Latest News – Page 365
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Breaking NewsStructural defects insurer enters administration as FSCS steps in to save policyholders
Buildings guarantee insurer has been struggling with the volume of high-value claims in recent months
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News AnalysisCourt of Appeal ruling could have insurers revisiting their reserving for personal injury claims
Although the court may have rectified a ‘clear injustice for many disabled claimants’, the insurance industry will now have to pick up the price tag for additional accommodation costs in serious personal injury cases
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NewsGovernment calls for evidence in Pool Re review
It will run for six weeks, ending on 22 November 2020
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NewsBusiness growth remains top priority for insurance CFOs despite pandemic – EY
The pandemic has made business planning ’more important than ever before’ for insurance CFOs
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NewsAirmic’s chief exec to step down
The leader has been at Airmic for a total of eight years after starting out in a position on its board; a successor will take over as chief executive in 2021
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IT InterviewIndustry-wide focus on inclusion ‘does tell a different story about our sector’ says ABI’s Evans
Following the business interruption insurance backlash surrounding the FCA’s test case, the ABI’s director general believes the sector’s recent focus on diversity, inclusion and mental health can help mitigate insurers’ reputational damage
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IT InterviewMGA Q&A: Midas Underwriting says home working may become ‘long-term strategy’ post Covid
Insurance Times catches up with Andy Baughan, chief executive for personal lines at Midas Underwriting, to find out how the MGA has reacted to the coronavirus pandemic as well as what it has up its sleeve for broker partners…
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NewsInsurance industry takes ‘more holistic view’ to preservation of the building versus life
Using timber within construction is a greener solution for the environment, despite it being combustible and - in turn - higher risk. However, since the insurance industry is now taking a ’more holistic view’, should it also start thinking ‘out of the box’ to address these risks?
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NewsMost insurance CFOs planning to automate 5-20% of finance controls – EY
Automating financial controls could save insurers money and make room for more complex tasks, says EY
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NewsOpportunity for specific Covid-19 cover as SMEs fear business losses says data analytics firm
Commercial insurers may be affected as business owners could have a reduced budget for insurance if they are struggling for custom amid coronavirus recession
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NewsInsurance industry ‘needs to step up its efforts’ around diversity and inclusion
At the ABI’s first virtual diversity summit event, industry professionals and allies took on difficult conversations around black inclusion, highlighting what the insurance sector is doing to increase diversity
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IT InterviewMGA Q&A: Geo Underwriting continues to expand
Geo Underwriting’s chief commercial officer Nick Sharp speaks to Insurance Times about why it’s an exciting time during the MGA’s journey and how it has responded to the Covid-19 pandemic
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IT InterviewGeobear – the tech firm cutting the insurance industry’s subsidence claims costs by 20%
Subsidence claims are lengthy and expensive to solve, however Geobear is working with the insurance industry to reduce costs and cut claims down time by 70%
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NewsABI’s Huw Evans says BI test case appeal is ‘unsurprising’
The association’s director general believes the resulting judgment ‘could impact insurance for the next decade’
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NewsFlood Re’s credit rating upgraded
Credit rating agency maintains that the reinsurer’s ability to handle large claims warranted an upgrade
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FeaturesBroker Scheme Focus: Should brokers take some responsibility for customers with unpaid Covid BI claims?
Insurance Times gets different perspectives on whether scheme brokers should share the blame when it comes to unsatisfied business interruption customers left with unpaid claims due to the coronavirus pandemic
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NewsInsurers need to ‘get to grips’ with timber to progress construction’s net zero targets
Brokers can play a key role as educators to support the construction sector to use more timber in a bid to reduce carbon emissions
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NewsCII appoints Aon UK chief executive as new president
At the professional body’s annual general meeting today, the CII also confirmed a new deputy president
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NewsA-Plan snaps up telematics broker, with more acquisitions in the pipeline
A-Plan Group has made its first purchase since announcing its takeover by Hyperion
