Insurer estimates hit £750m as city riot damage racks up – Insurance News Now
Post reporter Callum Brodie outlines this week's major general insurance stories which include how RSA, Aviva and Axa are likely to incur the biggest losses from commercial property claims, based on market share, as the latest riot bill estimate hits £750m.
As the full damage from four days of violent disturbances becomes clear, insurers are reassuring customers that their claims will be met, but urge them to get in contact as soon as possible.
In other news, Mitsui Sumitomo has enticed an underwriting duo from Catlin to spearhead its regional mid-market push in the Midlands; leading analysts have warned insurers that the industry is not a "safe haven" for investors, despite share prices falling less than the stock market average of 5.5% since the US credit rating downgrade on Friday; Chartis UK has blamed the high volume and cost of claims for its decision to stop writing new solicitors' professional indemnity business this year - but has not ruled out reversing its policy in the future; and Giles has vowed to protect jobs "where possible" following its £5.1m acquisition of Manchester-based broker CBG.
Keep up to date with all the latest insurance news as it breaks at postonline.co.uk.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Broker
Hiscox CEO Hussain reveals plan to rollout AI underwriting
Aki Hussain, CEO of Hiscox Group, has said to thrive in 2025 insurers should “think the unthinkable” about their business models and revealed his plans to roll-out artificial intelligence augmented underwriting.
Climate activists target Marsh’s Manchester office
Climate protesters entered the lobby of Marsh’s Manchester office on Wednesday (8 January) calling on the firm to reject fossil fuel projects and become “climate heroes”.
Stark asbestos risk in UK schools brought into focus
Jonathan Edwards, head of insurance and risk at HCR Law, warns insurers and brokers they need to move from passive monitoring to proactive risk mitigation in order to prevent hundreds of thousands of teachers and pupils dying as a result of asbestos present in UK schools.
Impact of foreboding on the forecourt on insurance
Jeremy Irving, partner at Browne Jacobson, unpicks the potential impact of a Court of Appeal ruling on commission disclosure for the general insurance industry.
Diary of an Insurer: Miller's Alice Glenister
Alice Glenister, head of parametric solutions at Miller, juggles various tasks, meetings, and aims to ensure a trip to Houston is productive.
Broker Review of the Year 2024
Brokers were pleased with M&A activity in 2024 but ticked off by disproportionate regulation, capacity exiting the market and artificial intelligence failing to live up to expectations.
Ardonagh valued at $14bn following investment from Stone Point Capital
The Ardonagh Group has secured an equity investment from funds managed by US-based private equity firm Stone Point Capital LLC.
Insurance Post’s Christmas Special Podcast
Post content director Jonathan Swift, news editor Scott McGee and Emma Ann Hughes, editor, ditch the usual format of our publication’s award-winning podcast to deliver a holly, jolly Christmas Special.