Latest News – Page 308
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NewsEuropean windstorms caused £3,142m in insurance industry losses – Perils
The firm’s latest estimate would make the February storms the largest European windstorm loss since January 2007
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NewsE-scooter and e-bike lithium-ion battery fire claims spark losses of over half a million pounds – Axa UK
The insurer is warning commercial businesses and consumers of the risks associated with fires resulting from the electrically powered micro-mobility vehicles
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NewsInsurance becoming ‘ripe target’ for UK fraudsters as attempts up by 257% – TransUnion
Phishing was deemed the most common fraud scam
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NewsThe Ardonagh Group posts 170% increase in pro forma losses for H1 2022
The group also recorded a 21% increase in its adjusted ebitda for the reporting period, reaching a figure of £186m
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NewsThree ‘I’s that lead to underinsurance pose ‘real reputational risk’ for insurance industry
But brokers have a ‘real opportunity’ to showcase their value in the face of cost and supply chain pressures, says commercial lines boss
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NewsPool Re launches members consultation on suggested transition to treaty model
The reinsurer’s consultation will run until the end of October 2022
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NewsFraudster jailed following exposure of bogus car insurance claims for collisions and theft
Discovering one instance of fraud triggered Aviva to submit another referral to the IFED, highlighting a false claim which was previously missed by the insurer
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NewsBeazley receives ‘in principle’ approval to establish Lloyd’s Syndicate 5623
The insurer’s Smart Tracker will transition into a ‘full market-facing syndicate’ at the beginning of next year
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NewsStubben Edge Group snaps up Lloyd’s broker as it targets 1m live policies in 2022
The firm has also incorporated Guernsey-based 1Edge Insurance, with the aim of expanding the group’s capabilities for IFAs and brokers
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NewsProbitas’ Syndicate 1492 achieves COR of 78.5% in H1 2022
The Lloyds syndicate also grew its underwriting profit by 86% from the equivalent period last year
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NewsCNA Hardy bags ex-Axa XL chief as new director of risks
He has also worked for the likes of EY, Accenture and Deloitte in senior roles
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NewsRcapital Partners targets ‘significant’ scale-up with dual business buy
Montague Investment Group has taken a minority stake in the partnership as part of the deal
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NewsThunderstorms on the horizon heighten risk of flash flooding – Ecclesiastical
Insureds need to prepare for flash flooding as it can be quick and ‘hard to predict’, says risk management director
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NewsJensten Group buys High Wycombe-based broker and its subsidiary
The purchase represents Jensten’s fourth acquisition in a month
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NewsAdmiral enters pet insurance market
The launch forms a key part of the insurer’s ongoing strategy to diversify its business and respond to consumers’ needs
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NewsMCE promotes internally for new head of insurance partnerships
The appointee is ‘ready to hit the ground running’ in improving insurer relationships and broker experience
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NewsIrevolution Group builds out broker businesses with new special projects hire
The appointee brings an ‘abundance of experience’ to the role having held c-suite positions at the likes of Freedom Services Group
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NewsFire claims soar to £1.2m due to UK heatwave – LV=GI
One specific case was caused by a mirror in a garden reflecting off the sun and subsequently setting a wheelie bin alight
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NewsJohnson and Johnson to end all UK Baby Powder sales as ovarian cancer claims escalate
Despite this, the pharmaceutical firm says its talcum Baby Powder ’does not contain asbestos and does not cause cancer’
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NewsDrought to cause mayhem for UK insurers
Insurers should brace for weather-related claims as temperatures soar and drought is officially declared across parts of England
