Fire claims down
Fire claims dropped almost 10% in the third quarter of 2001, the Association of British Insurers' (ABI) quarterly insurance trends review has revealed.
Fire claims in the s …
Fire claims down
Fire claims dropped almost 10% in the third quarter of 2001, the Association of British Insurers' (ABI) quarterly insurance trends review has revealed.
Fire claims in the second quarter were £286m, the highest quarterly gross incurred claims amount for fire since collation of the figures began.
They dropped to £258m in the third quarter.
Overall, total gross incurred claims amounted to £718m in the third quarter: 35% fire claims; 28% weather damage claims and 23% theft.
Domestic subsidence claims fell more than 19% from £72m to £58m.
However, weather damage claims were £201m, compared to £192m in the second quarter.
Fitch affirms rating
Insurance ratings agency Fitch has affirmed its rating on commercial and industrial property insurer FM Global. It cited the continued strength of FM Global's capitalisation after the 11 September terrorist attacks on the US as the reason for its AA -rating.
No noise at work
Health and safety consultancy LPMS said thousands of companies would have difficulty complying with the EC's draft directive on noise at work.
LPMS managing director Tony Hall said the directive would force employers to insist that staff wear ear protection.
"They run the risk of breaching health and safety regulations if the noise levels are too high.
"They could also face employment tribunals," he said.
Open+Direct deal
Premium finance operation Open+Direct is in talks with a top five insurer.
The Ulster-based company hopes to provide financing and administration on behalf of the insurer.
If successful the deal could bring in £100m of turnover. This would double Open+Direct's turnover.
