Reinsurance for oil spill and reserves cover UK motor claims
QBE said that it has reinsurance to cover BP/Transocean Deepwater Horizon oil spill claims and adequate reserves for higher than expected UK motor bodily injury claims.
The Australian insurer has been forced to respond to market rumours after rival IAG announced its UK motor reserves needed topping up because of bodily injury claims.
QBE said it has “significant reinsurance protections in place” for the oil spill. IT said it had reviewed its claims reserves for its UK motor business and confirmed they “included an allowance for the anticipated higher bodily injury claims being experienced in the UK”.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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