed’, according to HR director
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News AnalysisIn Focus: How can the insurance sector demonstrate the downsides of opportunistic fraud to end consumers?
Industry experts discuss the impact of low level fraud on end consumers and how best to communicate the resultant ramifications
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NewsManyPets hits £216m GWP in year to 31 March 2022
The MGA has invested in improving its claims journey for customers
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NewsDeteriorating outlook for UK insurers as inflation bites – Fitch Ratings
The UK insurance market is facing a deteriorating outlook for the year ahead as inflation and pricing rules weigh heavy on the market’s performance
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News AnalysisLoss adjusters must use ‘skill’ to ensure sums insured are correct amid inflationary pressures
Inflation has driven up the cost of building materials, impacting the claims sector – but loss adjusters have a key communications role to play to mitigate underinsurance
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NewsHome insurance premiums drop 7.9% in last six months – Consumer Intelligence
But London remains the most expensive region to buy home cover, with premiums still increasing compared to price drops across the rest of the UK
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IT Awards 2022Insurance Times Awards 2022: Premium Credit wants to create ‘opportunities through convenient payments’
Owen Thomas, chief sales officer at Premium Credit, tells Insurance Times why the firm deserves to win the Business Partner of the Year category at the 2022 Insurance Times Awards
