All articles by Katie Scott – Page 41
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NewsLV=GI confirms 300 redundancies following staff consultation
The redundancies are part of LV=GI’s broader restructuring plans, which aim to integrate L&G General Insurance into the business
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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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NewsArch Managing Agency confirms new managing director
The new hire, who has more than 20 years of industry experience, will provide ‘robust management oversight’ says Arch Insurance International chief executive
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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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News‘Challenger’ insurtechs are attracting ‘customers who have never bought insurance before’
Sønr’s chief executive outlines innovative way certain types of insurtechs are pulling in new business
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FeaturesBriefing: The Covid-19 pandemic ‘has become far less of an acceptable excuse for poor service’
While the industry debates service standards during the reign of Covid-19, Insurance Times editor advocates embracing the ‘new normal’ rather than longing for pre-pandemic days
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NewsMore than a fifth of adults trust insurance firms less because of Covid-19
To rectify the negativity surrounding the business interruption test case and the resulting impact on trust in the sector, ‘there is clearly work to be done at an industry level’ says Sicsic Advisory MD
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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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NewsAccidental damage accounts for 48% of all new claims – LV= General Insurance
The insurer links this claim trend to the increase in home working and schooling, with drinks being spilled on technology such as laptops
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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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NewsFraudster to be sentenced at Crown Court for failing to disclose information to broker
The 49-year-old man has been charged with ‘dishonestly failing to disclose information to make a gain for himself’
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NewsMGAs should buckle up for a ‘hard Brexit’ says Clyde and Co
Reverse branching could provide a solution for insurance intermediaries that wish to continue trading in the EEA following Brexit, says law firm partner
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NewsIrish policyholders aged over 70 experience ‘inflated premiums’ for motor insurance
Insurance broker reveals ‘staggering price differentials’ for individuals aged over 70 in Ireland
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NewsNearly half of bike insurance claims in 2020 were for theft – Bikmo
The average claim amount last year for bike insurance was £1,293 says specialist cycling insurer
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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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NewsBrit reports a 5.7% increase in GWP over 2020 despite $232m loss after tax
Group chief executive says there are ‘a number of indicators to give us cause for optimism’, regardless of the ‘significant’ financial impact of Covid-19
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NewsBe Wiser to consult with 280 staff over potential job losses
The move is to ensure the business is ‘ahead of the game and ready to make the most of market conditions when the market bounces back’ says broker chief executive
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IT InterviewStaying relevant is ‘the biggest, most interesting challenge out of this pandemic’ – David Howden
Plus, Howden Group’s chief executive believes the current hard market ‘will certainly sort the wheat from the chaff’
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NewsZurich UK reports 73% drop in business operating profit due to Covid-19
The insurer’s property and casualty business also experienced a 75% decline in business operating profit, however gross written premium for this division grew by 11% year-on-year
