Risk Management – Page 54
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NewsUK underinsurance crisis evident in 2022 - BCH
Buildings insurance valuation services company finds that for 75% of the instructions it received last year, the property in question was underinsured
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NewsJustice Committee requests evidence on impact of whiplash reform
The parliamentary committee wants to investigate the impact of governmental reforms
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NewsTelematics allows consumers to take an ‘active part’ in their risk profile – Redtail Telematics
The positive environmental impact of the technology can also help sell the concept to consumers, says chief executive
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NewsRisk managers note concerns over sensitive data stored by cyber insurers
Cyber underwriter CFC is adamant that it protects client data to a sufficient degree, however
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NewsReinsurers’ retreat leaves marine underwriters to sail alone in a sea of rising risks
Marine insurance trade association confirms the sector ‘has much work ahead’ if it wants to keep pace with ongoing challenges
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NewsFirms must brace for cyber threats as working from home compounds risk – Aon
A global shortage of cyber security skills is projected to continue in the next three years, according to the broker
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News AnalysisBriefing: Insurers debating ‘if they want to play’ in cyber market despite ‘huge protection gap’
With cyber cover premiums ‘up almost 200%’ in aggregate, cyber insurance could be a profitable area for insurers willing to dip their toes into constantly choppy and changing waters
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NewsConsumers with mental health conditions penalised when seeking insurance
Money and Mental Health Policy Institute has called on the FCA to stop firms from making pricing decisions ‘behind locked doors’
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NewsProperty and cyber markets must get on same page to prevent cover ‘gap’ for cyber-related physical losses
Confusion around cyber exclusions may have stemmed from Lloyd’s clampdown on clearly defining physical and intangible risks
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News AnalysisBriefing: Resilience partnership may point to the future of insurance
Insurers investing in Covid-related research projects could be looking to reduce the long-term costs of future risks
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NewsMarkerstudy-owned firm aiming to ‘transform’ commercial fleet safety with AI proposition
The technology could cut claims costs by £2,000 per detected claim
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News AnalysisInsurers urged to take a fresh approach to solicitors’ PI amid growing coverage concerns
Conveyancing remains a claims risk area amid today’s recessionary environment, however insurers’ appetite to provide solicitors’ PI cover is growing for firms that present a good risk
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NewsGreen shoots of insurance growth will take time to bloom – EY
“Insurance demand is among the first to be impacted” by rising cost of living, says UK insurance lead
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NewsUK inflation will increase the need for gig economy insurance – GlobalData
Education among consumers is needed, however, due to the widespread belief that this cover is provided by employers
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NewsCompany market outlook for 2023 becoming progressively worse – Fitch Ratings
The firm highlighted that one path to gaining capital is turning to higher investment returns
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IT InterviewGraham Gibson: Claims ‘crescendo moment’ set to reach climax in 2023
The current ‘perfect storm’ of macroeconomic conditions could lead to an increase in fraud, arson and claims costs, says insurer’s chief claims officer
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News AnalysisBriefing: Brokers are looking for silver linings in economic storm clouds
Macroeconomic conditions are still tough, but it’s time for brokers to roll up their sleeves and embrace the opportunities this could present
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NewsConstruction sector requires support from insurance firms in UK’s net zero transition – UKGBC
Risk perception around a secondary materials market needs to be addressed, says the council
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IT Interview‘There is real value in insurers helping people get ahead’ of climate change-related risks – Aviva’s Adam Winslow
Plus, as the UK’s ‘power mix is changing’, Aviva is ‘looking at extending [our] renewables footprint’, noted the insurer’s UKGI chief executive
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NewsUK government scheme Cyber Essentials insurance is ‘appalling’ for SMEs
The National Cyber Security Centre’s initiative demonstrates both opportunities and obstacles for clients, say insurance industry leaders
