Financial – Page 34
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Sponsored ContentCost of living crisis is impacting insurance fraud – Carpenters Group
Donna Scully, director of Carpenters Group, explains how high cost of living expenses in the UK is affecting opportunistic and application fraud in the insurance sector
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NewsGreen shoots of insurance growth will take time to bloom – EY
“Insurance demand is among the first to be impacted” by rising cost of living, says UK insurance lead
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News AnalysisIndustry welcomes FCA review of FSCS thresholds to mitigate ‘unintended unfairness’
In December 2022, the FCA outlined its planned review of the FSCS compensation funding model – trade body says this could prove to be ‘very positive’ for brokers
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NewsInsurtech funding sees 57% dip in Q4 2022 – Gallagher Re
The UK was listed as one of seven countries for top insurtech investment in 2022 which was $200m (£162.6m) for this country
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NewsMoonrock Drone Insurance secures new capacity to cover non-standard drone operations
New backing enables the MGA to cover sums insured up to £20m and expand into Europe
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NewsCompany market outlook for 2023 becoming progressively worse – Fitch Ratings
The firm highlighted that one path to gaining capital is turning to higher investment returns
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News AnalysisBriefing: Could mass tech firm layoffs trigger ripple effect for insurtechs?
As more technology giants announce mass staff layoffs, could the insurtech sector see a similar trajectory?
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NewsInsureds prioritising cyber cover as they cut costs elsewhere
Business interruption insurance is one product that consumers are turning away from, says broker director
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News AnalysisTechTalk: Are insurtech staff layoffs the ‘quick and easy way out’ of post-pandemic capital conundrums?
While 2021 was filled with the creation of insurtech unicorns, 2022 saw sector-wide staff layoffs - and there could be more to come as inflation and the cost of living crisis continues to grip the market
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News AnalysisBriefing: Brokers are looking for silver linings in economic storm clouds
Macroeconomic conditions are still tough, but it’s time for brokers to roll up their sleeves and embrace the opportunities this could present
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NewsDLG boss’ decision to leave influenced by ’hostile’ market conditions
Following a predicted profit hit last year, however, DLG’s exiting boss believes the business will bounce back
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NewsHowden posts 19% organic growth in 2022 full year financials
The broker giant also revealed a 69% increase in ebitda to £565m
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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
