Personal Lines related articles – Page 49
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NewsInflation rate for motor claims settled in 2021 reached 6.2% – WTW
Average claims settlement times in Q1 2021 were two months longer compared to the same period in 2019, says the broker
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AnalysisInsurers must deploy capital ‘confidently’ to solve cyber cover supply and demand imbalance
Demand for cyber insurance has increased - but so has the price
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AnalysisBriefing: Brokers must help Rolex and Patek Philippe owners watch for HNW underinsurance
Some luxury watches have more than tripled in price – even for second-hand watches – meaning that brokers have to be on the ball if they are to help prevent underinsurance for HNW customers
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NewsJust Travel Cover buys London-based travel insurance scheme specialist from insurtech
Existing partnership moves to ‘the next level’ as part of ‘wider company growth strategy’
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NewsFlood Re reports £46m in GWP for 12 months to March 2022
The government-backed scheme hopes to build on the success of its ’Build Back Better’ initiative in the coming year
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NewsNewest OIC performance data show continued decline in claims
The portal is also ‘failing’ to provide access to justice as average settlement times are increasing, according to ACSO executive director
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Sponsored ContentRate increases must be expected as inflation bites – Pearson Ham
Stephen Kennedy, director of insurance pricing at Pearson Ham, explains recent pricing movements in the motor and home insurance markets
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NewsRising cost of living provides ‘opportunity’ for industry to tailor products – Guidewire Software
Ever increasing inflation is causing consumers to choose between putting food on the table or buying insurance - however, the industry is in a key position to adapt products to suit changing demands
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NewsUK heatwave will cause increase in glass claims – Auto Windscreens
’Tracking weather and forecasting peaks and troughs is vital’ for insurers, says commercial and sales director
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NewsFraudulent car insurance fronting grows by 170% between March and May 2022 - LV= GI
To avoid any legal trouble, brokers should help parents understand how to reduce their children’s motor premiums
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NewsAxa Partners reveals multimillion-pound partnership extension with underwriting agency
The underwriting agency’s managing director says that Axa Partners shares its ’key value of putting customers at the heart of everything’
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NewsMotor insurance premiums set to rise 2% this year ahead of 18% uptick in 2023 – EY
Professional services firm predicts that the UK motor sector’s net combined ratio will be loss-making in 2022 and 2023 and that the ‘environment will be tough’
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IT InterviewKaren Beales: OIC portal challenges offer opportunities around legal expenses insurance
The insurer plans to target brokers, providing a ‘mix and match’ of legal expenses insurance and motor cover add-ons
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IT InterviewSteve Gaywood: Cost of living crisis sees insurance customers ‘game the system’ and turn to fraud
Although consumers may be tempted to ‘cut corners’ when it comes to their insurance provision, this will only lead to ‘a false economy’, according to head of counter fraud
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NewsTravel insurance signposting review delayed by FCA
The regulator said that the impact of the Covid-19 pandemic would ‘undermine’ its ability to draw firm conclusions
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NewsPreventative measures key in facing Russia-Ukraine cyber threats – BrokerFest2022
An expert panel at BrokerFest2022 last week discussed why prevention is key in uncertain times
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AnalysisBriefing: More insurers need to think outside the box to mitigate cost of living crisis
Insurers must step into the breach once more to support consumers – but how many are actually willing to reduce monthly installment plan premium uplifts?
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NewsPanellists to question how technology has reshaped insurance at Insurance2025
Expert panel intends to examine how far technology has come in insurance and whether it is delivering what the industry really needs
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AnalysisTravel insurers weather the Covid storm
Amid changing consumer habits and rampant premium upticks, what is really happening in the travel insurance market right now? Insurance Times finds out…
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AnalysisBriefing: The next generation of personal lines insurance is here
App-centric MGAs have the potential to pave a new way of delivering personal lines insurance
