Flooding
Experts tackle factors driving claims complaints to five-year high
The industry needs to make it clear to consumers why premiums are rising according to specialists at the Association of British Insurers’ annual conference.
Rating factors ‘fundamentally discriminatory’, according to Stella’s Sam White
Experts at the Association of British Insurers’ annual conference have urged that everyone working together is what will improve the poverty gap.
The stats: Hard market remains - but for how much longer?
Property and fleet rates remain stubbornly high as shown by the latest Q4 figures from the Acturis Commercial Lines Index, Rachel Gordon reports.
Biba sets out triple push to government ahead of Spring Budget
The British Insurance Brokers’ Association has called for insurance premium tax cuts, increased flood defence spending and apprenticeship levy reform in the government’s Spring Budget.
Biba unveils ‘Managing risk for growth and economic security’ theme for 2024 manifesto
The British Insurance Brokers’ Association has called for a proportionate regulatory framework that can facilitate growth as it unveiled its 2024 manifesto, ‘Managing risk for growth and economic security’.
The stats: Q3 hit by rocketing property owners and fleet rates
The latest figures from Acturis show that commercial insurance premiums continue to rise, resulting in an increasingly challenging environment for brokers and their clients, reports Rachel Gordon.
Parametric climate risk insurer Arbol launches UK MGA
US-based parametric climate risk specialist Arbol has expanded internationally by launching a new, London-based managing general agent.
Axa UK backs Labour Party pledge to appoint a Minister for Resilience
Axa has welcomed Labour’s commitment to appoint a Minister for Resilience if elected to Government at the next election.
Flood Re names Bridget Rosewell as chair to succeed Mark Hoban
Flood Re has appointed Bridget Rosewell as non-executive director and chair-designate to succeed outgoing Mark Hoban, taking up the chair post at the end of September.
Flood Re on Build Back Better broker education drive
Brokers have engaged with Build Back Better, and want to communicate the benefits to clients, Flood Re CEO Andy Bord has confirmed, as the mutual reinsurer outlined plans to help educate the sector.
Flood Re policy numbers grow to more than 265,000
Mutual reinsurer Flood Re covered 265,826 policies in the year to 31 March 2023 – a 3.6% rise on the previous 12 months.
Experts call on brokers to take action as climate change drives shift in flood risk
Flood insurance specialists have urged brokers to stay on top of how they can help clients as the number of natural catastrophe weather events in the UK continues to increase due to climate change. Ida Axling investigates.
Build Back Better? More needs to be done first to make clients aware of risks
As trusted local experts, brokers are well positioned to make customers and clients aware of flood risks and help them better prepare, asserts Ian Gibbs, national technical manager, Sedgwick.
Flood Re launches training resource to support Build Back Better
Flood Re has produced a targeted training resource for the insurance market, to drive a deeper understanding of the Build Back Better scheme within insurance companies, managing general agents, brokers and throughout the claims supply chain.
Opinion: Now is the time to demonstrate the value of insurance
With the recent raft of insurance results, the personal lines sector is very much under the spotlight. Mike Crane, LV Broker managing director and L&G General Insurance CEO, offers some thoughts on how to navigate 2023 and beyond.
UK insurance protection gap improved to 17% in 2022, Swiss Re says
The UK was hit by $900m (£732.6m) of economic losses from natural catastrophes such as storms and flooding in 2022, with insurance covering $800m of the total, according to Swiss Re.
Biba eschews stuffing manifesto with simple, low hanging fruit, says White
The British Insurance Brokers’ Association’s manifesto is not a “bellyache” document but one full of solutions, CEO Steve White told Insurance Age.
Analysts warn of further hit to UK property insurance market in 2023
Increasing weather-related claims and soaring rebuild costs will damage the profitability of UK property insurers this year, according to analytics company Globaldata.
Covea, Hiscox and RSA commit to Build Back Better
Covea, Hiscox and RSA have all committed to help the UK adapt to the changing climate by joining Flood Re’s Build Back Better scheme.
NBS Underwriting targets the third sector with combined package product launch
NBS Underwriting has rolled out its combined package product, Community Enterprise, and revealed a capacity deal with Axa on non-standard household policies.
Biba encourages brokers to use its flood directory
The British Insurance Brokers’ Association has encouraged brokers to use its flood directory to ensure eligible households that are denied flood cover can still be offered it.
Worries remain on subsidence but claims volume still uncertain
Earlier this month LV released figures showing that subsidence cases were up by 205% between June and July, and warned that they were likely to increase even more.
Two-fifths of London businesses at risk of flash flooding
Research by Zurich has revealed that two-fifths of London businesses are at risk of being hit by flash floods as heavy rainfall is predicted to hit the capital.
Experts warn clients will look elsewhere if brokers ignore parametric insurance
Specialists have highlighted the benefits to brokers of delivering parametric insurance to their clients and warned they will lose out if they do not engage with the fast-expanding offering that is becoming more mainstream.