Claims
Harvey highlights insurance penetration shortfall says Aon Benfield
A significant proportion of the flood losses generated by Hurricane Harvey in Texas and Louisiana will be uninsured, highlighting the existence of a global protection gap, Aon Benfield has said.
Reinsurance role at an ‘inflection point’ for disaster relief: WTW CEO
The global reinsurance sector is at an inflection point in how it is utilised by the humanitarian sector, according to Willis Towers Watson’s CEO of capital science and policy.
LV reports £49m GI operating profit during H1 2017
LV has reported a strong growth in its general insurance operating profit which went up to £49m in the first half of 2017, compared to £22m in the same period last year.
Analysis: D&O and the rise in securities class actions
Securities class actions are on the increase as law firms target smaller companies and focus on litigation related to initial public offerings
Insurers may be forced to re-write cyber policies in preparation for GDPR
Insurers offering cyber policies may see themselves having to adjust the wording of their cyber policies as the General Data Protection Regulation comes into effect.
Lawyers urge Lords to ban 'tasteless and intrusive' cold calling
Lawyers have urged the House of Lords to ban the “scourge” of cold calls by personal injury CMCs.
Hurricane season highlights need to maintain adequate catastrophe loading, says Lloyd’s
The active hurricane season is a timely reminder for underwriters to maintain discipline and adequate catastrophe loading on rates, Lloyd’s Jon Hancock has said.
Harvey and Irma are not market turners, says Hancock
The financial fallout from hurricanes Harvey and Irma will not be enough to turn the market, according to Lloyd’s performance director Jon Hancock.
Ageas' Andy Watson's wish list for returning MPs
As goverment returns to business, Andy Watson, CEO of Ageas UK, reminds MPs that there are still three major areas of policy affecting insurance that need to be properly addressed before insurers can begin to control and then reduce customer premiums.
Ex-RSA employee sentenced after submitting £270,000 in fraudulent claims
An ex-RSA employee has been sentenced after pleading guilty to a number of fraud offences totalling to £270,000.
Three motor service providers acquired under new holding group AGL
Three brands in the vehicle repair, claims and technology sectors have been acquired under holding group AGL, which launched today.
Blog: How insurers can use data analytics to differentiate their products
Insurers shouldn't use data analytics just to drive efficiencies but also to innovate in terms of risk management, writes Paul Dix, insurance strategy consultant at CGI UK.
Beale calls for ‘urgent’ flood insurance reform
Hurricane Harvey and Irma both highlight the problem of inadequate flood insurance and need for reform in the United States, Inga Beale has said.
AIR pegs Irma insured losses at $20bn-$65bn
Hurricane Irma could result in insured losses of $20bn to $65bn, according to a preliminary estimate from AIR Worldwide.
Lloyd's report pegs Miami windstorm at $131bn as Irma heads for Florida
Hurricane Irma could see industry property losses of $131bn, according Lloyd's realistic disaster scenario analysis.
This Month in Post: Discount, diversity and data
There was some good news and some bad news this week for the insurance industry.
Aviva could see boost of up to £200m from Ogden discount rate reform
Aviva stands to make a one off gain of between £100m and £200m as a result of any future discount rate revision to 0-1%.
Insurers rejoice at new Ogden formula on Twitter
Insurers took to Twitter to express their satisfaction with the new mode of calculation for the discount rate, which the government unveiled today.
Live blog: Ogden discount rate reform
Follow reactions to the draft reform to the Ogden discount rate reform in our live blog.
Analysis: Going fishing: What is fuelling consolidation in the loss adjusting sector?
The loss adjusting space continues to shrink, with three major acquisitions of loss adjusting firms in the first two weeks of last month.
Industry welcomes draft reform on Ogden discount rate
Insurers have welcomed government plans to alter the way the discount rate is set in future.
Analysis: Renewables - Riding out the storm
The risk landscape in renewable energy is constantly changing and underwriters need to exercise proper due diligence, argues Fraser McLachlan, CEO of Gcube Underwriting.
Property losses to exceed $65bn after Hurricane Harvey, says AIR Worldwide
The expected cost of total uninsured and insured property losses in the US from Hurricane Harvey is likely to be between $65bn (£50bn) and $75bn according to catastrophe modeling firm AIR Worldwide.
Fixed costs for deafness claims proposed
The Civil Justice Council has published recommendations for fixed costs applying to noise induced hearing loss cases.