Claims
Insurers to pay out £130m for St Jude storm losses
The Association of British Insurers has revealed the industry is expected to pay out £130m to customers hit by St Jude’s day storm.
Pet Insurance: Paws for thought
The cost of pet insurance claims has skyrocketed in the past five years, prompting some insurers to withdraw from the sector altogether. How can those that remain respond to the difficult market conditions?
Brokers crucial to target sole trader underinsurance
Over 180,000 sole traders are operating without insurance, according to new research by LV Broker.
AA granted ABS licence
The AA expects to have its own legal services business up and running by the end of the year after being granted an alternative business structure licence by the Solicitors’ Regulation Authority.
Groupama and Ageas complete part VII transfer
Groupama has transferred 1.5 million policies and net assets of £160m to Ageas via a Part VII insurance business transfer.
Windstorm unlikely to impact UK insurers' performances, predicts AM Best
UK non-life insurers remain on course to post strong overall performances in 2013, despite last week’s windstorm, according to a report from AM Best.
EY: Household premiums likely to rise in 2014
Household insurance premiums are under pressure and likely to rise in 2014, according to EY.
Europe-wide Windstorm Christian losses could hit €1.3bn
Losses from a storm hitting Northern Central Europe could top €1.3bn according to latest estimates from Willis Re.
Questgates launches hub in preparation for seasonal surge
Questgates has upped its third party property damage response by launching a dedicated hub to help insurers manage a potential increase in workload over winter.
MOJ portal fails to stem rising legal fees
The costs of claims for private motor insurance rose by 7% last year despite a 15% drop in quoted premiums.
XL parts with claims head Lambourne
XL’s international P&C claims head Graham Lambourne has departed the insurer.
Energy laws may drive fake property claims says Crawford
Adjusting giant Crawford has warned that new rules on energy efficiency may drive landlords of vacant properties to make false property damage claims.
DAC Beachcroft launches Scottish fraud team
DAC Beachcroft has extended its claims validation team services into Scotland, establishing a specialist fraud team at its Glasgow office.
Grandmother facing jail after contempt conviction over injury claim
A grandmother could be facing a jail sentence after being found guilty of contempt of court for exaggerating the extent of a personal injury claim.
Data concerns prompt IUA professional lines questionnaire
The International Underwriting Association has published a new questionnaire for the submission of professional lines business.
Threat of closure looms for 153 law firms ahead of final PI deadline
The Solicitors Regulation Authority has revealed 153 solicitors firms have gone into the extended policy period after failing to secure professional indemnity cover.
CPP reserves £55.8m for mis-selling payouts
Credit card insurer CPP has set aside £55.8m for mis-selling payouts, City AM has reported.
Post Magazine - 31 October 2013
The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS App Edition on the App Store or read the Post Digital Edition online.
Insurers frustrated as MoJ defers increase in small claims track threshold
Justice Secretary confirms medical expert panels will be introduced for whiplash.
Insurers set to pay the price after St Jude storm wreaks havoc in the South
Property damage from fallen trees expected to be among major costs.
Career development: Marsh young claims professionals event
Broking giant Marsh sold out its first event for young claims professionals earlier this month.
Market Moves: Busy insurers make a raft of hires along with a number of key departures
Insurers led the way in a recruitment frenzy this week. AIG swooped for a head of commercial property, while Hardy acquired a property treaty business unit manager. There were departures too, with QBE’s Steven Burns announcing retirement from full time…
McLarens partners with environmental adjuster
Global loss adjuster McLarens has partnered with US-based Global Risk Solutions, which specialises in environmental claims.
Opportunistic Fraud: Zero tolerance
With opportunistic fraud attracting little public attention compared with large-scale organised fraud, the insurance sector is battling to change attitudes to such crime and develop methods to catch its perpetrators.