Given consumers less that flattering view of business, Marcus Taylor, director of claims, Minster Law, warns the insurance sector needs to make sure it listens to the public before enforcing the new online claims journey post April 2020.
Three years ago, the government established an Insurance Fraud Taskforce with much fanfare. However, in the last 18 months, the project has gone quiet. A report from the latter half of 2017 has yet to be published. Post looks at what the holdup is.
We may have enjoyed plenty of sunshine this summer, but spare a thought for the insurers. The ABI this week reported a record-breaking surge in subsidence claims.
The government has launched a call for evidence ahead of a review of the current discount rate.
The third quarter of 2018 saw a 350% surge in subsidence claims – the highest since records began 25 years ago – figures from the Association of British Insurers reveal today.
Aviva will sell motor and household lines through a platform that will "reinvent" the way insurance is sold and tackle the issue of dual pricing.
From automation to digitalization; from controlling claims inflation to the legal framework for driverless cars, it could be argued that working in claims has never been scarier – but more exciting.
A US-based venture capital firm has invested in Home Repair Network.
Hooking the headlines this week, Danish unrated insurer Qudos was placed in liquidation by its owner.
Exclusive: Plant theft claims are to hit an all-time year high in 2018, Allianz has predicted.
Many more insurers are allowing customers to renew policies, make claims notifications and track claims digitally compared to last year, according to research by Altus Consulting.
It has been predicted that 2018 won’t be just a subsidence surge year, but one that will see the greatest upsurge in claims over a two year period.
Victims of economic abuse often struggle to access insurance, writes Alice Merry, financial inclusion consultant for Surviving Economic Abuse, explaining what the industry can do about it.
At long last, the Civil Liability Bill cleared its final parliamentary hurdle this week, opening the way for a much-awaited review of the personal injury discount rate.
Jeremy Pinchin, Hiscox group claims director, will retire at the end of February 2019, after 13 years at the company.
The Motor Insurers' Bureau hopes to secure £400m worth of reinsurance cover with an excess layer of £100m, ahead of the demutualisation of terrorism risks for third party motor on the 1 January 2019.
Insurers have cast doubt over the viability of government proposals to reduce insurance premiums for motorists who have signed up to a cyclist awareness course.
Aviva has acquired a majority stake in connected home insurtech Neos.
The Civil Liability Bill has been sent for Royal Assent after final amendments were approved by the House of Lords yesterday.
Parliament expects the insurance industry to deliver on pledges to pass on discount rate reform savings and will be monitoring its progress, Lord Keen of Elie told a conference.
Motor insurers have paid £23m to motorists every day of the year so far, Association of British Insurers’ research has found.
Insured losses from the California wildfires could be between $9bn (£7bn) and $13bn (£10bn), RMS estimates.
The insurance industry has achieved many successes in its fight against fraud but it now needs to address database overload, urges Steve Crystal, head of financial crime at Sedgwick.
Exclusive: Insurers that have complicated distribution models are failing to maintain accurate records of policyholders, the CEO of the Financial Services Compensation Scheme has warned.