All Claims articles
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NewsAmrae: Cyber insurers in “vicious cycle”
Claims frequency and severity grew substantially between 2019 and 2020, outpacing cyber insurance premium growth
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Japanese owner of container ship stuck in Suez Canal says it has received no compensation claims
Shipping was on the move again late on Monday in Egypt’s Suez Canal after tugs refloated the Shoei Kisen’s 400-metre-long (430-yard) Ever Given which had caused a huge build-up of vessels around the waterway.
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NSW flood claims reach 11,700
SE Queensland floods also declared a catastrophe as large parts of the Hawkesbury-Nepean Valley remain inaccessible
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Spanish snowfall claims to reach €1.8 billion
Storm Filomena brought wintry conditions and cold temperatures not seen in Spain in two decades - Impact Forecasting
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Perth Hills bushfires declared a catastrophe
Bushfires in the north-east Perth Hills region have so far destroyed 81 homes, with insurers receiving over 270 claims worth $40m
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Briefing: Has the drive for transparency come too late to repair reputational damage?
Discussions around greater transparency in policy wordings and clarifying coverage have become a top priority following the FCA’s business interruption test case – is this a ‘better late than never’ scenario or has the hit to the sector’s reputation crippled any chance of forging customer trust?
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FloodFlash pays Storm Christoph catastrophe claim in 9 hours 44 minutes
It means that policyholders can be paid their claim on the same day
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Travelers’ profit beats estimates on investment gains, fewer claims
Travelers has reported a jump in quarterly profit that beat analysts’ estimates on Thursday, helped by an increase in returns from investments and lower catastrophe claims.
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Building resilience against winter storms
Ensure flood plans are up-to-date and any impact from COVID-19 (eg reduced staffing) is accounted for, urges FM Global
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Hiscox response to Supreme Court Judgment
In order to achieve clarity for customers on the application of relevant policies as quickly as possible, Hiscox agreed in May 2020 to assist the Financial Conduct Authority (“FCA”) by participating in the Industry Test Case alongside seven other insurers.
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Airmic hails historic Supreme Court ruling
The Supreme Court ruling opens the door for up to £1.2 billion of business interruption claims
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Trust in travel insurers drops due to Covid-19 pandemic
Meanwhile motor claims reduced by 48% in Q2 2020
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QBE hikes catastrophe allowance by 24% after extreme weather
Premiums could rise after insurer QBE increased its allowance for catastrophic weather claims by almost a quarter following a year of unprecedented weather events in Australia and the United States.
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Norway Landslide Insurance Bill Tops $100 Million
Insurance companies face costs of at least 900 million Norwegian kroner ($107 million) following the tragic landslide in Eastern Norway that is believed to have claimed ten lives.
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Quarter of a billion worth of claimant damages stuck in litigation process – Zurich
Road traffic accident claimants are having to wait for more than a year before being heard in court, finds the insurer’s analysis
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IAG and EQC settle costs from Canterbury earthquake claims
Earlier this month, IAG welcomed an announcement from the Earthquake Commission (EQC) and Insurance Council of New Zealand (ICNZ) outlining changes designed to make natural disaster insurance claims more streamlined for customers.
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Lockdowns expected to bring big drop in claims costs this year, but 2021 predicted to turn negative
Underlying claims inflation, Brexit and the FCA’s new pricing rules could turn underwriting profits red next year, predicts EY
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South African court rules insurer Santam should pay hotel group’s virus-related claim
Globally, firms like Ma-Afrika, forced to close under coronavirus restrictions, have been fighting the rejection of claims made under business interruption policies. In South Africa, insurers say these policies did not apply to government lockdowns.
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Digital adoption rises nearly 20% for Insurance claims, J.D. Power Finds
Insurance claimants’ use of digital technologies continues a rapid march forward. That’s the lesson property and casualty (P C) insurers are learning as claimants have ramped up use of digital channels throughout the claims process during the pandemic. According to the inaugural J.D. Power U.S. Claims Digital Experience Study,SM released ...
