Over half a million attempts at insurance fraud were detected in 2017, equivalent to one fraud every minute.
Insurers need to keep pushing their priorities now for an effective Brexit plan, writes Andy Watson, CEO of Ageas UK, urging the industry to work with the government to achieve a realistic negotiating strategy.
Global insured losses from natural catastrophes and man-made disasters during the first half of 2018 were $20bn, 33% below the ten-year average of $35bn, according to Swiss Re Institute's preliminary sigma report.
Overall, top-line growth for the 30 largest European insurers has been steady, reflecting the underlying economic conditions throughout Europe, explain Tim Prince and Yvette Essen, director of analytics and director of research at AM Best
The heatwave that engulfed the UK in July led to a 62% increase in fire claims, according to a loss adjuster firm.
Zurich UK has seen operating profit rise 24% in H1, as a focus on commercial enabled the firm to avoid huge weather losses seen elsewhere.
Insurers should brace themselves for higher subsidence claims volumes, explains Sne Patel, head of subsidence at Crawford & Company.
Ageas UK returned to profit in H1, as strong motor gains offset losses in household.
Direct Line Group saw operating profit slide in the first half of 2018, as it was hit by weather-related claims.