All articles by Matt Scott – Page 3
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News
Phil Barton: UK broking is just like the Premier League, but that’s not a good thing
The chief executive said that the increasing EBITDA multiples being paid for brokers has damaged best practice while only lining the pockets of private equity firms and a select few lawyers and entrepreneurs
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News
Briefing: Will insurers be able to repair their tarnished reputations?
In the eyes of many policyholders the Covid-19 crisis has been yet another stain on the insurance industry’s already tarnished reputation. Deserved or not, insurers have much to do regain their trust By data insights editor Matt Scott
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Government unveils £10bn trade credit insurance backstop
Government to provide guarantees of up to £10bn to trade credit insurance for business-to-business transactions
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News
FOS complaints down 23% but Covid-19 issues still to filter through
The Financial Ombudsman Service received more than 32,000 complaints over the course of 2019/20
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News Analysis
Schemes Index reveals most profitable business lines for brokers
SME package schemes may have delivered the most commission for brokers, but will the Covid-19 pandemic change the broking landscape?
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News Analysis
Who is the highest paid insurance CEO? Find out here
Five of the leading bosses in UKGI took home more than £11m in total remuneration for 2019
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News
Insurethebox communications technology has prevented more than 1,000 accidents
Insurethebox has estimated that its Speed Reduction Programme has helped prevent 1,060 accidents, avoiding 34 serious injuries over the past four years
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News
Capsicum Re launches ransomware modelling solution
Flexible model enables both portfolio aggregation and attritional loss perspective through consideration of specific ransomware strains
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Lloyd’s gets green light for next stage of Brexit transfer plan
Lloyd’s of London has confirmed its Part VII strategy for telling customers that it is transferring the Lloyd’s market’s existing European business that will be affected by the loss of passporting rights from Lloyd’s members to Lloyd’s Insurance Company S.A. has been approved by the High Court.
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News
Universally paying BI claims not covered under policy terms would put insurer solvency at risk, says ABI
Replying to an open letter from Stephen Gould, chairman of the One Voice Group representing a coalition representing the beer and pub industry, Evans said the cost of such claims would run into the billions of pounds, and was something the insurance industry had not reserved for.
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Zurich reveals $750m of estimated coronavirus claims
But insists these remain within the insurer’s risk tolerance
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Lloyd’s set to pay out up to $4.3bn in Covid-19 claims
CEO John Neal said the coronavirus crisis “will challenge the industry as never before”
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News
Be Wiser joins Quotezone.co.uk’s van and home insurance panels
Be Wiser chief executive Sharon Beckett said it had been “easy” to align the goals of both companies
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News
Ageas falls to £2.7m loss after weather claims hit hard
The insurer reported an 11.7 percentage point worsening of its combined operating ratio
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News
RSA sued by dozens of investors following Irish under-reserving error
The shareholders accused the insurer of using its Irish division as a “cash cow” to support under-performing units in the wider group
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News
UK commercial rates surge 21% over Q1
The biggest increase was experienced in FinPro lines with average increases of 46%
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News Analysis
Supporting vulnerable customers – a great opportunity for insurers to rebuild reputation amid Covid-19 crisis
The coronavirus pandemic has lead to a surge in the number of vulnerable people in the UK, but new research from Consumer Intelligence reveals the crisis should be viewed as an opportunity to improve customer engagement and loyalty
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News
Insurance industry 'did not intend to underwrite pandemics', says RSA’s Hester
But the insurer is still paying claims when there is ambiguity in the wording
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Online only
Admiral back on top as Hastings slips down the rankings
Admiral UK has regained its place as the best underwriter in UK general insurance after reporting a market-leading combined operating ratio for 2019
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News Analysis
DLG reveals 70% drop in motor claims
And admitted that the coronavirus pandemic may have a knock-on effect on its cost-savings initiatives