Latest News – Page 378
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NewsLV= pays out £100,000 for Scottish flash floods
Since Wednesday, when the recent heatwave began to peter out, LV= has received nearly 150 claims for flood and storm damage
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NewsThe Big Question September 2020: Will insurers come out looking better or worse due to the FCA test case? Why?
The FCA test case saw eight insurers put to task in July in a hearing that lasted over a week, Insurance Times asked the industry whether insurers as a whole might look better or worse as it approaches the time for the court to reach its verdict
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FeaturesLondon Market sectors swerve direct Covid claims due to lack of non-damage BI extensions
For niche industry sectors such as energy and marine, the Covid-19 pandemic has exacerbated existing claims and informed future market fluctuations rather than had a direct impact on claim notifications. Insurance Times takes a closer look
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Online onlyMore woes for travel insurers and customers as Covid corridor to France shuts
Those travelling from France and a series of other countries will have to quarantine upon returning to the UK
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NewsBiba confirms redundancies due to Covid-19 pandemic
The trade body will lose five employees as part of the redundancy process
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News AnalysisBack to office transitions bring new risks and lessons to the insurance industry
Next month marks the return to offices for most staff in the insurance industry, but as the UK unwinds from lockdown, what risks should brokers be aware of in a post-pandemic world and will office life ever look the same again? Insurance Times investigates
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NewsHiscox Action Group celebrates legal agreement for single arbitration process
Three arbitrators will review four categories of policy around Covid-19 related business interruption claims
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IT InterviewZurich takes ‘track record of claims payment seriously’ as H1 earnings suffer Covid-19 hit
The insurer’s UK chief executive confirmed that its general insurance arm saw a £140m impact on earnings as a result of the coronavirus pandemic
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IT InterviewFCA’s test case has overshadowed insurers’ efforts during Covid-19 pandemic says ABI
The trade association’s director general accepts ‘that reputationally this has been a very difficult few months for the industry’ in light of the FCA’s test case against insurers around the clarity of business interruption policy wordings
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NewsCounty Group buys Britannia Consultants Services in second acquisition of the week
County Group’s managing director said he is expecting to close a number of deals in 2020
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Online onlyCovid-19 claims push Zurich into the red
But new business and retention was up for the first of the year
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News AnalysisNeil Utley set for £70m windfall from Hastings sale
Former chairman and chief executive Gary Hoffman is also set to pocket £15m from the deal
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NewsThingCo aims to expand globally after tapping telematics veteran Martin Williams as new COO
With the telematics market making a comeback due to people’s driving behaviour changing over the course of the UK’s lockdown, Martin Williams ThingCo’s new board director and chief operating officer tells Insurance Times why it is the perfect time to roll-out Theo as the insurtech aims to go global
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Online onlyBriefing: Hastings seals a good deal
Hastings has enjoyed strong growth. But claims issues had been catching up with them. Going private works well.
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NewsCar claims on the rise, but may never return to pre-Covid levels says Admiral boss
Shifting consumer trends brought about by lockdown makes predicting claims cost and frequency more difficult
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NewsAdmiral profits surge as fewer lockdown claims slice chunk off combined operating ratio
Like its peers Hastings and Direct Line, Admiral has benefited from a fall in claims frequency during lockdown
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NewsPet insurance market profits as pandemic lockdown sees more new pet owners
The UK lockdown has caused an increase in new pet owners and subsequently a surge in new pet insurance policies being purchased due to the ongoing uncertainty of the pandemic
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NewsFSCS urges insurance industry to make ‘holding of clear customer data’ mandatory
In March, the FSCS revealed that it was still trying to trace 30% of Alpha customers after the unrated insurer’s collapse in May 2018. Now its chairman has specified his requirement for a data standard to be put in place for brokers and insurers
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NewsGresham Underwriting and Covéa enter new capacity partnership
The MGA is also seeking long-term partnerships with insurers in a bid to grow
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NewsLloyd’s Lab chooses ten insurtechs for fifth cohort specialising in Covid-19
It is only the second virtual Lloyd’s Lab to be run and this time the ten selected insurtechs will focus on pandemic solutions
