All Insurance Times articles in Issue December 2016
View all stories from this issue.
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NewsLawyers fail to reach agreement in Gallagher court order against MGA
Mrs Justice Slade said her judgement was unlikely to produce the “perfect order”
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NewsPet insurers pay out £657m in claims
The more unusual pet insurance claims included a python who needed treatment for anorexia at a cost of £200
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This WeekAnalysis: Claims reform like ‘using sledgehammer to crack a nut’
Fraud Charter members hear that latest proposals to limit whiplash claims could drive up insurers’ cost and leave genuine whiplash sufferers without proper court representation
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AgendaSimply Business hackathon creates ‘Tinder for insurance’
Simply Business has created an app that allows commercial insurance customers to swipe through a short question set to generate an indicative quote. The product, internally named Swipe Me, is only at an early conceptual stage, but is already basing its user experience on the Tinder ...
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Online onlyUnimpressed consumers reject 'connected home' transition
Most consumers are unwilling to buy smart home technologies and lack interest in the ‘Internet of Things’, a new survey has found. PricewaterhouseCoopers (PwC) found that 72% of people surveyed were reluctant to adopt smart home technologies such as smart heating systems, renewable energy devices and ...
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Online onlyAdmiral adds 'Airbnb' cover to home policies
Admiral has launched home sharing cover as an option on all of its home insurance policies. The cover protects those looking to rent their home through home sharing sites such as Airbnb, Wimdu and Homestay. Policyholders can rent their homes out for up to 90 days ...
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Online onlyL&G reportedly lines up Whitehall mandarin as new chairman
Legal & General is lining up a senior Treasury civil servant as its new chairman, the Daily Mail reported. John Kingman, who is acting permanent secretary at Number 11 and played a key role in the bank bailouts during the financial crisis, is said to be ...
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Online onlyLiability claim notifications four times higher than pre-recession
UK professional and management liability insurance claim notifications have risen steadily over the last decade and remain four times higher than pre-financial crisis levels, according to a report by Marsh. Marsh, a global insurance broker and risk advisor, recorded that on the onset of the financial ...
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AgendaAlmost two thirds of firms don’t have cyber insurance - survey
Nearly 64% of firms don’t have any cyber insurance, according to research by email security company Mimecast. The survey of 436 companies found that almost half (45%) of firms are unsure whether their cyber insurance policy is up-to-date. The research also found that 10% of companies ...
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AgendaInsurers lack a ‘culture of innovation’, research says
Half of the members of risk managers’ association Airmic believe their insurers are “hardly innovative” or “not innovative at all” in developing relevant cover, according to research by Airmic. The report highlights that only 1% of Airmic members view their insurer(s) as “highly innovative”, and that ...
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AgendaAllianz to offer cyber consultation after new deal
Allianz has partnered with IT Governance, a global cyber security consultancy, to offer free online cyber risk assessment. The tool is designed to help businesses protect themselves against a potential cyber attack. Allianz’s commercial policyholders will receive a tailored cyber security improvement report through an online ...
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Online onlyABI warns on transparency of broker commissions
It is “only a matter of time” before regulators force greater transparency of broker commission, according to the ABI. Speaking at the Birmingham Insurance Institute on Wednesday, ABI director general insurance policy James Dalton questioned if it was fair that commercial customers had to ask brokers ...
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Online onlyDAC Beachcroft launches hub to boost insurance innovation
DAC Beachcroft has set up Innovations Lab to promote technology processes and products to a reluctant insurance industry. Speaking at the launch event, DAC Beachcroft Claims Solutions Group chief executive Craig Dickson (pictured) said that there are daily calls for the insurance industry to be more ...
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Online onlyFSB presses government to contribute more in cyber crime fight
The Federation of Small Businesses (FSB) is urging the government to make cyber insurance compulsory for small businesses. The FSB said that the government must consider making cyber insurance compulsory for businesses above a certain size or in high-risk sectors after internal research found only 6% ...
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AgendaInsurance force Lord Leach dies
Lord Leach, former deputy chairman and non-executive director of JLT Group, has died aged 82. Lord Leach was chairman of Jardine Insurance Brokers, latterly JIB Group, between 1988 and 1997. He was appointed deputy chairman of the company in February 1997. He was awarded a life ...
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Online onlyCustomers should push industry to reinvent itself – KPMG
Customers should be the “inspiration” for insurers to reinvent themselves, after KMPG research found insurers focus more on complying with new regulations instead. The report says insurers are failing to adapt to changing customer needs and technology, with 57% of executives admitting that efforts to transform ...
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Online onlyUK homeowners throw £37m a year into auto-renewal black hole
UK homeowners are “tricked” into collectively wasting £37m annually by allowing their home insurance provider to automatically renew their policy, according to MoneySuperMarket research. The analysis says one-quarter (26%) of homeowners with buildings and/or contents cover automatically renewed their policy with their existing provider and almost ...
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Online onlyinet3 unveils non-standard property Flood Re solution
Inet 3, a specialist property managing general agent (MGA), has launched its Flood Re solution for non-standard home risks. The launch was supported by a new broker learning hub designed to assist brokers with product knowledge and competency through an online, tailored training programme. Inet3 brokers ...
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AgendaCovéa Insurance addresses homeworking with re-launched product
Covéa Insurance has re-released of a product, with an add-on including a policy designed to meet the demands of executives who run a business from home. The re-launch of Covéa’s Sterling Executive Home product will raise cover limits and add new covers for mid net worth ...
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AgendaNew management for Allianz Global Corporate & Specialty board
Allianz Global Corporate & Specialty (AGCS) have announced their its chief underwriting officer. Paul O’Neill, 53-years-old, will oversee AGCS’s energy, marine, aviation and entertainment lines of business, with effect from October 1. O’Neill, who is currently AGCS’s global head of marine and energy, will succeed Bill ...
