Claims
Underwriters urged to establish policy provisions for drone usage
Traditional aviation policies are unlikely to address the emerging risks presented by the increased use in drones.
Brokers informed: Real world threats demand bespoke solutions
High-net-worth individuals may be concerned by online threats, but it’s physical attacks that worry them most. Tara Parchment, Chubb’s head of European personal risk services, analyses the numbers.
Brokers informed: The perils of escape of water claims for HNW clients
Escape of water claims are reaching an all-time high and the risk can be even more prevalent in the high-net-worth sector. From bespoke wet rooms to expensive technology, with homeowners away for extended periods, the damage can prove complex and…
This week: Technology, treasury and trade credit
I'm not sure who was more excited about technology in our house this week, my son discovered that virtual pets in the form of Tamagotchi are making a comeback in the UK this year while I learnt a bar has opened where robots make you cocktails.
Aspen takes $245m underwriting loss in Q4
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.
Rising Star: Ben Mear, Claims Consortium Group
Mear began his career as a claims handler. He has worked his way up to team leader
Composite Legal Expenses acquires business and assets of General Protection Limited
Composite Legal Expenses has acquired the business and assets of York-based firm General Protection Limited.
Clyde & Co pilots online personal injury arbitration platform
Clyde & Co is piloting an online arbitration system for personal injury claims.
LV's Martin Milliner on delivering the insurance promise
Some insurers waited until their policyholders' frustration made the headlines to give some comfort after the Liverpool car park fire, regrets Martin Milliner, director of claims at LV, urging the profession to deliver on its promises in order to build…
Carillion collapse to cost industry £31m
Trade credit insurers expect to pay £31m to help businesses recover following the collapse of construction giant Carillion, according to figures from the Association of British Insurers.
Alibaba invests in safe driving app start-up
Tel Aviv-headquartered motor technology firm Nexar has closed a $30m (£21.4m) round of financing.
Analysis: Soft reinsurance renewals dash hard market hopes
After five consecutive years of falling rates, global property-catastrophe reinsurance experienced upward pricing pressure at 1 January renewals.
Kennedys secures authoritative court guidance on 'fundamental dishonesty'
Kennedys has secured the first authoritative court guidance on the meaning ‘fundamental dishonesty’ in personal injury claims.
Asia-Pacific COR is "completely unacceptable", says QBE's Regan
Australian insurance giant QBE is looking to turnaround its Asia-Pacific operations after announcing expected 115% COR in 2017.
Gallagher employee jailed over £500,000 fraud
A claims manager who defrauded his employer, Arthur J Gallagher, out of more than half a million pounds, has been jailed.
McLarens makes two senior appointments
McLarens has appointed Ross Landsbaum as chief financial officer and Adam Weiner as senior vice president, IT strategy & operations.
Drone usage in insurance claims faces cyber and regulatory challenges
Inconsistent regulations and risk of hacking are among the challenges that need to be overcome as loss adjusters are increasingly using drones to assess insured damage, said Nick Barber, head of property & energy claims - Europe at AIG.
Blockchain pilots will be weighed on their merits
There may be several Blockchain prototypes available for companies to choose from at present but there will be a "narrowing" in terms of successful models later on, a consultant said.
Some insurtech investment doesn't make sense, conference hears
Some investment criteria into insurtech start-ups “don’t make sense over time”, said Neil Harrison, global head of claims at Aon Risk Solutions, warning against “innovation that is going to cause dissatisfaction”.
Executives admit they were unprepared for 2017 nat cats
Senior executives of major financial businesses admit they were unprepared for the spate of costly natural catastrophes that hit the American coastline at the tale end of last year.
Connected cars pose terror risk, conference hears
Connected cars are vulnerable to hacking and therefore pose a terror risk, a conference in Budapest heard.
Blog: Grenfell shows construction details need to be fully disclosed to insurers
Building regulations are being reviewed in the wake of the deadly Grenfell fire and Neil Clutterbuck, chief underwriting officer at Allianz, points out construction details need to be fully disclosed to insurers.
Blog: Brexit could leave motor insurers without room for manoeuvre
British drivers who have a car accident in the European Union can currently seek redress through UK courts but Brexit could change that. Mark Hemsted, partner at Clyde & Co, lists the points to keep an eye on.
Axis faces $130m nat cat loss in fourth quarter
Axis Capital estimates it will take a $130m hit as a result of fourth quarter catastrophe and weather-related losses.