Claims
Bupa's Alex Perry on prioritising mental health in the insurance sector
One in four people experience poor mental health each year, writes Alex Perry, CEO of Bupa Insurance UK, arguing that with a quarter of customers affected by the issue it's important that addressing mental health is a priority for the whole insurance…
Lamp policies transferred to another unrated insurer
More than 8000 former home insurance customers of failed insurer Lamp have had their cover moved to another unrated Gibraltarian insurer, Red Sands.
Analysis: Impact of smart home technology on escape of water claims
In 2018 insurers dealt with 228,000 escape of water claims, at a cost of £617m – an increase from £529m paid out five years ago, according to statistics from the Association of British Insurers. With the rising cost of claims, can technology help reduce…
LV's Clare Lunn appointed to head industry's counter-fraud organisation
Exclusive: Clare Lunn, director of fraud at LV, has been selected as a chair of the the General Insurance Fraud Committee.
This week: Rolling in it
Thursday seemed an appropriate day for insurtech Hippo to announce the outcome of its latest funding round – with temperatures reaching 38°C in places, the urge to emulate the mud-wallowing tendencies of its namesake animal became more and more tempting.
BLM wins fundamental dishonesty case against opportunistic fraudster
BLM has won a fundamental dishonesty case against a fraudster who claimed for whiplash from an accident where she was not in the vehicle.
Blog: The financial crime insider threat
The insurance industry has woken up to the growing criminal threat. However, Dennis Toomey, global director of counter fraud analytics and operations at BAE Systems, highlights that much investment in this area has focused on the external threat.
Criminal who stole Audatex data ordered to pay £25,500
Mustafa Kasim, who was sentenced to six months in prison in November for stealing data from Audatex, has now been ordered to pay a confiscation order of £25,500.
FCA flexes muscles over unauthorised claims firm
The Financial Conduct Authority has named a personal injury claims management company as operating without authorisation.
Analysis: Mitigating the risk of sexual harassment in the workplace
Over the past two years, awareness of how prevalent sexual harassment is in the workplace has reached perhaps unprecedented heights.
30,000 Alpha policyholders to be moved to new insurer
More than 30,000 property policyholders affected by the collapse of Alpha have been thrown a lifeline in the form of alternative cover arranged by the Financial Services Compensation Scheme.
This week: Gaukward moment for insurers following Ogden change
It was around Spring when office chat turned to the trend of insurers bolstering full year accounts through claims reserve releases.
Insurers attack 'misleading and wholly disingenuous' discount rate impact assessment
The impact assessment issued to parliament in relation to Lord Chancellor David Gauke’s decision to set the discount rate at minus 0.25% has been called “misleading and wholly disingenuous” by Huw Evans, director general of the Association of British…
Analysis: SME risk management: Loss of appetite
Small and medium-sized enterprises are facing a plethora of challenges. So how are insurers helping this sector?
Revealed: Leaked emails show Ecclesiastical staff using 'callous' language over child abuse claims
Ecclesiastical claims handlers suggested a child abuse survivor could be “bought off” for a modest sum, according to a cache of emails obtained by Post.
Blog: Fires and cars - spontaneous combustion is 'use'
The legal definition of when a car is in use and how it affects an insurance claim has long been contentious. Alistair Kinley, director of policy and government affairs at BLM, takes a look at the latest ruling and its likely impact on the insurance…
Hastings reveals Ogden rate hit
Hastings shares fell this morning after saying the Ogden rate change to minus 0.25% would result in a one-off £8.4m blow.
Ecclesiastical hauled over coals in child abuse inquiry
Ecclesiastical was forced to admit the advice it gave to the Church of England related to a child abuse claim could have been handled better.
Analysis: Industry faces financial blow from discount rate revision
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.
Travel insurers must ‘signpost’ policies for vulnerable customers
Travel insurers will have to ‘signpost’ policies that have exclusions over pre-existing medical conditions.
Majority of disputed claim rulings are won by insurers
Insurers win two-thirds of legal disputes against their commercial policyholders when a claim is disputed.
‘Bad outcome’ for industry as discount rate revised to -0.25%
The government has set a new discount rate of minus 0.25% - a much lower number than the expected 0%.
Blog: Home history data may build a better picture for pricing
Pricing practices in the home insurance market are under scrutiny and according to Jay Borkakoti, director, home insurance, UK and Ireland, LexisNexis Risk Solutions insurers need to use claims history data to better their understanding of property risk.
This week in Post: 25 years of the British Insurance Awards
This week the best and brightest in the insurance community gathered in the Royal Albert Hall for the 25th British Insurance Awards.