Latest News – Page 399
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NewsAviva names new chairman
Aviva has appointed financial services veteran George Culmer as its new non-executive chairman, succeeding Adrian Montague who steps down…
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NewsBeazley shares up 13% after £247m capital raise
The insurer’s share price responded well to the news, at one point rising as much as 13% on yesterday’s closing price.
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NewsAdmiral records 46% increase in bicycle theft over last seven weeks
Insurer Admiral has reported a 46% increase in the number of bicycle theft claims made over the last seven weeks, while Brits have been enduring the nation-wide Covid-19 lockdown, compared to the same period in 2019.
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NewsInsurers have ‘adequate buffer’ of capital to withstand pandemic shocks says credit rating agency
The agency’s report further highlighted reputational risk as a potential problem
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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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NewsCovid-19 heralds hardest of hard markets
Few classes are expected to emerge unscathed as markets harden in the wake of coronavirus
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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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NewsMGA to offer Covid cleaning service for offices
The service is aimed at reducing the risk of Covid-19 for staff returning to offices post-lockdown as well as making sure unoccupied properties are secure and checked
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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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Online only‘Our staff were absolute heroes’ - Brightside boss reveals motor broker’s challenge amid Covid crisis
Brendan McCafferty says crisis has shown how Brightside staff can be trusted
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NewsInsurance Times Awards 2020 open for entries now
With 18 awards open for entry including two new categories, don’t miss out on the opportunity to showcase your achievements as we return to London Grosvenor House to celebrate later this year
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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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NewsFraud Charter: Insurers preparing for Covid claims ‘explosion’
Claims management firms are gearing up to target coronavirus pay outs
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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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NewsDentist trade body mulls legal action against insurers for non-payment of Covid claims
The trade body for dentists said that the industry has been ’blindsided’ due to lack of effective responses from insurers
