All articles by Matt Scott – Page 6
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NewsCapsicum 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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NewsLloyd’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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NewsUniversally 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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NewsZurich reveals $750m of estimated coronavirus claims
But insists these remain within the insurer’s risk tolerance
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NewsLloyd’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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NewsAgeas 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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NewsBe 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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NewsRSA 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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NewsUK commercial rates surge 21% over Q1
The biggest increase was experienced in FinPro lines with average increases of 46%
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News AnalysisSupporting 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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NewsInsurance 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 onlyAdmiral 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 AnalysisDLG reveals 70% drop in motor claims
And admitted that the coronavirus pandemic may have a knock-on effect on its cost-savings initiatives
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NewsLancashire reveals $35m coronavirus claims for Q1
The insurer’s charitable foundation has also made a £100,000 donation to coronavirus causes
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NewsAllianz launches new claims hub for brokers
Portal provides end-to-end claims notification and tracking for brokers and fleet managers
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NewsHow The Temporary Kitchen Company Is Driving Down Alternative Accommodation Costs
The business is even helping out with the NHS response to the coronavirus pandemic
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NewsAdmiral’s premium refund “sets precedent” for motor market
Research firm GlobalData says move will help the insurer retain customers and market-leading GWP share
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Online onlyHiscox set to face legal action over BI claims refusal
The Night Time Industries Association has announced that it will be coordinating claims against Hiscox for its refusal to pay out under its business interruption policy
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News AnalysisProfits Exposed: Admiral, DLG and Esure rely on reserve releases for underwriting profit
Analysis of the 2019 financial results reveals the ways insurers make profit, and how their revenue streams have changed
