Flooding
Household: On steady ground?
How is the household insurance market coping with the cost of claims from extreme weather events and the aggregator‑induced focus on pricing?
International: Asia: Living with disasters
The insurance community is playing an increasingly important role in helping vulnerable communities in Asia adapt to climate change both before and after a disaster.
Co-op Insurance to offer help for flood victims
Co-operative Insurance has launched a package of measures to help customers that have been impacted by the recent floods including advice on home repairs.
L&G under no pressure to raise property rates, claims GI boss
L&G general insurance director Mark Holweger claims his firm’s positive 2013 results has reduced the likelihood of increasing property rates over the coming year.
L&G GI business trims 2013 COR to 84% but flood losses loom
Legal & General’s general insurance business recorded an improved combined operating ratio for 2013 of 84% (2012: 95%), while premiums were up 7% to £375m.
Cunningham Lindsey network halving drying times
Cunningham Lindsey’s managed contractor network Oriel has seen times for drying flood affected properties halved in pilot trials.
C-Suite - Insurer: Flooding issue will not drain away
Extreme weather is here to stay – the industry must adopt long-term measures to reduce property damage.
In Series: Data: A smarter approach to flood risk
How can the industry use increasingly sophisticated data to assess flood risk more accurately?
UK storm and flood losses manageable for insurers says Fitch
The losses relating to the 2013/2014 winter floods and storms will be manageable for UK non-life insurers, according to a report by Fitch Ratings
First quarter weather claims could be highest for 20 years says Deloitte
The storms and heavy rain in the first two months of this year may result in the highest number of first-quarter claims since the storms of 1990, according to Deloitte insurance partner James Rakow.
Most flooded homes now accessible says GAB
The majority of homes flooded since Christmas are now accessible to adjusters according to GAB Robins.
DLG boss Geddes admits 2014 COR expectation is weather dependent
Direct Line Group chief executive Paul Geddes has conceded hopes of achieving a combined operating ratio of between 95% and 97% for 2014 will hinge on the weather improving for the remainder of the year.
Insurers reject campaign to include previous premiums on renewal letters
Swiftcover is only firm in Which? survey to inform customers of last year’s price.
Editor's comment: Pressing the advantage home
Prime Minister David Cameron told the nation “money is no object” when he declared the recent floods a national emergency and staked his personal authority on rebuilding damaged UK regions to make them more resilient to extreme weather.
Insurers doubtful government will approve VAT waiver for flood repairs
Business secretary calls for VAT on flood renovation and repairs to be cut to 5%.
Guy Carpenter unveils satellite catastrophe evaluation
Reinsurance broker Guy Carpenter has launched a new satellite-based catastrophe evaluation service, GC CAT-VIEWSM.
Trade Voice: Flooding: the rules of engagement
The recent industry chief executive roundtable with ministers served as a reminder of how critical the role of insurance is to government and society in dealing with the problems caused by the ongoing flooding.
Flood grant could give rise to rogue trading, claims Trust Mark
Insurers are being advised to liaise with loss adjusters and local authorities to ensure flood-hit homeowners do not get ripped off by rogue trades when using the government’s £5000 repair and renewal grant.
Masojada urges changes to 'flawed' Flood Re scheme
Hiscox chief executive Bronek Masojada has heaped further criticism on the government’s “flawed” Flood Re scheme following the firm's full year 2013 results.
Flooding and drying - busting the myths
by Alan Dobson, director environmental claims division at QuestGates
Insurers care and so do the buyers of insurance
by Edwin Bos, vice president innovation, Reevoo
Axa UK on track for 96% COR by 2015, claims CEO Evans
Axa UK and Ireland group chief executive Paul Evans is confident the business will achieve a combined operating ratio of 96% by 2015 after pointing to an improving motor COR of 99.1% as an indication transformation plans are paying off.
Business transformation bearing fruit as Axa UK GI COR dips below 100%
Axa UK and Ireland’s general insurance business recorded a combined operating ratio of 98.9% in 2013, despite reserve strengthening contributing 0.8 percentage points and a reduction in revenues to £3.7bn (2012: £3.8bn).
VAT waiver for flood victims could be a boon for insurers
Insurers could see lower claims costs from the recent flooding if the government decides to apply a reduced rate of VAT to renovation and repairs for affected properties, according to accountancy firm Baker Tilly.