Commercial Lines articles – Page 70
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NewsNuVenture International launches product recall MGA
New MGA hopes to fill gap in niche market that ‘many of the major carriers don’t have the time and knowledge to commit to’
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NewsAxa prepares for ‘potential claims’ from Ukraine and Russia war through exposed lines
Some of the insurer’s crisis management policies, for example, have been ‘triggered because of the war in Ukraine’, says group chief financial officer
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NewsDirect Line Group sees profits tumble as ‘unique combination’ of factors impact market
The insurer has posted a loss ratio of 65.1% for H1 2022
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IT InterviewSoftware company exposes insurance industry as most vulnerable to phishing following simulated attacks
Hackers believe insurance companies are ’highly desirable’ phishing targets because of the data these firms hold, says lead security awareness advocate
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NewsMajority of brokers interested in ‘further digitalisation’ – Aviva
Digital processes could ’eliminate’ repetitive tasks and free up time for customer service
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NewsSchools an ‘attractive target’ for criminals over summer months – Ecclesiastical Insurance
‘Brokers have an important role to play’ in helping education clients manage their risks over the summer holidays
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NewsProposed Leasehold Reform bill a ‘red flag’ for industry over property insurance commission disclosures
‘Millions of people’ could be insured ‘for a lot less’, says financial compliance firm principal
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IT InterviewHelena Kazi: The entrepreneur striving to be a ‘very strong player in gig economy insurance’
Insurtech Giganomics, which is currently conducting a seed funding round, aims to provide a ‘full suite of products’ for an ‘underserved market’
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NewsJM Glendinning Professional Risks promotes internally for new managing director
The candidate came up trumps after a ‘rigorous recruitment process’
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NewsLondon market showcases ‘great degree of optimism’ around PI risks – Clyde and Co
However, this optimism is tempered by a ‘wariness of macroeconomic and inflationary pressures’
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NewsRate rises of 300% have ‘not been uncommon’ in London’s cyber market
Despite ‘no material change in exposure’, insurers in the London market are wary of cyber risks and are upping premiums by 100% on average, as well as reducing capacity, says broker’s head of cyber
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IT InterviewAventum Group embraces trading London market-based risks via digital platforms
Although face-to-face conversations are crucial in the London market, SME and some simpler risks can be traded through digital platforms ‘to make it easier for agents to access’
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NewsRates for builders’ risk construction cover increased by 5% year-on-year in London market
Higher sub-limits and extension limits for these policies in London give the market ‘a competitive differentiation’, says broker’s head of international construction
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NewsMGA First Underwriting builds new team to launch real estate product
The MGA plans to use its new team and proposition to meet the requirements of niche broker partners, says managing director
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NewsInflation is surmountable with proper provision – Beazley
The specialist insurer has ensured it has sufficient amounts of reserve capital in place, to help it weather economic storms such as inflation
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NewsClaims mitigation strategies offer opportunity for the ‘ultimate’ customer service
Insurers can provide advantages to policyholders by helping them avoid making claims in the first place
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NewsBeazley posts 2022 half-year COR of 87%
The insurer is actively managing ’inflation and recession’, says chief executive
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AnalysisBriefing: Small comfort for insurance industry from FSB report
Sector faces stinging remarks from member organisation about not adequately supporting small businesses – this must be a blow for relationship-centric brokers
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NewsCost of living pressures push uptick in fraudulent property claims – Zurich UK
Fraudsters submitting bogus claims ‘drives up the cost of premiums for everyone’, says detective chief inspector
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AnalysisInsurers must be alert to the threat of physical damage from cyber attacks
Recent cyber attacks on a number of Iranian steel plants evidence the dangers these events can pose to physical infrastructure - this should serve as a warning to insurers
