Property
Blog: Managing risk in bricks and water
Driven by global events and new economic dynamics, the risks of property damage claims are rising dramatically.
Average property damage claim cost more than doubled in past decade
The average cost of property damage claims has more than doubled in the past 10 years, with pay-outs totalling £4bn per year, according to research from law firm BLM.
Ageas will replace UK General capacity deal
Ageas will look to replace the agreement it had with UK General after it was announced Great Lakes Reinsurance (UK) will takeover as the managing general agent's major capacity provider.
Storms to cost Ageas £46.1m as FY profit slides
Ageas estimates it will pay £46.1m worth of claims following the December 2015 storms and floods, taking its 2015 combined ratio to 102% (2014: 99.8%).
Intellectual Property: Protecting bright ideas
It is a sad fact that most businesses only appreciate the value of intellectual property insurance once it is too late. So why is it vital?
ABI warns against further IPT hike in March budget as home premiums rise 3.1% in three months
The Association of British Insurers has warned the government against rolling out a further rise in insurance premium tax in the Chancellor’s upcoming budget, as independent research reveals a 3.1% rise in home premiums in three months.
IPT to blame for increase in building and contents premiums
The cost of buildings-only and contents-only insurance rose 3.5% in the most recent quarter, which can be largely attributed to the Insurance Premium Tax hike, according to the Association of British Insurers.
Blog: Towards the uberisation of claims?
Discussion in the insurance claims sector is increasingly about how customer care can be improved while keeping expenses down. And all eyes are turning to smart technology, believed to be capable of playing a role here.
Axa begins publishing claims statistics for individual products
Axa has begun publishing claims statistics for its individual products in a bid to improve customer trust via increased transparency.
IPT pushes up home and motor rates, says AA
Home and motor premiums increased in Q4 2015, with the AA’s index pointing to the increase in Insurance Premium Tax shouldering at least some of the rise.
C-Suite - Insurer: A climate of hope
Following the floods, the COP21 agreement offers a glimmer of optimism over climate change
Consumer Focus: 2016: The year of the ‘switcher’?
The insurance industry saw huge changes in 2015, with changes in regulation and government tax rises. The effect on consumers will be seen over the next year – and they may not be happy
Video: Post docu-video: European Windstorm
In recent weeks, European windstorms have been very topical. With Abigail and then Barney causing significant damage across the UK, this peril is very much on the insurance agenda. This docu-video looks at how insurance companies currently assess…
Home insurance fraudster handed suspended sentence
A 37-year-old man who made a fraudulent claim for £34,000 worth of items on his LV home insurance policy has been given a suspended jail sentence following an Insurance Fraud Enforcement Department investigation.
Esure secures insurance fraud verdict over Breitling claim
Esure has won a victory in the fight against insurance fraud after a man was found guilty after falsely claiming on his home insurance policy for a £6000 Breitling watch he never owned.
Ageas teams up with Pii to cover landlords
Ageas has launched a new property owners' scheme in conjunction with underwriting agency Property Insurance Initiatives (Pii).
Blog: The IoT is a marathon, not a sprint, for insurers
Customer propositions and experiences encompassing the Internet of Things are changing the way we live, from health trackers to remote heating controls. Even our white goods are getting smarter: Amazon has teamed up with manufacturers, allowing…
Transactor and Zurich partner on car and household schemes
Software provider Transactor Global Solutions and Zurich have entered a partnership that will see a range of Zurich products distributed through the Transactor platform.
C-Suite - Insurer: Extending the claims team
If a customer's home has been flooded, affected by fire, weather or some other unforeseen circumstance, they are going to be pretty upset.
AM Best predicts December storms will pressure 2015 earnings
The December 2015 storms and floods will put pressure on the 2015 earnings of UK property insurers but will have little impact on balance sheet strength and ratings, according to AM Best.
Insurers encouraged to embrace claims apps as customer demand grows
More than one in four consumers would be in favour of using a smartphone app to submit a motor, travel or household claim, new research has found.
Barbican Insurance group merges capabilities into single brand
Barbican Insurance Group has launched Barbican Protect, which brings together the underwriting expertise and service capabilities of Barbican Underwriting Limited, PI Protect and Barbican Channel Islands into a single brand.
Airmic urges a 'pragmatic and flexible' approach for corporate customers following flooding
The current flooding in the north of England has underlined the need for businesses to buy insurance that is fit for purpose, and to support it with effective crisis planning according to the Association of Insurance and Risk Managers.
Penny Black's Ghost of Christmas Keys
Last year at Keycare alone, 25 claims were made on Christmas Day for lost keys. Penny wonders if the ghosts of Christmas Past, Present or Future were involved.