Claims
Hiscox and action group arbitration to commence following court agreement
Hiscox has agreed to an expedited arbitration process in its dispute with the Hiscox Action Group, a coalition of policyholders that is contesting the insurer’s rejection of coronavirus-related business interruption claims.
Claims Apprentice 2020: Episode six - the interview
With the individual and team tasks now completed, it is time for the five remaining candidates to reflect on them as they sit down with Suzanne Liversidge, sponsor Kennedys’ own Alan Sugar.
Analysis: The serious injury claims cycle under Covid-19
While the serious injury claims cycle faced delays during the start of the pandemic, time pressures are now “easing” as care providers find ways to adapt.
Blog: Discount rate consultations - what do insurers need to consider?
The legal and political landscapes across the United Kingdom and Republic of Ireland vary considerably and no less so when it comes to the personal injury discount rate. With negative (and different) discount rates and methodologies adopted in both…
Admiral facing 'difficult call' on claims frequency and inflation
Admiral has said it faces a “difficult call” with regard to whether or not claims frequency will return to pre-pandemic levels this year, reporting that it saw a 3-4% increase in road accidents last week alone.
Claims Apprentice 2020: Episode five - Cyber challenge
With the country in Covid-19 lockdown the five remaining apprentices are given their latest task through the means of video conferencing.
Wales flood claims volume low so far as UK braces for storms
Loss adjusters are on standby following flooding in parts of Wales yesterday, as the Met Office warned of storms across the United Kingdom.
UK property pricing up 16% in Q2: Marsh
Global commercial insurance prices rose 19% in the second quarter of 2020, research by Marsh has revealed.
Beirut marine and port insured losses should not exceed $250m, says Guy Carpenter
The combined hull, cargo and port facility insured losses from last week’s warehouse explosions in Beirut should not exceed $250m (£191m), according to an initial analysis by Guy Carpenter.
Analysis: Returning the dead to rest – a pandemic repatriation problem
With air traffic grounded and sweeping restrictions halting travel during the Covid-19 pandemic, insurers have faced up to the sometimes impossible task of returning policyholders' remains to their home countries and families.
CII teams up with UEA to promote insurance careers
The Chartered Insurance Institute has joined forces with the University of East Anglia to help students develop a career in insurance through a programme that includes substantial savings on CII qualifications.
Watchstone launches £63m claim against PWC following S&G settlement
Watchstone, formerly Quindell, has filed a £63m damages claims against PWC, alleging the firm breached contract and opened an “unauthorised and illicit” channel of communication with a corporate finance adviser to Slater & Gordon in relation to the 2015…
Analysis: Beirut blast – cost of humanitarian crisis could top $10bn
The explosion in Beirut, Lebanon at around 6pm local time on Tuesday 4 August tragically killed at least 157 people and wounded another 5000, with more than a hundred still missing as rescue efforts continue.
Second quarter performance pushes Ageas UK COR below 100%
Ageas UK has reported a post-tax profit of £22.8m for the first half of 2020 reversing a loss of £2.7m in the first quarter.
Beirut explosion unlikely to produce Tianjin-scale insured losses
The warehouse explosion in the port area of Beirut on Tuesday is unlikely to lead to insured losses on the same scale as those that followed a similar incident in China in 2015, industry figures have said.
Claims Apprentice 2020: Episode four – Insurtech challenge
With Team KDA emerging as the winners of the podcast challenge, the apprentices now move onto their next task.
Amanda Blanc promises to shake up Aviva
It is abundantly clear that “meaningful change” is needed to unlock Aviva’s potential, according to CEO Amanda Blanc.
Blog: Coronavirus, or how I learned to stop worrying and love the hardening market
A hard market is traditionally where specialist insurers and forward-thinking capacity providers thrive. As such Floodflash co-founder Ian Bartholomew is confident new resilient insurance businesses will emerge from the post-pandemic economic downturn
Sampo and RMI bid a ‘real vote of confidence’ in UK insurance, says Hastings CFO
The takeover offer from Finnish insurer Sampo and South African financial services firm Rand Merchant Investment holdings is a ‘real vote of confidence’ for UK Insurance, Hastings chief financial officer John Worth told Post as Hastings released its…
Axa offers £50 compensation after walking back BI cover confirmation
Axa has offered a UK policyholder £50 in compensation after rejecting a business interruption claim it had initially indicated would be covered.
Analysis: Legal expenses insurers: Rising to the challenge
Legal expenses insurers saw at least double-digit increases in call volumes as the government moved to combat the outbreak of the coronavirus by locking down the UK. Providers rose to the challenge and believe they are well placed to meet any further…
Direct Line open to acquisitions and partnerships: CFO Tim Harris
Direct Line Group remains open to inorganic growth from acquisitions and partnerships despite the Covid-19 impact, DLG chief financial officer Tim Harris has confirmed.
AIG adds $458m of Covid-19 losses in Q2
AIG reported an underwriting loss of $343m (£262.8m) for general insurance business in the second quarter of 2020.
FCA warns of action on BI claims deductions
The Financial Conduct Authority has warned insurers making deductions to non-damage business interruption claim payments based on government payouts that it will intervene if firms do not meet its expectations and treat customers fairly.