Personall Lines – Page 33
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NewsGreen shoots of insurance growth will take time to bloom – EY
“Insurance demand is among the first to be impacted” by rising cost of living, says UK insurance lead
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NewsMotor premiums up by 8% in Q4 2022 – ABI
Around 40% of all work is now being impacted by delays in car parts
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NewsCompany market outlook for 2023 becoming progressively worse – Fitch Ratings
The firm highlighted that one path to gaining capital is turning to higher investment returns
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NewsVulnerable customers less likely to shop around for home and motor cover – Consumer Intelligence
Almost half (42%) of home insurance customers were revealed to be potentially vulnerable
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NewsWaggel and vet tech firm join forces
The vet tech firm originally launched its app due to rising vet care costs, Waggel’s customers will now have access to it
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NewsProprietary insurance data has influenced changes to Tesla vehicle design – Elon Musk
The US-based billionaire told investors that insurance data had provided a useful feedback loop for manufacturing process alterations
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NewsMotor injury claim numbers fall to lowest since 2018 – ACSO
Court waiting times in the event of a claim, however, are at ‘record highs’ – ‘adding more misery for hard-pressed consumers’, says executive director
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NewsFCA highlights focus areas for Consumer Duty implementation
The multi-firm review from the regulator ‘should be of real concern to the industry’
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NewsUK car insurance premiums soar by 19% in 2022
Insurers should be doing more to help consumers during difficult times, says chief executive
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NewsManifesto 2023: Cost of living crisis heightening underinsurance is a ‘concern’
Standalone cyber insurance is one of the most common products where insureds opt to drop cover, according to Biba’s latest research
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NewsManifesto 2023: Biba calls for compulsory public liability insurance for e-scooters
The broker body has also taken aim at regulation surrounding automated vehicles
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NewsCost of living crisis causes 43% of insurance customers to cancel policies when seeking to cut cover costs
Head of consumer strategy queries whether the industry is doing enough ‘to be the safety net that newly financially vulnerable customers really need’
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NewsMoJ launches consultation on dual discount rates for personal injury claims
It is essential that this ’does not turn into a cost saving exercise that benefits the balance sheet of compensators’, says executive director
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NewsRansomware and cyber war wording innovation named in 2023 tech predictions – DAC Beachcroft
Cyber war endorsements could invite innovation, says the law firm
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NewsFraud experts warn of worrying rise in physiotherapist-driven ‘prognosis creep’ on OIC portal
The time needed for claimants to provide medical reports has increased in some cases, raising the risk of fraud
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NewsRecession and cost of living crisis triggers ‘pandemic of fraud’ – Weightmans
Both financially vulnerable customers and organised criminals are behind the increase, says the firm
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NewsStephen Kennedy: Firms ‘won’t be bored in 2023’ with general insurance pricing
Pearson Ham’s director of insurance pricing states that a ‘fine balance needs to be struck between inflation, competition, demand and growth’
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NewsClimate change, cyber risks and ESG top sector challenges for 2023 – RPC
Climate change, ESG concerns and cyber risks all take their place in the key trends to look out for this year
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NewsRoyal Mail hit by ‘cyber incident’ that caused disruption to international post
Royal Mail has apologised for any inconvenience caused and has also launched a full investigation alongside cyber crime experts
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NewsDirect Line navigating further motor claims inflation
The insurer noted that claims inflation remains a feature of the market
