Claims
Lexis Nexis brings motor claims loss predictor to market
Data analytics firm Lexis Nexis have developed a new predictor of motor claims loss.
Development of Medco platform stalled by election
The development of the Medco platform is being stalled by the shelved whiplash consultation and the general election.
Ageas to use AI tech in motor claims handling
Ageas will use Artificial Intelligence in its motor claims handling, using software to assess damage based on pictures.
Running off captives in Luxembourg: How to recover the equalisation reserve
A treasure awaits those holding the keys for unlocking Luxembourg’s main assets within the insurance industry. According to the regulator’s latest annual report, reinsurers have built up €9.3bn (£7.8bn) in equalisation reserves in the country.
No plans to reopen legal challenge against shuttered North Korean insurer
A long-running legal dispute between North Korea’s state-run insurance firm and a group of reinsurers will not be reopened, even as the insurer’s assets were frozen by the UK government.
Blog: Insurers need to invest in handling subsidence claims
Insurers may not be saving that much money by cutting back on subsidence claims handling, notes Nick Turner, professional services director at Claims Consortium Group, arguing that triage and on-site inspections can help provide a smooth service and…
Claims aggregation: Joined-up thinking
The Supreme Court ruling in AIG has clarified the conditions under which claims can be aggregated, allowing insurers to reduce their exposure, but future cases will remain highly fact-sensitive
Reinsurance pricing won't turn this year, says Fitch
Reinsurance pricing is unlikely to change its course over the next year, with soft market conditions expected to continue and further pricing declines anticipated, according to Fitch Ratings.
ERS appoints ex-AA head of counter fraud
ERS has hired ex-AA head of counter fraud, Steve Gaywood, as the new head of counter fraud for the syndicate.
Legal Update: New technology risk in construction
Construction professionals using unproven technologies may inadvertently affect their professional indemnity cover if they fail to disclose all relevant information to their broker and to keep their insurer in the loop, warns Hannah Cane, partner and…
Plum Underwriting appoints Davies Group as claims partner
Plum Underwriting has appointed Davies Group as a claims partner across its e-traded household and let property business.
Slater and Gordon to make £600m claim against Watchstone
Slater and Gordon intends to make a £600m claim against Watchstone Group by the end of the month.
Claims Conference Hong Kong returns; Asia app launched
The fifth annual Claims Conference Hong Kong returns this week on 18 May at the Harbourview Renaissance.
ABI calls for dual rate for personal injury payments in Ogden rethink
The Association of British Insurers has suggested changes to the way the personal injury discount rate is set, calling for a dual-rate system for calculating lump sum payments in personal injury claims.
Horwich Farrelly to focus on defendant insurance work after closure of claimant arm Zest Legal
Horwich Farrelly has unveiled plans to shut its claimant legal arm, with the 42 staff impacted expected to be redeployed elsewhere in the business.
LMA calls for discount rate change
The Lloyd’s Market Association has called for major changes to the way the personal injury discount rate is set.
Blog: Automated claims aren't outlandish
Digital advances will allow insurers to automate smaller claims, predicts Graham Gibson, chief claims officer at Allianz, warning that technological agility and customer focus will be key to survival.
Cameron: Cyber crime solution needs insurance industry input
The insurance industry and the UK government need to work together on cyber crime and travel risks, former Prime Minister David Cameron said in his keynote address to the British Insurance Brokers’ Association conference.
Claims firm fined £400,000 for 100 million nuisance calls
A claims management company has been fined a record fine of £400,000 for making over 100 million nuisance calls.
Zurich’s Guy Miller on why recovery is an opportunity for reform
A synchronised global recovery is an opportunity for reform, not for complacency, argues Guy Miller, chief market strategist and head of macroeconomics, Zurich.
Biba 2017: GDPR will not have drastic effect on cyber insurance
The General Data Protection Regulations will not have as big an effect on cyber policies and the regulator may not enforce it as strictly as expected.
Q&A: Rob Flynn, More Than
More Than relaunched last week with a new advertising campaign featuring fictional Scandinavian founder Mordenn Surenns. Real-life boss of More Than Rob Flynn talks about the developments behind the scenes at the direct insurer.
Broker: Feeling exposed?
Many brokers’ professional indemnity policies contain exclusion clauses that limit their cover, leaving them and their customers exposed
Perils estimates Cyclone Debbie costs at A$1.12bn
Zurich-owned catastrophe modeler Perils has estimated the insured property market loss from March's Cyclone Debbie is A$1.12bn.