Commercial Lines – Page 48
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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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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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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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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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NewsLack of affordable cover a ‘significant barrier’ to growth of small businesses – FSB
The cost of insurance should not be excluded from the price of doing business, says board director
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NewsIncreased use of the metaverse could support ‘shift from risk indemnity to risk mitigation’ – Accenture
Use of the metaverse for the insurance sector is “evolving at pace”, says global insurance lead
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NewsInflation contributing to an increased number of aircraft being written off
Repairable vehicles are increasingly being scrapped as the cost of repairs approaches their total value, says aviation portfolio manager
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NewsPIB Group buys Spanish commercial lines broker
The deal marks the broker’s fourth purchase in Spain, reflecting its ‘ultimate goal of becoming one of the most important insurance brokers in the market’
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NewsOnly 26% of small businesses see cyber security as a ‘top priority’ – Direct Line
’It’s important that employees are trained to identify potential points of vulnerability,’ says product manager
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NewsPoor management of climate risks could lead to D&O and E&O claims – Kennedys
Environmental and climate risks can impact ‘all types of insurance policies’ because they are ‘a constant, growing concern’, says law firm partner
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NewsBeazley warns of ‘increasingly complex’ cyber risks
It is essential that organisations understand cyber threats and resulting vulnerabilities, says global head of cyber services
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NewsEmerging BazarCall ransomware targeting small businesses, CFC warns
Most workplaces do not educate staff about social engineering attacks, says cyber threat analysis team leader
