Risk Management – Page 72
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AnalysisBriefing: Ukraine war aggravates claims inflation headache for insurers
Claims inflation was already biting, but now the consequences of the Russia-Ukraine war will add further pressure
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NewsPre-inception loss fraud upticks by 156% - LV=GI
The easing of Covid-19 restrictions is also triggering increased activity from organised crime groups
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NewsAround 800 UK accidental damage claims per year are dog-related – Aviva
Home insurance policies usually have exclusions for pet-related damage, including chewing, scratching and fouling
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NewsMarsh pulls all Russian business
The move comes alongside a condemnation of the ‘unprovoked attack’
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NewsInternational Underwriting Association reveals top systemic risks in technology evolution
Despite increased risks and other challenges, insurance firms are ‘stepping up’ to the challenge
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NewsSedgwick names new UK head of fraud technology and intelligence
The loss adjustor has saved clients more than £100m in fraud costs over the past few years
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AnalysisBriefing: Industry’s appetite proves it needs to improve its menu
Insurers’ lack of appetite for cyber and climate-related risks will see industry’s relevance nosedive in the eyes of customers
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NewsYoung renters struggle to afford cover amid financial pressures
UK general insurers therefore have a key role to play in preventing the decline of household penetration rates
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AnalysisCyber terror exposure fears at the heart of insurers’ reluctance to broaden cover
Wars now have the potential to be fought both online and offline. Insurance Times explores the industry’s appetite to cover terrorism or nation state cyber warfare risks
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NewsTrade credit insurers pull back from Russia and Ukraine
Some trade credit insurers will be adjusting their underwriting strategy
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NewsLloyd’s issues catastrophe warning amid sanctions move
Director of portfolio management says market must ‘price properly for the risks which are being borne’
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NewsGovernment to impose sanctions preventing UK insurers and reinsurers covering Russian firms
The European Union has adopted a similar stance
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NewsOver a third of UK firms agree its difficult to obtain affordable flood cover – FloodFlash
Businesses in the East Midlands are the most worried about flooding
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NewsAM Best takes negative rating action amid Russia-Ukraine tensions
The ratings will stay under review until the agency evaluates the severity of the situation
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AnalysisBrokers have a ‘key role’ following latest Scottish fire safety legislation
Five years on from the Grenfell Tower incident, and fire safety legislation is still being rolled out, the latest measure from the Scottish government, however, places brokers at the forefront of customer education
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NewsLloyd’s of London could face ‘sizeable’ hit from Russia-Ukraine war
Exposure to eastern Europe is likely to be ‘modest’ but classes such as energy could take a beating
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Sponsored ContentTravelers: Strengthening financial institutions against cyber risk
Smaller firms are more inclined to lean on silent cyber cover, says Walid Youssef, head of financial institutions at Travelers Europe
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NewsSimply Business partners with general insurer on third product launch
Strengthening offerings for the trade sector is ‘important’ while supply shortages continue to strike, says chief executive
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AnalysisIn Focus: Are broker schemes the answer to professional indemnity cover challenges?
Industry experts debate whether broker schemes could solve professional indemnity insurance’s (PII) woes after SchemeServe revealed PII schemes netted brokers the most income between 1 April and 31 September 2021
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NewsInsurance demonstrates it is ‘the shock absorber for the world’ in combating new risks
Event panellists also identify cyber risks as ‘the next systemic event that might hit’ commercial customers
