Risk Management – Page 88
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FeaturesBiba seeks to extend signposting reach to improve access to insurance
Increasing amounts of data and the impact of the pandemic are making it ‘increasingly difficult’ for insurance seekers to obtain cover, adds committee chair
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FeaturesDriver education needed to reduce motor claims frequency and severity post-Freedom Day
Industry commentators debate how changing commuting patterns could impact motor claims
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NewsWhenFresh teams up with Bluesky to combat subsidence risk
WhenFresh chief exec says the firm continues to bring together best in class property data assets to empower insurers
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NewsAIG tightens cyber insurance limits as premiums climb
The insurer’s planned sale of its life and retirement business via an initial public offering is likely to happen in Q1 2022
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NewsAA shuts down concerns over lack of insurance for new E10 petrol
The move to E10 petrol is part of the government’s efforts to reduce CO2 emissions
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NewsBank of England confirms stress test to examine insurers’ cyber and climate risk resilience
The latest insurance stress test will be launching mid May 2022
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NewsHousehold water leak claims up by more than 30% for Q1 2021
Insurers are calling for clear standards for the plumbing industry to make sure contractors that fix water leaks are properly qualified
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NewsHiscox continues to take action on cyber products following ransomware surge
Human error is the ’biggest vulnerability’ when it comes to cyber attacks, says the insurer
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News Analysis‘More to be done’ by insurance industry alongside government’s ‘ambitious’ flood investment plan
Following the publication of the government’s Flood and Coastal Erosion Investment Plan last month, industry commentators explain what the report might mean for the insurance sector
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NewsSwiss Re concerned over increasing extreme weather risks following UK flash floods
Insured damage needs to remain as ’something that is exceptional rather than something that happens as a matter of course’ for the insurance industry to continue providing cover
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NewsZurich urges cross industry collaboration on AI risks and opportunities
There are few AI insurance policies that are commercially available and losses are not explicitly covered by traditional insurance coverage
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News AnalysisBrokers could play a ‘significant role’ in tackling ghost broking
As reported losses for ghost broking victims being higher for younger people who are often targeted via social media according to Action Fraud, brokers could play a crucial role in stamping out this crime
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NewsCII exposes cyber risk knowledge gap
The lack of knowledge around cyber insurance could result in mis-selling and poor customer outcomes, according to the CII
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News AnalysisRansomware surge could see cyber become next Covid-related crisis
Cyber-linked business interruption cover ’should be viewed as vital’ as research confirms that 17% of UK businesses have experienced more cyber attacks since Covid-introduced homeworking measures
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NewsRegulatory bodies hit financial services D&Os with fines in the millions – BLM
A lack of cover for regulatory fines creates ‘a double-edged sword’ for company directors and officers
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NewsMarkel UK and Cytora partnership set to accelerate profitable growth
The insurer aims to become a ’digitally enabled insurance company’
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NewsSubsidence claims increased by 49% in last year – LV=GI
The spike in claims was triggered by the increase in building surveys related to house sales, as well as significant heatwaves
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FeaturesBen Rose: Solving the issue of stacking in insurance
Stacking represents ’a massive problem to be solved by technology’ according to the global all-in-one reinsurance platform’s co-founder
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NewsBrokers could play a ‘crucial role’ as insurers brace for claims amid July flash floods
’Continuous real-time modelling’ is essential ’to generate effective early warnings for flash floods’
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NewsHouseholder and SME climate change concerns grow but action lacking – Aviva
Only 12% of SME owners have a business continuity plan that includes climate change risks
