Flooding
Market must use consortium model to attack expense base, says Hiscox chair
Carriers in the London market must work together in consortiums to spread risk, combat rising expenses ratios and mitigate underwriting pressures, Hiscox chairman Robert Childs said.
Blog: Why you should model your flood losses on a European scale
The anatomy of European flooding means insurers and reinsurers should model their potential losses across several countries, explains Dr Maurizio Savina, director at RMS.
Flood Re sets out 2039 plans for affordable pricing
Flood Re has set out its long-term vision for when it exits the market in 2039.
Risk management: Analysis: Councils: Local challenges
Local government insurance has to deal with emerging risks. How is it adapting as competition increases?
This week: The power of the collective
The Post team is feeling proud this week, having not just reached our fundraising target of £500 for our charity run through mud but having exceeded it well before deadline date. Thanks to all that have supported us so far.
RSA backtracks over no bonus for UK staff
Exclusive: RSA has backtracked over a decision to not award bonuses to UK staff, after employees claimed it was unfair that group CEO Stephen Hester received a bonus of almost £5m.
Direct Line hit with £50m bill for Beast from the East
Direct Line Insurance Group reported a 5% drop in quarterly gross written premiums and faces a £50m bill as a result of Britain's long, icy winter.
Flood Re to freeze premiums for first time
Flood Re is set to freeze the premiums it charges to insurers for the first time.
Trump signs flood programme extension despite veto threat
The National Flood Insurance Programme would be extended to 31 July as part of a $1.3trn federal spending package signed by President Trump on Friday despite threatening to veto the bill earlier the same day.
Blog: Beast from the East opens the valves for escape of water claims
The 'Beast from the East' and storm Emma have caused a surge in escape of water claims, notes Clive Nicholls, UK and Ireland CEO of Crawford & Company, urging the insurance industry to unite to promote preventative measures.
Blog: The 130 missed opportunities to make a flooded home resilient
Many opportunities are missed to make properties flood-resilient instead of just repairing them, write Dr Jessica Lamond and Dr Rotimi Joseph, respectively associate professor and visiting fellow at the University of the West of England Bristol. They…
Emerging Asia fastest growing GI market in 2018
Emerging Asia is set to remain the world’s fastest growing general insurance market in 2018.
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…
Insured cat losses hit record $135bn in 2017, says Munich Re
The final insurance bill for natural catastrophes over 2017 is expected to come to $135bn (£99.6bn) – higher than ever before, according to Munich Re.
Blog: Water resilience now
Water resilience can reduce the trauma and cost of restoring a flooded property, writes Roy Shevlin, building consultancy services director at Cunningham Lindsey.
Interview: John Eves, Chartered Institute of Loss Adjusters
John Eves has replaced Jonathan Clarke as president of the Chartered Institute of Loss Adjusters. Eves will balance his new responsibility alongside his role as managing director of Irish loss adjusting firm, Thornton & Partners. The new Cila president,…
Blog: The cloudbuster’s guide to surge
Technology can’t influence the weather but can change its outcomes during surge, explains Claims Consortium’s operations director Connie Beasley.
Canopius signs up to Flood Re
Canopius has agreed to cede risks to the UK government-backed Flood Re scheme.
Insurers call for tougher rules as government launches home building plan
Insurers have called for tough new building regulations as the government plans to create thousands of new homes a year.
Sector must tackle rising escape of water claims, warns ABI
Tackling the rising costs of escape of water claims must be the “number one priority” for the domestic property insurance market, the Association of British Insurers has said.
Home premiums on the up as repair costs and fraud escalates
Home insurance premiums are soaring as rising inflation increases the cost of claims while fraud escalates, according to research findings.
This week in Post: Anti-bullying, Amex and IPOs
As the mother of a nine-year-old son who is growing up in a digital world where his life might be played out on social media I was shocked to learn that Childline held over 12,000 counselling sessions with children who were concerned about an online…