Insurers that have been pricing and reserving using a discount rate of between 0 to 1% may face a short term financial hit, analysts have warned.
Allianz has reaffirmed its commitment to its open platform initiative despite there being outwardly little progress in the 18 months since it was first announced the plan at the beginning of 2018.
Travel insurers will have to ‘signpost’ policies that have exclusions over pre-existing medical conditions.
The dual pricing noose is slowly tightening around the insurance industry’s neck. Its laudable attempts to escape from the regulatory hangman seem increasingly futile as the pressure is mounting on the Financial Conduct Authority to take action.
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Zurich disappointed in new #discountrate. David Nichols, Ch Claims Officer: "The failure to change the discount rate to a balanced level will only serve to increase the cost and, therefore, affordability of certain types of insurance - especially for higher risk customers." pic.twitter.com/ac1CfBzfxX— Zurich Insurance UK (@ZurichInsUK) July 15, 2019
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There is movement at the summit of our 2018 top 100 UK insurers. Find out who ranks highest in the Top 100 UK insurers in Post’s 2018 countdown, produced in association with AM Best.
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Post, in association with Tällt Ventures, indexes those that have the most potential to influence, change or disrupt the global market.