All articles by Katie Scott – Page 54
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NewsCoronavirus lockdown causes 0.3% decline in home insurance premiums
However, average premiums for this line of business has increased by 3% over the last 12 months
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NewsInsurers unveiled 107,000 fraudulent insurance claims in 2019
This equates to a new insurance scam being uncovered every five minutes, totalling around 300 fraudulent claims a day
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NewsTreasury initiates next five-year review of Pool Re
A new Review Advisory Group, composed of chief executives from member insurers as well as other stakeholders, will oversee the project
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NewsABI records 48% decline in motor claims between 2020’s Q1 and Q2
However, the value of claims being paid has climbed by 27% - the largest reported quarter to quarter increase
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NewsCapsicum Re to rebrand in order to align with broader broking business
Gallagher’s broking and underwriting chief executive describes this change as the ‘next iteration’ of the business as it looks to ‘realise the magnitude of untapped opportunity that lies ahead for our reinsurance team’
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NewsHome and motor insurers’ Covid-19 support pledges extended to October
ABI says that the insurance industry has a ‘vital role’ to play during the pandemic, acting as the ‘final safety net for customers’
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NewsCarriers need to merge data to reap cyber insurance benefits says RAND Corporation
Combining application and claims data can help insurers identify the best security controls for their policyholders
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IT InterviewCovid car buying habits lead to demand for new insurance products says Copart UK boss
The coronavirus outbreak continues to alter the motor insurance market as policyholders’ driving behaviours, car purchase patterns and claims reflect changed road usage. Insurance Times gets the details from Copart UK’s managing director
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News'Doxing' identified as an ‘evolving threat’ within cyber risk landscape
Furthermore, data breach severity has increased over the past year, with a heavy focus on the healthcare and pharmaceutical sectors
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NewsGallagher and Pen Underwriting swap chief operating officers
The month-long handover process will commence from 1 September
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FeaturesHow data is transforming home insurance for a Covid-19 world
New data sources and data enrichment is helping the home insurance market become fit for purpose amid a Covid-19 landscape, where the home is so much more than a place to lay your head
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News AnalysisFirst half financial results littered with Covid-19 complications
Insurance Times looks across insurers’ H1 financial results, revealing the initial impact of the coronavirus pandemic on business bottom lines
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NewsFCA investigates 165 Covid-19 scams
Financial services firms and banks have been targeted by fraudsters during the coronavirus pandemic
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IT InterviewClaims Excellence Awards 2020: Claims teams showcase successes to be in with a chance of award win
Insurance Times catches up with the four finalists in the Claims Team of the Year category for this autumn’s Claims Excellence Awards, finding out the key attributes that make an award-winning team and why these firms feel their claims staff stand head and shoulders above the competition
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IT InterviewAmbiguity in BI policy wordings is ‘natural’ following ‘black swan’ Covid outbreak
Accenture’s managing director for general insurance believes now is the time ‘to do a more holistic and proactive review’ of insurance contracts to remove ambiguities surrounding potential ‘black swan’ events
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NewsPolicies will need to adapt to changing risks brought about by Covid says analytics firm
Products designed for the risks of remote working will become commonplace moving forward
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NewsEcclesiastical hit by £59.7m loss due to Covid-19 impact
The insurer’s chief executive describes the headline loss as ‘disappointing’, attributing it to the ‘uniquely challenging’ circumstances arising from the coronavirus crisis
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FeaturesBrokers need to engage business owners to combat underinsurance in a hard market
In a worse case scenario, brokers could face professional indemnity claims if their commercial clients are vastly underinsured. Insurance Times takes a closer look at the issue of underinsurance and how brokers can help tackle it
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FeaturesCyber Focus: Data exfiltration boosts ransomware risks with reputational threats
Brokers need to adopt a proactive role in assessing commercial clients’ digital security as cyber insurance morphs into a hybrid of preventative risk management services and responsive claims investigation to tackle evolving cyber threats
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NewsLancashire broker joins Ethos Broking
The new addition plans to use Ethos Broking’s resources to aid its growth plans
