Commercial Lines articles – Page 77
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NewsControl systems are in cyber criminals’ crosshairs, warns report
The London market has been warned it needs to better understand the rising threat of cyber attacks to industrial and manufacturing facilities, as criminals switch their focus to find new ways to extort and disrupt businesses
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NewsAston Lark expands construction offering with new industry buys
Group chief executive says the firm’s latest purchases will help it continue to ‘grow in construction insurance’
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News AnalysisBI claims set to place ‘huge burden’ on loss adjusters following Supreme Court ruling
As well as new business interruption claims, many loss adjusters and assessors are also seeing an influx in ‘resurrected’ claims that have been awaiting the appeals judgment before being progressed
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News AnalysisAllianz Holdings describes communication with brokers as ‘great success over 2020’
Chief executive says virtual methods have allowed the insurer to stay in touch with brokers ‘to a greater extent’
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NewsABI members predicted to pay £2.5bn for Covid-19 claims incurred in 2020
The ABI’s director general believes the industry needs ‘to learn lessons from this unprecedented event’
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FeaturesAllianz Insurance exposed to BI claims through broker wordings
Chief executive adds that the insurer has seen 3,000 new business interruption claims following the Supreme Court’s judgment in January
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NewsAllianz Insurance sees 5.6% drop in GWP due to Covid-19 impact
The insurer says the total impact of coronavirus-related business interruption claims is £175m, net of reinsurance
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NewsMotor insurance premiums predicted to fall by up to 10% in 2021 – PWC
Home insurance premiums are also expected to decrease by 4% to 8%, says the professional services firm
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NewsRock Insurance Group reveals new underwriting agency
The underwriting agency looks forward to building successful broker partnerships
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NewsCGI Insurance completes rebrand as Partners&
Partners& chief executive says CGI was the ‘perfect fit’
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NewsPIB Group-owned Cobra Network ranks Aviva as insurer partner of the year
Cobra Network Underwriting Agencies and Zurich are also recognised within the network’s annual member survey results
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NewsLloyd’s warns syndicates of ‘increasingly high risk’ cyber attack threats from Internet of Things devices
Lloyd’s worked in partnership with CyberCube and Guy Carpenter on its new report for syndicates, designed to support their understanding of emerging cyber risks
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FeaturesFirms exposed to underinsurance as reputation becomes ‘massively growing risk issue’
Reputation-related insurance products are expected to become a ‘staple’ within the next five years as this risk becomes a rising agenda item for businesses
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NewsRegulator warns capital markets will need to be part of future BI provision
The future provision of business interruption insurance is likely to require the use of alternative risk transfer solutions given the lessons learned from Covid-19
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NewsBuilding Safety Register reveals new manifesto
The Building Safety Register’s co-founder hopes the manifesto will provoke wider discussion over the implications of building safety for the insurance market, as well as highlight risk management measures
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NewsSimply Business selects insurtech MGA as health insurance provider for new proposition
The first phase will see the insurtech unveil its health insurance plan for the self-employed
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FeaturesStandardisation: a route to greater transparency or ‘stifling’ for competition?
Standardising policy wordings may be considered a ‘dangerous road’ by some in the industry, but could some standardised elements support the push for improved transparency and policyholder understanding?
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News AnalysisLockdown mitigates claims impact of Beast from the East II
Policyholders staying at home during lockdown are better able to combat potential escape of water claims resulting from the recent snowfall, but commercial clients may still be at risk following lockdown-induced business closures
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NewsDemand for commercial property insurance quotes drops by 49% - Quotezone
High street takeaways were tipped as being the most resilient for this line of insurance
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NewsBiba backs government’s extra £3.5bn cash injection to address cladding dilemma
The trade association will continue working with government to deliver a targeted, state-backed indemnity scheme
