Property insurance payouts hit record quarterly high
Insurers paid £1.4bn in claims for property damage during the second quarter of the year, according to the latest data from the Association of British Insurers (ABI).
This is a quarterly high since the ABI started collecting the data in 2017 - and a 5% increase on the first quarter of 2024 when pay-outs hit £1.3bn.
The average payout per home insurance claim was
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 Personal
Crash for cash crooks collide with justice
Keoghs and Aviva have secured custodial sentences against four fraudsters who targeted an elderly motorist and staged an accident.
Insurers must embrace rather than resist motor OEM disruption
Delegates at the Insurance Innovators conference were told to welcome fresh competition from original equipment manufacturers, and that they don't have a "God-given right" to be the only ones to sell insurance.
FCA takes trio to court for arranging vacuum cover
The Financial Conduct Authority has started criminal proceedings against three individuals accused of arranging insurance cover for vacuum cleaners without the regulator’s permission.
ManyPets exits US market
ManyPets has exited the US market to focus on the UK, after exiting the Swedish market last year.
Mass’s Sue Brown on what to expect from Labour
Trade Voice: Sue Brown, chair of the Motor Accident Solicitors Society, looks at whether the Labour government might usher in a sea change on civil justice issues.
Portion of buildings underinsured falls to six-year low
The percentage of UK buildings that are underinsured has fallen to its lowest level for at least six years, but remains “unacceptably high”, according to data from valuations provider Rebuild Cost Assessment.
Tesco merges insurance and money services following Barclays sale
Tesco has sold its banking operations to Barclays, the firm confirmed this morning in a press release.
How the FCA could address premium finance failings
Marc Maxfield, risk and regulation expert at PA Consulting, explains what steps the regulator could take to reduce profiteering from premium finance plus how insurers should prepare for the watchdog's probe now.