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The ABI credit hire GTA needs to better reflect today's vehicle technology

Tue, 24 Apr 2018 10:35:20 +0100

Insurers and credit hire organisations need to work together to create a new general terms of agreement to better reflect today’s engines. That is the view of Europcar UK business development director James Roberts, who adds all parties will benefit if a gap can be bridged between the Association of British Insurers and today’s motoring technology.

Sedgwick appoints Malcolm Hughes as Ireland CEO

Tue, 24 Apr 2018 10:32:08 +0100

Sedgwick has appointed Malcolm Hughes as CEO of its Ireland operations.

Roundtable: Where next for personal injury reform?

Tue, 24 Apr 2018 06:00:00 +0100

Discount rate and whiplash reforms are going through parliament. Will the outcome be beneficial to all?

Obituary: Norman Cottington, industry mourns rehab 'trailblazer'

Mon, 23 Apr 2018 10:44:07 +0100

Norman Cottington, a revolutionary in the field of rehabilitation and case management in the personal injury sector, passed away suddenly on 11 April.

Lloyd's appoints partners on insurtech lab

Mon, 23 Apr 2018 10:33:43 +0100

Lloyd’s has appointed insurtech specialist L Marks and The Boston Consulting Group to support the set up and operation of its Innovation Lab.

Lust for trust: can public trust be restored in insurance?

Mon, 23 Apr 2018 06:00:00 +0100

Nick Marson, founder of Parallel Mind, talks to commentators from across the insurance market to garner their views of how the insurance market can respond with one collective voice to meet the challenge of restoring public trust

Campaigners call for ONS to collate motor data for policymakers

Fri, 20 Apr 2018 14:20:11 +0100

Exclusive: Campaigners have called for the Office of National Statistics to collate motor insurance statistics for use in parliament.

This week: Proceedings and premiums

Fri, 20 Apr 2018 10:41:22 +0100

This week the UK has been focused on court cases and Inquiries.

Sedgwick UK shakes up leadership team after Cunningham Lindsey merger

Fri, 20 Apr 2018 10:01:40 +0100

Stewart Steel has been named CEO of Sedgwick UK, which will be formed from a merger of Cunningham Lindsey and Vericlaim.

Konsileo to offer 'bespoke' customer data for underwriting

Thu, 19 Apr 2018 15:31:34 +0100

Konsileo said its service will improve the claims process for insurers by providing underwriters more insight into risks.

HDI's Jens Wohlthat on the need for hardening

Thu, 19 Apr 2018 06:00:00 +0100

Natural catastrophe risks reveal the need for industrial cover rate hardening, writes Jens Wohlthat, member of the HDI board of management.

Blog: Insurers should cover recyclables price volatility

Thu, 19 Apr 2018 06:00:00 +0100

The reluctance of current players in the waste sector to manage recyclables price risk presents opportunities for the insurance sector, explains Surabhin Chackiath, waste and resource management consultant at SLR Consulting.

Das v Asplin: Prosecution outlines arguments on fraud charges

Wed, 18 Apr 2018 17:09:25 +0100

The trial of former Das CEO Paul Asplin continued today (18 April) at Southwark Crown Court.

Motor premiums have already started to fall: Fitch

Wed, 18 Apr 2018 08:29:47 +0100

Insurers have already started to reduce motor premiums ahead of the government’s proposed whiplash and discount rate reforms.

Blog: Time to talk about psychological rehab 

Wed, 18 Apr 2018 06:00:00 +0100

Insurers must embrace psychological rehabilitation in the same way that they have physical, explains Jonny Cook, founder and chairman of Corporé.

Cunningham Lindsey to be rebranded Sedgwick following acquisition

Tue, 17 Apr 2018 08:38:44 +0100

Cunningham Lindsey will be subsumed under the Sedgwick brand following the acquisition of the adjuster last year.

Ghost broker jailed after making £321,000 of false car insurance claims

Fri, 13 Apr 2018 10:56:36 +0100

A ghost broker who used victims’ details to make £321,000 of false car insurance claims has been jailed.

British Insurance Awards: 2018 shortlist revealed

Wed, 11 Apr 2018 11:58:00 +0100

C'mon everybody, it is shortlist time!

Blog: Not taking hands off the wheel just yet

Tue, 10 Apr 2018 06:00:00 +0100

UK laws, roads and infrastructure are getting ready for self-driving cars but motorists remain reluctant to adopt this technology, points out Simon Walker, group CEO of First Central.

FCA vows to bring dual pricing under the spotlight

Mon, 09 Apr 2018 14:57:19 +0100

The financial watchdog has vowed to tackle the problem of dual pricing in the coming year.

Underwriting pressure drives negative outlook for London market

Mon, 09 Apr 2018 11:06:51 +0100

Underwriting pressure from the high cost of doing business have caused Fitch Ratings to report a negative sector outlook for London market reinsurance and insurance in 2018.

Blog: Insurers must invest in complaint handling

Mon, 09 Apr 2018 06:00:00 +0100

Artificial intelligence can spot dissatisfaction trends but only good complaint handling will help insurers get value out of those insights, explains Mark Parnaby, managing director of Cynergie, a Davies company.

Analysis: Business interruption - Lost in translation

Mon, 09 Apr 2018 06:00:00 +0100

Specific terms and technical meanings can be misinterpreted and the difference in language used by insurers and insureds could lead to underinsurance when taking out business interruption cover

Month in Post: He’s back and will bite at your ankles

Fri, 06 Apr 2018 11:48:41 +0100

There is always something troubling about a disembodied head. More so, when it is Arnie’s head and it is shouting at people at the bus stop.

Blog: Intellectual property insurance still under valued despite rise of cyber attacks

Fri, 06 Apr 2018 06:00:00 +0100

There still appears to be a significant disconnect between the understanding of cyber risks and the response to them at board level. RGL Forensics partner Ben Hobby explains that as a result companies might have already suffered, or are about to suffer, a cyber-attack resulting in a loss of intellectual property.

Cat bond issuance hits $3.1bn in Q1

Thu, 05 Apr 2018 11:30:50 +0100

Insurers and reinsurers sponsored $3.1bn (£2.2bn) in catastrophe bonds in the first quarter of 2018, up 34% from the first quarter of 2017, according to data analytics provider PCS.

Downstream energy sector suffers worst loss in nearly a decade

Thu, 05 Apr 2018 11:02:13 +0100

The downstream energy sector suffered its worst loss record for nearly a decade in 2017 with low rating levels exacerbated by one of the worst catastrophe loss years on record.

Interview: Matthew Reed, Equipsme

Wed, 04 Apr 2018 11:57:58 +0100

A veteran of brokers Towergate and Hyperion Group, and latterly insurer Axa, Matthew Reed is now fronting his own insurtech. Here he speaks to Jonathan Swift about how the managing general agent plans to make it easier for brokers to sell corporate private medical insurance and the advantages of boardroom experience when it comes to turning start-up ideas into reality

Analysis: W&I for bricks and mortar

Tue, 03 Apr 2018 06:00:00 +0100

Warranty and indemnity insurance has seen significant growth in the real estate sector over the last few years. And, with the cover offering significant advantages to those involved in real estate deals, many expect it to become a standard part of any transaction

Aviva's Rob Townend on making sure policyholders benefit from whiplash reform

Mon, 02 Apr 2018 06:00:00 +0100

The whiplash reform and discount rate change can be positive for customers, but Rob Townend, managing director at Aviva UK general insurance, warns the challenge for the industry will be to demonstrate these measures have indeed benefitted policyholders.

Blog: How to stop silicosis becoming the new asbestos

Fri, 30 Mar 2018 06:00:00 +0100

Silicosis could result in claims if employers don't manage risks correctly, explains Andy Miller, technical risk control manager at Allianz UK, wondering whether a tougher approach might be needed.

This week in Post: Caution, doubt and selling out

Thu, 29 Mar 2018 13:49:51 +0100

This week in Post, there was news of sales, incompetence and unprecedented losses.

Minor discount rate revision could lead to £44m bounce for LV

Wed, 28 Mar 2018 12:35:08 +0100

LV could make a profit of £44m if the discount rate was revised even fractionally, the company said.

Grenfell insurer almost doubles premium following ‘unprecedented loss'

Mon, 26 Mar 2018 12:52:27 +0100

A Spanish insurer that covers leaseholder building insurance for the Royal Borough of Kensington and Chelsea will raise premiums by 86% as a result of the Grenfell fire.

Trump signs flood programme extension despite veto threat

Mon, 26 Mar 2018 12:00:37 +0100

The National Flood Insurance Programme would be extended to 31 July as part of a $1.3tn federal spending package signed by President Trump on Friday, despite threatening to veto the bill earlier the same day.

Gable had 60,000 UK policyholders when it collapsed

Fri, 23 Mar 2018 12:33:23 +0000

More than 60,000 UK policyholders had business with Gable at the time of its collapse, and the UK guarantee scheme has to date paid almost £27m in compensation.

Business interruption to fall under terrorism cover

Thu, 22 Mar 2018 14:35:45 +0000

Businesses disrupted by terrorist attacks will soon be able to claim under their insurance policy.

Video: Insurers and claimant lawyers react to whiplash reform

Wed, 21 Mar 2018 15:10:08 +0000

Insurers welcome the whiplash compensation reform introduced in the Civil Liability Bill, while personal injury lawyers warn against its unintended consequences.

Lloyd’s struck by £2bn loss from nat cats

Wed, 21 Mar 2018 08:43:19 +0000

Lloyd’s of London has been hit by a £2bn loss owing to an “exceptionally difficult year” of natural catastrophes.

Government to unveil discount rate reform

Tue, 20 Mar 2018 08:29:57 +0000

The government will today introduce reforms to the way the discount rate is set, although it is not known whether a new rate will also come as part of the legislation.

Analysis: Risks, challenges and opportunities of commercial use of listed buildings

Tue, 20 Mar 2018 06:00:00 +0000

Underinsurance casts a long shadow across the world of listed properties, especially when owners are constantly expanding commercial activities. Experts warn that there can be many traps for the unwary or naïve, many of which do not come to light until there is a claim

RSA's Gail Parker on using internal brand engagement to better serve customers

Tue, 20 Mar 2018 06:00:00 +0000

Gail Parker, brand, marketing and distribution director at RSA Personal Lines, shares her tips on employee engagement and customer satisfaction.

Blog: How to make your cyber offering stand out

Mon, 19 Mar 2018 06:00:00 +0000

Cyber insurers can gain market share by differentiating their products. Benedict McKenna, vice-president and London operations claims manager at FM Global, explains how.

Ombudsman launches review following undercover investigation

Fri, 16 Mar 2018 14:19:36 +0000

Thousands of complaints against insurers may need to be re-examined after a TV investigation found staff at the Financial Ombudsman Service were woefully undertrained.

Blog: Medical hope for mesothelioma patients and asbestos insurers

Fri, 16 Mar 2018 06:00:00 +0000

Possible mesothelioma treatment will require a new approach to asbestos claims, explains Ian Harvey, head of claims strategy at Pro Global.

Blog: 'Beast from the East' hits farms hard

Thu, 15 Mar 2018 06:00:00 +0000

The 'Beast from the East' has killed sheep, stopped milk collections and destroyed farm buildings. Graham Plaister, loss adjuster at Agrical, describes the tempest of claims blowing through the sector.

Mark Collins replaces Robin Challand as CIO at Ageas

Wed, 14 Mar 2018 11:51:22 +0000

Mark Collins will replace Robin Challand as chief information officer at Ageas following Challand’s appointment as claims director at the company in January of this year.

Loss adjusting and insurtech gains fail to stem Charles Taylor profit decline at full year

Wed, 14 Mar 2018 11:09:13 +0000

Well-publicised gains in Charles Taylor’s loss adjusting and insurtech arms saw revenues jump 25% in 2017 but failed to push the insurance services provider to profit.

Blog: Video killed underinsurance

Wed, 14 Mar 2018 06:00:00 +0000

The technology that can radically change household insurance has nothing to do with smart home devices, argues Charlotte Halkett, managing director of insurance product at Buzzvault, who bets on video surveys.

Blog: How insurers can support mental health in the workplace

Tue, 13 Mar 2018 06:00:00 +0000

Insurance can help mitigate the economic impact of poor mental health in the workplace, but policy design must adapt to meet the challenge, argues Michael Ryley, partner at Weightmans.