Claims
Experts tackle factors driving claims complaints to five-year high
The industry needs to make it clear to consumers why premiums are rising according to specialists at the Association of British Insurers’ annual conference.
Start-up broker partners with Agile on fleet claims app
Agile Developments Group has partnered with brokerage Hummingbird Insurance Services to deliver the Agile claim app, portal and dashboard tailored to meet the needs of its fleet clients.
Allianz creates financial lines claims team in D&O and PI push with brokers
Allianz has created an in-house financial lines claims team covering mid-corp and SME firms, focusing on directors & officers and professional indemnity business.
In Depth: Businesses falling into the justice gap
Widely seen as a personal problem, diminishing access to justice also severely impacts businesses. Tony Buss, managing director at ARAG explains how the justice gap has become a major issue for companies in the UK and what brokers can do to help.
Gracechurch awards regional claims Service Quality Marque to insurer trio
Independent insurance research consultancy Gracechurch has awarded its Service Quality Marque to Allianz, Chubb and Ecclesiastical for UK regional claims.
Malcolm Harvey retires from Qlaims
Managing general agent Qlaims has announced founder Malcom Harvey has retired.
Qmetric reveals £41m loss in run-up to sale
Policy Expert owner Qmetric lost £41.06m last financial year ahead of being bought by the Abu Dhabi Investment Authority, which has gone on to invest £35m in the business.
Tech and innovation to the fore for property risks, says Lockton leader Warman
Pushing forward on technology and innovation will be front and centre this year, according to global real estate practice leader at Lockton, Ben Warman, who also revealed his expectations on market hardening in 2024.
Biba launches three claims guides for members
The British Insurance Brokers’ Association has unveiled three claims guides for members to use, to help customers better navigate the claims process for home, motor and travel insurance.
Insurtech ARMD expands into the broker tradespeople market
ARMD, an insurtech, has formed a managing general agent to target brokers interested in the £6.5bn UK tradespeople insurance market.
FOS motor insurance complaints soar again to new five-year high
The Financial Ombudsman Service received 4,036 complaints about car and motorcycle insurance between July and September driven by disputes over vehicle valuation, customer service issues, and delays in claim settlements.
Former RSA employee who stole and sold customer details jailed
An ex-RSA employee has been jailed for stealing customer details and selling them to claims management companies.
EY predicts worst UK motor performance since 2010 with industry NCR of 114.6%
EY has revised its prediction for the UK motor insurance market and now expects this year will be the worst since 2010 with a net combined ratio of 114.6%.
Home insurance prices rise a record 36% in a year
The average quoted home insurance price increased by 36.1% in a year to October, the highest annual rise on record, according to the latest Consumer Intelligence Home Insurance Price Index.
A fifth of UK businesses victims of cyber-attacks in past year
Research by Aviva has found one in five businesses have been victims of a cyber-attack in the past year, with only 17% of small businesses having a cyber policy in place.
Meet the MGA: Onda
Launched into the UK in October, chief underwriting officer Alex Jomaa explains why managing general agent Onda is on a mission to simplify and demystify cyber insurance for both brokers and customers alike.
Aviva and IFB join forces to help combat paid-ad spoofing scams
Consumers are being urged to be extra cautious when searching for their insurer or broker online.
Aviva uncovered £120m of fraudulent claims in 2022
Aviva has revealed that it uncovered more than 9,250 instances of fraud in 2022 – saving customers £120m.
FSCS keeps broker levy at zero for 2023/24 and projects same into 2024/25
The Financial Services Compensation Scheme has maintained plans to keep general insurance brokers’ contribution to zero this year, and forecast that this will remain the case in the 2024/25 financial year.
ABI calls for IPT cut as motor insurance prices hit record high
The average price of motor insurance increased by 29% in the third quarter of 2023, compared to the same time in 2022, reaching a record level £561, according to the Association of British Insurers’ Motor Premium Tracker.
Brokers pledge to stop sharing building commissions and cap fees
Five top 100 UK broking groups have pledged to end sharing building insurance commissions with landlords and to cap fees. However, many others have not signed up including Gallagher UK who has refused to back the pledge in its existing version over…
EY: 2022 was worst year on record for UK home insurer profitability
The UK home insurance market faced the worst performing year on record in 2022 with a loss-making net combined ratio of 122%, according to EY’s annual UK Home Results Analysis.
People Moves: 23 - 27 October 2023
Stay in the loop with the latest insurance personnel moves.
Telematic providers becoming less competitive as capacity drops
A new report has found telematic insurance providers are becoming less competitive, accounting for just 17% of the top five motor quotes between May and August 2023. This compares with 21% the previous quarter, which particularly effects young drivers.