Brokers witness unprecedented surge in riot-related enquiries - Insurance News Now
Post senior reporter Amy Ellis outlines this week's major general insurance stories which include the news that property insurance enquiries from businesses have soared by up to 200% in parts of London and Manchester.
Brokers as far apart as Tottenham and Salford have spoken of an "unparalleled" upsurge in the number of uninsured businesses seeking cover in the wake of last month's rioting and looting.
In other news: Water claims firm the Property Consortium Drainage has warned cowboy drainage firms could cost insurers dear when responsibility for drains switches from home-owners to water companies; Ai Claims Solutions is set to lobby MPs with a four point plan to reform the referral fees system in place of what it considers costly and time consuming legislation of an outright ban; and Lloyd's first half year results will be adversely affected by this year's unprecedented level of catastrophes and could see its combined operating ratio hit 100%.
Keep up to date with all the latest news as it breaks at www.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
Government to consult on leasehold commission ban
In a written statement published yesterday, the Minister of State for Housing, Communities and Local Government has said the government “will go out to consultation very shortly on the detail of the Act’s ban on buildings insurance remuneration”.
Ex-BGL CEO Thompson joins Open GI as chair
Former BGL Insurance CEO Peter Thompson has joined Open GI as the organisation’s chair.
Diary of an Insurer: Clear’s Claire Thompson
Claire Thompson, senior corporate account handler and hybrid account executive in the broking and sales team at Clear Doncaster, walks her Springer Spaniel, tackles CrossFit plus prepares for being a full-time account executive.
Big Interview: Clarissa Franks, Lockton
Clarissa Franks, head of UK retail for Lockton, speaks to Scott McGee about her first year at the broker, the joy of not being “tied up in numbers and margin”, and shares how her team is “doubling down” to achieve growth.
FCA bans and fines broker £1.1m for misusing funds
The Financial Conduct Authority has banned Leigh Mackey from working in financial services and fined him £1.1m for misleading the FCA and misusing funds due to insurers.
Jensten names group CEO as Hardie steps down
Alistair Hardie is stepping own as group CEO of Jensten, as he looks to pursue a number of non-executive opportunities elsewhere.
Convex’s Brand urges rivals to stop moaning about brokers’ profits
Paul Brand, CEO of Convex, has told carriers to focus on harnessing technology to drive down their own operational expenses rather than wishing brokers would charge less.
Howden rolls out pilots to increase efficiency
Carl Shuker, UK & Ireland CEO for Howden Insurance Brokers, has outlined three examples of how the broker has increased efficiency within its operations.