Throwback Thursday: Computer insurance and bounce back plans
Insurance Post’s Throwback Thursday steps back in time to May 1981 to remind you what was going on this week in insurance history when Hogg Robinson launched computer insurance and General Accident was looking beyond the recession.
7 May 1981: Hogg Robinson launches computer insurance
Insurance brokerage Hogg Robinson launched a new insurance package designed to provide inclusive cover for computer installations.
The package was supposed to identify and appraise the different risks for company computers and expanded on a concept developed by Skandia.
Before putting together a package, Hogg Robinson stated a team would visit the company’s premises and do risk analysis.
General Accident looks beyond recession
General Accident paid for an advertisement in Post to explain how it was looking beyond the recession.
“Although General Accident achieved its highest ever profit in 1980, the year was marked by increasing pressure on premium rates and intense competition for both new and existing business,” the advert stated.
“There was also an exceptional rise in our operating expenses during the period and containing overheads has become an increasing priority. Things are unlikely to get any easier in 1981. But let’s look further ahead.
“There’s a lot been happening during the past year that we believe will enable us to emerge from these difficult times with our strength unimpaired and our market standing enhanced.
“We created a completely new computer-based Information Services Division designed to help decision-making and harness the very latest cost-reducing technology.”
Replace “information services division” with “artificial intelligence” and you could be talking to an insurer in 2026.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Commercial
Companies House breach tests fraud and insurance cover
Paul Wainwright, member of the fraud sector focus team at the Forum of Insurance Lawyers and partner at law firm Browne Jacobson, examines how a security flaw at Companies House could expose directors and insurers to complex, overlapping risks.
Managing blackout exposure in the freight sector
As power cuts become more frequent, Fiona Nicolson examines the significant operational, safety and liability risks this poses across the global freight and logistics sector.
Aon warns tensions are redefining risks
Growing geopolitical volatility, in particular in the Middle East, is exposing insurers and buyers to new risks that should trigger a fresh round of stress-testing, the CEO of Risk Capital for Aon has said.
Industry reacts as Renters’ Rights Act becomes law
As the Renters’ Rights Act comes into force, insurers could be facing a more formal, dispute-driven rental market, with an added focus on legal expenses, rent protection and pet cover.
PRA warns insurers over MGA optimism and oversight gaps
The Prudential Regulation Authority has warned insurers against overly optimistic MGA assumptions and raised concerns about oversight of delegated authority arrangements.
Aviva buys DisasterCare to speed up property claims handling
Aviva has bought DisasterCare Group for an undisclosed sum, expanding its disaster recovery and restoration capabilities.
Allianz’s Wyard on motor insurance shifting from drivers to tech risk
Alexandra Wyard, director of technical underwriting at Allianz UK, says autonomous vehicles will reshape liability, data and product design rather than make motor insurers obsolete.
Penny Black’s Social Diary: Zurich’s Baker show; Insurtech chocolate
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences and giving a thumbs up – or down – to the sector’s social media posts.