Property - personal
Data analysis: Trends in the buildings and contents insurance market
Defaqto’s Angela Pilley examines how many building and content insurance providers are operating today compared with a decade ago, how product features have changed, and the types of fees and charges attached to this type of cover.
Zurich to focus on HNW, MGAs and partnerships as it pulls out of broker PL
Zurich UK has today announced plans to refocus its personal lines home and motor business to concentrate on high-net-worth through Zurich Private Clients, alongside its MGA and partnership channels.
Government grills FCA on broker commission
Sheldon Mills, executive director for consumers and competition at the Financial Conduct Authority, conceded the regulator needs to “be tougher on brokers” after Dame Angela Eagle slammed them for “ripping off leaseholders”.
Allianz reveals Treloar’s successor at LV
Allianz has named Serge Raffard as its new personal managing director, following the recent news that Steve Treloar has decided to leave to pursue new opportunities.
Zurich challenges itself to halve HNW quote times
As Zurich looks to invest further in the high net worth space, head of personal lines and specialties Phil Ost wants to challenge his HNW team to respond to brokers’ quotes within 24 hours
Complexity and cost of insuring Britain’s historic buildings
Forty years since the English Heritage rebranded to Historic England under Margaret Thatcher’s government, Pam Kokoszka explores the role the insurance industry plays in protecting listed buildings.
Believe in better – will Sky Protect break the smart tech home insurance hoodoo?
Content director’s view: Jonathan Swift muses on whether Sky Protect could disrupt the household insurance Premier League in the same way it did with English football following its investment in the game in 1992.
Utility Warehouse launches Gibraltar-based insurer
The Utility Warehouse has launched its own stand-alone insurance company, as it seeks to make a greater push into the financial services market.
Diary of an Insurer: Raji
Ola Jacob Raji, former broker success manager at Flood Flash Ltd, spreads the gospel on parametric and explores ways to attract more women to the industry.
Could insurance brokers soon face caps on commission?
Analysis: As the government demands pulling the plug on unfair insurance commission, Frances Stebbing examines whether the regulator could change the rules for how brokers get paid.
RSA’s personal motor withdrawal was More Than inevitable
Content Director's View: Jonathan Swift reflects on RSA's withdrawal from personal motor and concludes it had been coming for a few years now.
Heatwave sees subsidence insurance payouts surge to £219m
Insurers expect to pay £219m in subsidence claims made in 2022, according to the latest Association of British Insurers data.
Perils pegs February 2022 storm losses at €3.8bn
Perils estimates that the final loss for the European windstorm series, which affected the UK and continental Europe from 16 to 21 February 2022, comes to €3.8bn.
Weather and inflation turn up the heat on Allianz Holdings’ profit
Allianz Holdings saw its 2022 operating profit more than halve as a result of higher-than-expected inflation and continued disruptive weather, CEO Colm Holmes has said.
Why property insurers are struggling to control claims costs
Analysis: Sam Barrett explores how inflation, increased labour costs plus material shortages are pushing up property insurance claims costs and why working with loss adjusters to remove frictional cost is essential.
Zurich UK’s profits down £67m due to claims inflation
Zurich UK has posted a profit of £403m for 2022, compared with £470m in 2021, with bosses blaming the dip on the impact of large losses, claims inflation and the very strong prior-year result.
Unison seeking insurance provider after UIA enters run-off
Trade union group Unison has confirmed the search for a new provider for home, travel and pet insurance for its members is ongoing after UIA Insurance went into solvent run-off last year
Is Direct Line’s profit warning a bellwether of more bad news to come?
Content director's view: Jonathan Swift reflects on what Direct Line Group's trading update, and decision to scrap its 2022 dividend, might mean for both it and the UK insurance market.
Defra to set out recommendations to reduce flood risk
The Department for Environment, Food and Rural Affairs is looking to introduce a new approach to sustainable drainage, which is set to be incorporated into new developments in England to reduce flood risk.
Mould in properties is becoming a growing insurance issue
The death of two-year-old Awaab Ishak in a housing association flat has certainly placed the health risks posed by mould firmly in the limelight. Edmund Tirbutt explores the implications of this for the insurance industry.
Reinsurers reveal key takeaways from 'challenging' renewals
Reinsurers have reported that renewals went down to the wire on 1 January, as rapid changes in economic conditions resulted in tense and late, but largely completed, insurance deals.
Smaller insurers fail to provide written proof of meeting pricing rules
The Financial Conduct Authority has found many smaller insurance firms have few or no records to prove they meet the pricing requirements introduced at the start of 2022.