Insurer News – Page 149
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NewsFCA plans to use ‘full range of regulatory tools and powers’ to check insurers pay valid BI claims
Furthermore, the regulator recognises the ‘key role that insurance brokers and other insurance intermediaries’ play to ensure policyholders’ claims are progressed
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NewsZurich warns of ‘double disaster’ as Storm Christoph batters England and Wales amid pandemic
Storm Christoph has raged through England and Wales, adding further strain on the UK as it battles the ongoing coronavirus pandemic. Some insurance industry experts, however, have stepped in to offer support, advice and a solution
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News AnalysisSupreme Court BI ruling acts as ‘rude awakening’ for insurers
The ruling following the test case appeal at the Supreme Court will see insurers pay claims to businesses, as well as review policy wordings - but how have insurers reacted to the decision?
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NewsBetter technology in cars will not cause blanket claims inflation – Ageas
As more sophisticated technology becomes commonplace in cars, the cost of repair will fall in the long-term, predicts the insurer’s claims director
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News AnalysisSupreme Court decision is a ‘financial vaccine’ for struggling businesses
However, insurance premiums are likely to increase as ‘insurers seek to recoup some of their losses’
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NewsSupreme Court dismisses insurers’ appeals in BI test case ruling
Around 370,000 policyholders are expected to be impacted from the judgment
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NewsAmanda Blanc succeeded by Crawford’s veteran for insurtech chair
The insurtech’s new chairman has a history in loss adjusting and claims management which spans 35-years, he was previously at loss adjustor Crawford’s and Company
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NewsLiP portal delay is ‘rare bit of good news’ say insurers
Regardless of the launch date, there are still likely to be ‘teething problems’ – embedding the new system will therefore be a priority for insurers
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NewsGovernment pushes back LiP portal roll out to May 2021
Lord Chancellor says the delay is ‘a sensible and pragmatic approach’ considering the continued challenges arising from the coronavirus pandemic
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NewsOpportunity around green parts is ‘too big to miss’ says Ageas UK claims director
The impact of the Covid-19 lockdowns last year enabled green parts to step up to the plate and fill distribution gaps in repair supply chains
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NewsTravel insurance sector set to face more upheaval in 2021 warns IPP boss
The uncertainty that has accompanied the Covid-19 pandemic has put the travel industry into a huge amount of debt, and it could get a lot worse
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NewsEcclesiastical recommends preventative measures after gang sentenced for church metal thefts worth £2m
The gang of four men swiped lead from more than 20 churches over a two-year period
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News AnalysisCovid-19 pandemic sees more insurers exit financial failure insurance
As of January 2021, policyholders will not be able to renew financial failure insurance to comply with Package Travel Regulations, meaning they cannot trade. Insurance Times explores options for these customers and what brokers can do to help
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NewsPen Underwriting strikes capacity deal with Zurich for hazardous goods and tanker transportation
The five-year deal will see Zurich provide capacity for £165m worth of premiums
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NewsEngagement in the FCA’s BI court process ‘a good thing for the industry’ says Ageas claims boss
The insurer’s claims director believes the insurance sector has taken a ‘collaborative approach’ to dealing with the BI claim fallout arising from the coronavirus pandemic lockdowns
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NewsAXA to sell Greek operations for €165m
The move forms part of the business’s simplification strategy
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NewsCovid-19 pandemic impacts AXA’s underlying earnings
Despite the Covid-19 pandemic AXA said its “well positioned” as a group and remains resilient in these challenging circumstances
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NewsRSA improves underwriting profit by 33% for 2020 H1
The insurer added within its H1 trading results that although ‘business interruption coverages are not expected to be eligible for Covid-19 claims, there are a number of areas where claims are being paid’
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IT InterviewEtrading Q&A: Insurers need to up their game on the risks available via etrading says Allianz
Allianz’s digital trading manager says speed of delivery is a key area of improvement within etrading, but insurers also need to meet the demand to write more complex risks digitally
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IT InterviewEtrading Q&A: Insurers need to make it easier for brokers to get a fair representation of risk via etrade says NIG
Five star insurer NIG tells Insurance Times how it is using insights from our latest etrading report to tailor its proposition for brokers
