Flooding
Flood grant could give rise to rogue trading, claims Trust Mark
Insurers are being advised to liaise with loss adjusters and local authorities to ensure flood-hit homeowners do not get ripped off by rogue trades when using the government’s £5000 repair and renewal grant.
Masojada urges changes to 'flawed' Flood Re scheme
Hiscox chief executive Bronek Masojada has heaped further criticism on the government’s “flawed” Flood Re scheme following the firm's full year 2013 results.
Flooding and drying - busting the myths
by Alan Dobson, director environmental claims division at QuestGates
Insurers care and so do the buyers of insurance
by Edwin Bos, vice president innovation, Reevoo
Axa UK on track for 96% COR by 2015, claims CEO Evans
Axa UK and Ireland group chief executive Paul Evans is confident the business will achieve a combined operating ratio of 96% by 2015 after pointing to an improving motor COR of 99.1% as an indication transformation plans are paying off.
Business transformation bearing fruit as Axa UK GI COR dips below 100%
Axa UK and Ireland’s general insurance business recorded a combined operating ratio of 98.9% in 2013, despite reserve strengthening contributing 0.8 percentage points and a reduction in revenues to £3.7bn (2012: £3.8bn).
VAT waiver for flood victims could be a boon for insurers
Insurers could see lower claims costs from the recent flooding if the government decides to apply a reduced rate of VAT to renovation and repairs for affected properties, according to accountancy firm Baker Tilly.
Watson cautious on potential rate rise as Ageas suffers £20m flood loss
Ageas UK chief executive Andy Watson has poured cold water on expectations household rates will undergo an imminent rise in light of ongoing flooding, which has so far cost Ageas £20m.
Tulloch’s flood defence funding plan fails to generate industry support
Analysts say insurers are unwilling to invest in defences without clear returns.
Insurers to supply experts to PM’s flood grant scheme
Insurers have agreed to supply a team of technical experts to work with the government on a scheme to provide grants to flooded home and business owners at today’s Downing Steet flooding summit.
Penny Black's Insurance Week - 20 February 2014
Penny was most pleased to learn last week that rumours of the right honourable Jack Straw’s demise had been greatly exaggerated.
C-Suite: Broker: After the horse has bolted
According to a recent BBC report, the South East and Central Southern England had a record 175.2mm of rainfall in January – beating the previous record of 158.2mm, set in 1988.
Which? demands end to premium rate customer lines
Which? has renewed calls for the insurance industry to bar the use of premium rate phone lines for customers.
JBA releases highest resolution GB flood model
JBA Risk Management has updated its Great Britain flood model to provide greater precision than ever previously possible.
Flood Re exceptions 'perverse' says Masojada
Hiscox chief executive Bronek Masojada has claimed that his insurer is keen to see all Flood Re exemptions abolished, not just those for homeowners at the top end of the council tax range.
One in six households face Flood Re exclusion, claims Hiscox
Hiscox is seeking urgent talks with government ministers ahead of the Water Bill passing through parliament, after claiming one in six households are currently excluded from Flood Re.
KPMG warns of long-term flood impact
The economic impact of the recent flooding could be felt for at least two to three years, KPMG has warned.
Tulloch to kick-start flood funding talks after visiting policyholders
Aviva UK chief executive Maurice Tulloch has played down suggestions the insurer should channel funds earmarked for UK infrastructure investment into improving flood defences, but has vowed to act as a facilitator for industry talks with government on…
100mph winds forecast for North west England and Wales
The Met Office has issued its highest level warning for the first time this winter in response to forecasts of extremely strong winds in Wales and North west England.
Insurers urged to direct infrastructure investment into flood defences
MP’s suggestion comes as PWC warns recent flooding could cost sector £500m.
Interview: Dan Saulter: Hitting the ground running
When Dan Saulter was announced as chief executive at Davies, many in the market were surprised. He explains why he is the right man for the job and why the recent swathe of storms held no fears for him.
Met Office warns of 'danger to life' across Southern England
The Met Office has issued 16 severe flood warnings in South west and South east England this morning, warning that water levels represent a danger to life in the regions.
UK floods tipped to cost industry close to £500m
PWC has estimated weather-related damage in December 2013 and January this year could cost the insurance industry up to £500m.
ABI kick-starts Flood Re CEO recruitment process with job ad
The Association of British Insurers has started its search for the chief executive of Flood Re and will be advertising the position in this week's Sunday Times.