Risk Management – Page 60
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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
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News AnalysisBriefing: Commercial brokers must build cyber cover confidence to avoid ‘lazy broking’
Are brokers sufficiently equipped to have well informed cyber insurance discussions with clients or are they ‘doing a very poor job on the whole’?
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NewsFCA highlights focus areas for Consumer Duty implementation
The multi-firm review from the regulator ‘should be of real concern to the industry’
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News AnalysisThe Big Question January/February 2023: How can insurance firms help SMEs amid increased business insolvencies?
As UK business insolvencies spike due to tighter financial pressures, Insurance Times asks industry leaders about what firms can do to mitigate the risk
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NewsCustomers’ short-term decision-making due to cost of living ‘should be a concern’ for sector
Insurer’s UKGI chief executive thinks equipping brokers with ‘the tools to have the right conversation with their clients’ is key to preventing SME underinsurance
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NewsBrokers are ‘absolutely fundamental’ to risk management innovation - Andrew Griffith
The new economic secretary applauded brokers for ‘helping the sanctions to try and bring pressure to bear on Russia as it has pursued its illegal war in Ukraine’
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NewsPRA identifies improvement areas for GI losses
Some common gaps in data and modelling were also highlighted
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News AnalysisBriefing: Hybrid working creates opportunities - but the risks need to be understood
Brokers must understand the ramifications of the new working order to support both insurers and end clients
