This Week in Post: Data, dissuasion and dirty toddlers

Muddy boots

When my two-year-old licked the sole of her shoe, I tried not to laugh as that might encourage her. But she caught my badly repressed smile and… licked the second shoe. So much for deterrence.

Hopefully Lloyd’s has stronger dissuasive powers. The corporation fined two underwriters who had transferred confidential information just before leaving their jobs at ERS.

The rest of this week’s news was dominated by H1 results. LV’s general insurance profit halved because of Beast from the East claims. Following this adverse weather, the insurer now hopes for ‘pricing realism’ in home. GI CEO Steve Treloar estimates that the transfer of Allianz’s personal lines business to LV will take 18 months.

Other insurers, like Zurich and Ageas UK, weathered H1 storm claims and returned to profit.

Meanwhile, vulnerable customers with serious illnesses who have claimed under their existing private medical insurance policies, are seeing premiums more than double following the withdrawal of April UK from the PMI market.

The heatwave that has just come to an end is likely to cause a large increase in subsidence claims. Just as insurers are coming under fire over climate risk reporting.

Also this week, we published features on how the London market is recruiting former military personnel to adapt to emerging risks, with a future potential exposure being cyber terrorism.

In our opinion columns, Simon Stanfield from the Motor Accident Solicitors Society argues the proposed whiplash reforms discriminate against legitimate claimants. And Cecile Fresneau from QBE explains why underwriters ask so many questions – and it’s usually not to steal confidential data for their future endeavours.

Enjoy the read!

Cecile Brisson, features editor
@PostCecile

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