All articles by Katie Scott – Page 64
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NewsAviva and Zurich UK among insurers contributing to new industry-wide coronavirus support fund
The fund is supported by members from the ABI, Biba, Lloyd’s and the London Market Group
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NewsBrokers should be careful declaring cover for Covid BI claims
Brokerbility’s chairman further notes the ‘unintended consequences of sloppy underwriting’ and ’boilerplate clauses’ contributing to brokers’ headache around navigating rejected BI claims
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NewsHiscox Action Group has ‘good chance’ of succeeding with legal action
The group’s law firm is planning to launch an expedited arbitration claim against the insurer in the next few days
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IT InterviewClaims is on a ‘big journey’ to catch up with digital revolution says AXA’s Malik
The claims managing director believes the use of data and analytics has been exhausted in pricing, and should instead be used to enhance the customer experience
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NewsFCA invites brokers and policyholders to contribute to BI legal declaration process
Insurance intermediaries have until 20 May to submit materials to the regulator
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FeaturesFraud Charter: Lockdown home working increases risk of insider insurance fraud
Industry leaders discussed how to stamp out insider fraud opportunities brought about by remote working at Insurance Times’s virtual roundtable
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FeaturesFraud Charter: Insurers need to engage with supply chain to avoid fraud temptations
Industry experts are seeing prolonged credit hire periods and fumigation charges within the motor insurance supply chain as a result of the coronavirus pandemic
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NewsAirmic calls on insurers to ‘look favourably on grey area claims’
The trade association believes the ‘interpretation of wording regarding the pandemic’ could cause friction for insurers’ relationships with corporate clients
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NewsFCA orders insurers to support customers in coronavirus-related financial hardship
The range of measures proposed by the regulator are effective from 18 May 2020
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NewsGovernment launches temporary reinsurance scheme to facilitate access to trade credit insurance
The initiative aims to help businesses recover from the economic shocks of the Covid-19 pandemic
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NewsAXA sees 60% decline in commercial and retail motor claims since coronavirus lockdown
The insurer’s claims managing director also reports a ‘spike’ in travel and business interruption claims related to the Covid-19 pandemic
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FeaturesCyber cover is ‘modern-day crime policy’ as criminals switch from physical to digital
Insurance Times explores the relationship between cyber cover and traditional crime policies, looking at how these insurances can work together or where there may be gaps in cover
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NewsAllianz appoints chief risk officer from within the business
The permanent appointment follows a stint on an interim basis
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NewsSRA confirms law firms can apply for professional indemnity extension due to Covid-19
Lawyers struggling to secure professional indemnity coverage in light of the pandemic can apply for extra time
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NewsMotor insurers sent 80% fewer new work instructions to UK body shops in April
Last month, the net average repair cost estimation also reached a two-year high of more than £2,000
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IT InterviewInsurance market is on the back foot in dealing with Covid-19 pandemic says law firm partner
Insurers and brokers need to move past the crisis management phase and think of future solutions to mitigate pandemic risks
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FeaturesFraud Charter: May 2020
Industry experts attending Insurance Times’s virtual roundtable agree that application fraud is on the up as consumers look to reduce premiums in any way they can, due to coronavirus-related financial hardship
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NewsFlood Re ‘needs tweaking’ says Biba executive director
The trade association says there needs to be better collaboration with software houses as well as a ‘build back better’ mentality
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NewsBiba flags 19 coronavirus-related issues on behalf of brokers
The trade body collated top broker concerns surrounding the Covid-19 pandemic, such as unoccupied property clauses, renewal extensions and insurer risk recommendations
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NewsBiba supports Pandemic Re proposition as ‘insurance can’t cover everything’
The trade body’s executive director labels the coronavirus pandemic as a fundamental risk, alongside war and nuclear contamination
