All articles by Katie Scott – Page 62
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NewsAviva estimates Covid-19 impact on specialist schemes and brokers as related BI claims reach £200m
Insurer Aviva has estimated that business interruption (BI) claims related to the Covid-19 pandemic will amount to around £200m across its global general insurance portfolio, net of reinsurance.
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NewsHospitality action group to challenge Aviva and QBE on rejected Covid BI claims
Legal firm Mishcon de Reya has reviewed more than 500 business interruption policies submitted by applicants
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NewsCopart UK uses Covid-19 lockdown to focus on business growth and expansion
The salvage company has invested in around 80 new loader trucks for winter
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FeaturesCovid-19 is ‘wakeup call’ for industry to embrace digital transformation
As the world moves away from face-to-face interaction in light of the coronavirus pandemic, it’s time for the insurance sector to fully grasp previously ignored technological tools
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NewsAdmiral records 46% increase in bicycle theft over last seven weeks
Insurer Admiral has reported a 46% increase in the number of bicycle theft claims made over the last seven weeks, while Brits have been enduring the nation-wide Covid-19 lockdown, compared to the same period in 2019.
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NewsInsurers have ‘adequate buffer’ of capital to withstand pandemic shocks says credit rating agency
The agency’s report further highlighted reputational risk as a potential problem
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NewsAviva and Zurich UK among insurers contributing to new industry-wide coronavirus support fund
The fund is supported by members from the ABI, Biba, Lloyd’s and the London Market Group
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NewsBrokers should be careful declaring cover for Covid BI claims
Brokerbility’s chairman further notes the ‘unintended consequences of sloppy underwriting’ and ’boilerplate clauses’ contributing to brokers’ headache around navigating rejected BI claims
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NewsHiscox Action Group has ‘good chance’ of succeeding with legal action
The group’s law firm is planning to launch an expedited arbitration claim against the insurer in the next few days
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IT InterviewClaims is on a ‘big journey’ to catch up with digital revolution says AXA’s Malik
The claims managing director believes the use of data and analytics has been exhausted in pricing, and should instead be used to enhance the customer experience
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NewsFCA invites brokers and policyholders to contribute to BI legal declaration process
Insurance intermediaries have until 20 May to submit materials to the regulator
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FeaturesFraud Charter: Lockdown home working increases risk of insider insurance fraud
Industry leaders discussed how to stamp out insider fraud opportunities brought about by remote working at Insurance Times’s virtual roundtable
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FeaturesFraud Charter: Insurers need to engage with supply chain to avoid fraud temptations
Industry experts are seeing prolonged credit hire periods and fumigation charges within the motor insurance supply chain as a result of the coronavirus pandemic
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NewsAirmic calls on insurers to ‘look favourably on grey area claims’
The trade association believes the ‘interpretation of wording regarding the pandemic’ could cause friction for insurers’ relationships with corporate clients
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NewsFCA orders insurers to support customers in coronavirus-related financial hardship
The range of measures proposed by the regulator are effective from 18 May 2020
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NewsGovernment launches temporary reinsurance scheme to facilitate access to trade credit insurance
The initiative aims to help businesses recover from the economic shocks of the Covid-19 pandemic
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NewsAXA sees 60% decline in commercial and retail motor claims since coronavirus lockdown
The insurer’s claims managing director also reports a ‘spike’ in travel and business interruption claims related to the Covid-19 pandemic
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FeaturesCyber cover is ‘modern-day crime policy’ as criminals switch from physical to digital
Insurance Times explores the relationship between cyber cover and traditional crime policies, looking at how these insurances can work together or where there may be gaps in cover
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NewsAllianz appoints chief risk officer from within the business
The permanent appointment follows a stint on an interim basis
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NewsSRA confirms law firms can apply for professional indemnity extension due to Covid-19
Lawyers struggling to secure professional indemnity coverage in light of the pandemic can apply for extra time
