Claims
Beazley GWP hits $3.3bn
The insurer stated premium rates on renewal business increased by 23% in Q3 2021.
Fidelis opens trading floor in London
The Bermuda-based specialty insurance and reinsurance provider said its new operation would enable brokers to meet with its underwriters, actuaries, wordings and claims specialists to discuss 57 lines of business.
Fraudulent claim value goes up but detection rates also increase
ABI data shows the average fraudulent insurance claim has now reached £12,000 as the the body praises the efforts made by insurers’ fraud investigation teams throughout the pandemic.
Covid BI claims payments surpass £1bn
The latest set of figures from the FCA show providers have made initial payments worth £328.9m for unsettled claims and final settlements of £696.2m.
FCA urges insurers to take action on BI claims payments
FCA director Matt Brewis sets out the regulator's supervisory strategy for insurers as he warns firms to speed up business interruption payments and follow fair value guidelines.
Brokers and loss adjusters – can it be a winning partnership?
News analysis: Rachel Gordon investigates how broker-owned loss adjusters are changing the claims process and whether they could pile on the pressure for insurers.
Covid BI claims payments near £1bn
FCA figures show interim payments of £331.2m and final settlements of £636.7m have been made since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 6,073.
Agreement to speed up claims in pandemic expires
The ABI and ASCO have agreed to set aside the statement of intent develop to speed up claims resolution in the wake of the pandemic.
MCE appoints QBE's Paul Ormiston as claims director
The motorbike specialist said the decision to create the new role at board level signals MCE’s ongoing commitment to customer-centric digitisation.
Allianz Holdings reveals drop in GWP in first half of 2021
Provider points to continued impact from Covid-19 as well as competitive market conditions and the run-off of certain portfolios as it also reports a COR of 91.7%.
Hiscox returns to profit in H1 2021
Provider also records rise in GWP and an improved COR of 93.1%.
Brokers say incoming Hiscox CEO will need to tackle reputation issues following BI row
Experts note Bronek Masojada, who is stepping down as Hiscox group CEO later this year, has built a business focused on quality, but some want to see a stronger broker focus as they say successor Aki Hussain's challenge will be to "win back the trust" of…
Allianz adds tracker to claims hub
The broker-focused tool maps progress across five areas.
Hiscox boss Bronek Masojada to retire after 21 years in post
Masojada is set to step down at the end of the year and will be succeeded by group CFO Aki Hussain.
Qlaims moves into personal lines
The MGA said the claims product could be offered as ancillary cover by personal lines brokers or embedded into a home policy wording.
Blog: Take flight with drones
Iprosurv's Rebecca Jones explains why drones can be a key tool in a broker's risk management and claims armoury.
Supreme Court issues BI declarations
The Financial Conduct Authority published the document on its website alongside a table to show relevant declarations by policy type.
Broker NDML and night time industry agree £5.2m BI claims settlement with Hiscox
The settlement follows on from the Supreme Court judgment in the FCA's BI test case in January.
FCA data shows Covid BI claims payments now total £875.5m
Updated figures reveal providers have made initial payments for unsettled claims worth £308.9m and final settlements worth £566.6m since the Supreme Court verdict in the FCA test case.
Admiral flags “higher than expected” profit
The business suggested low claims frequency and unusually positive developments in the cost of bodily injury claims will boost its half year figures.
Partners& boss highlights advice-led focus after Kudos buy
CEO Phil Barton reveals how the recent Kudos deal came about and discusses how the purchase of a loss adjuster will enhance the broker's client proposition.
Analysis: Gefion collapse highlights risks of unrated capacity
Niche brokers say they have no choice but to use unrated insurers as compliance experts call for a change of the "unfair" FSCS levy system after the scheme steps in to pay claims following Gefion's bankruptcy.
Peach Pi partners with Tapoly on freelancer cover
The MGAs have co-created cover for freelancers and micro-SMEs operating in the health and wellbeing sector.
Covid BI claims payments hit £765.8m
FCA figures show interim payments of £289.5m and final settlements of £467.2m since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 9,152.