Property
Carole Nash launches home insurance policy
Carole Nash has launched a home insurance policy for motorcycle owners with provision of secure storage for bikes if a policyholder’s home is rendered uninhabitable through a claim.
Mutual insurer FM global reports 32% income rise
Business property insurer FM Global recorded a 32% increase in its net income to $1.02bn (£611m) for 2013 alongside a 2.7% increase in gross written premium to $5.6bn.
Home emergency: State of Emergency
After facing strong criticism in recent months, key figures in the home emergency insurance market are keen to extol the cover’s virtues. What does the future hold for the under-fire sector?
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?
Miller combines P&C specialists into single unit
Broker Miller is combining its property and casualty specialists into one business area headed by Ken MacDonald.
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.
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.
Which? urges insurers to be transparent on renewal prices
Consumer watchdog Which? has launched a new campaign calling on insurance companies to show last year’s premium alongside renewal quotes.
Ageas profits creep up 3% in a year of rates pressure
Ageas delivered a marginal increase in net profits of £85.2m in 2013 (2012: £82.9m) alongside a combined operating ratio of 98.4% (2012: 99.8%) in a year of underwriting discipline amid pressure on rates.
ICA promotes Queensland building safety study
James Cook University has been asked by the Insurance Council of Australia to design an engineering inspection scheme for apartment and similar buildings known as 'strata-title' properties in North Queensland.
BPF urges MPs to support Water Bill amendments
The British Property Federation is urging politicians to support Water Bill amendments being tabled in the House of Lords that would extend affordable flood insurance to excluded groups.
Household premiums tipped to rise as adverse weather takes hold
Property premiums could be set to rise in 2014 as mounting flood losses begin to take their toll on insurers, according to Deloitte insurance partner James Rakow.
ICAT and Ariel partner on US SME cat coverage
US property catastrophe insurer ICAT has partnered with Ariel Syndicate to deliver additional risk capacity to catastrophe-exposed small and medium sized businesses in the US.
High-net-worth insurers fight Flood Re exclusion of highest council tax bands
Properties in band H will not be covered but insurers still have to pay levy
International: The key to protecting property
With economies recovering across Europe, the property market is beginning to show signs of movement again. But with the credit crunch still fresh in people’s memories, insurers are seeking to reassure those feeling cautious about property transactions.
Flood losses not expected to arrest premium decline, claims Moody's
Widespread flooding over the Christmas period is unlikely to reverse the decline in property insurance premiums, despite the impact of the adverse weather conditions negatively affecting insurer’s earnings, according to Moody’s.
LV CEO predicts 2014 motor recovery following £40m GWP drop
LV has recorded a £40m drop in general insurance gross written premium for the 12 months ended 31 December 2013 while total in-force policies grew by 300 000.
Markel promotes two on property treaty team
Markel International has promoted Nick Hillman and Nick James to senior underwriters on the property treaty account in its specialty division.
Industry facing £426m bill for Christmas floods
The insurance bill for storm and flood damage over the 2013 Christmas and New Year period will cost the industry around £426m, according to the Association of British Insurers.
Chinese insurers investing heavily in Australian property
Chinese insurers are set to ramp up investment in Australian commercial property by 30% this year.
Proximity to schools and supermarkets used in claims propensity study
Homeowners in certain parts of Sheffield, Newcastle-upon-Tyne and Kent are among the most likely to make a home insurance claim, according to a study conducted by Marketing Matrix.
Manchester and London most targeted by home burglars
Manchester suburbs Barlow Moor and Chorlton-cum-Hardy were ranked top of a Money Supermarket list of UK areas most likely to file a home insurance burglary claim.
BPF brands ABI Flood Re claims ‘misleading’
Claims from the Association of British Insurers that the Government’s new flood insurance scheme, Flood Re “will cover domestic properties regardless of whether leasehold or freehold”, have been branded misleading by the British Property Federation.