Kwik Fit reports strong sales
by Gill Montia
Story link: Kwik Fit reports strong sales
Kwik Fit Insurance has reported its strongest sales figures for a single day since the company was established in 1995.
The Lanarkshire-based firm saw more than 2,000 new policyholders signing up to the Kwik Fit Insurance brand in just 24 hours, with sales of new car insurance policies topping 1,600, alongside 400 new home insurance [...]
EasyInventory launched to help cut under-insurance
by Richard Kilner
Story link: EasyInventory launched to help cut under-insurance
Research from AXA has recently revealed that Britons under-insure their homes to the monumental tune of £255bn, potentially leading to a great financial burden for those who have to make a claim.
Compiling an inventory has the double benefit of reducing the chances of being under-insured and making it easier to track belongings if a home [...]
Wesleyan launches Private Clients service
by Gill Montia
Story link: Wesleyan launches Private Clients service
Wesleyan is launching a new service aimed at affluent professionals with busy lifestyles.
The mutual has developed a dedicated home, motor and travel insurance offering, promising a more personal approach and flexible cover.
Private Clients Insurance provides immediate cover on newly purchased items, a 24-hour customer call centre based in the UK and an advice service for [...]
MP3 downloads rarely covered by home insurance
by David Masters
Story link: MP3 downloads rarely covered by home insurance
As the money spent by British music lovers on MP3 downloads tops the £1 billion mark, it has emerged that most home insurance policies do not provide cover for music collections purchased online.
Only one in twenty (5%) of people who download music from sites such as Amazon and iTunes know for certain that their digital [...]
Fortis issues frozen pipes advice
by David Masters
Story link: Fortis issues frozen pipes advice
Fortis has launched an advice pack for homeowners outlining the steps they should take to stop water damage during cold weather.
Householders should use the acronym ‘THAW’ to remember the parts of the home that need to be checked in cold weather – Taps, Heating, Attics, and Water, Fortis said.
Fortis advises keeping heating on constantly at [...]
Cumbrian flood claims top £200m
by Gill Montia
Story link: Cumbrian flood claims top £200m
The cost of damage caused by last November’s flooding in Cumbria has topped £200 million.
According to the Association of British Insurers (ABI), its members have handled 36,000 flood and storm damage claims totalling an estimate £206 million, with 60% of the sum relating to business damage.
Interim payments made by insurers to [...]
Abbey enhances Additions home insurance range
by Gill Montia
Story link: Abbey enhances Additions home insurance range
Abbey for Intermediaries is alerting mortgage brokers to the fact that they could be losing out on a market potentially worth £30 million in sales commission this year, if they fail to exploit the general insurance market.
The lender suggests intermediaries can supplement their business revenues by cross selling insurance products to homeowners, and by way [...]
Insurers and restorers need to renew trust
by Gill Montia
Story link: Insurers and restorers need to renew trust
SJS Consultancy is calling for more transparency between insurers and restorers, in the hope of simplifying and improving the claims process, and making a significant difference to the environment.
The company specialises in damage management and restoration, and founder Stuart Simpson notes: “For some years there has been an increasing lack of trust between the [...]
Freezing weather sees water damage claims soar
by David Masters
Story link: Freezing weather sees water damage claims soar
Householders are being warned to keep their homes warm during the current freezing weather or risk having their property flooded by burst water pipes.
Research by Virgin Money found burst water pipes and “escape of water” accounted for 15% of claims between December 2008 and November 2009.
The average amount paid out for these claims was £3,000, [...]
Marsh offers firms winter survival strategies
by Gill Montia
Story link: Marsh offers firms winter survival strategies
Marsh has come up with a check list for organisations struggling with the UK’s freezing winter conditions.
The broker and risk adviser has outlined a number of actions aimed at protecting staff, the public and assets, while at the same time maintaining services.
Some key areas covered by the firm are as follows:
It is worth running a [...]
M&S launches green home insurance reinstatement option
by Gill Montia
Story link: M&S launches green home insurance reinstatement option
M&S Home Insurance is claiming to be the UK’s first home insurance provider to offer policyholders the opportunity to reduce their impact on the environment, should they make a claim.
The company has introduced a “sustainable reinstatement” policy for kitchen appliances, meaning that when a policyholder claims for a fridge, freezer, washing machine, tumble dryer or [...]
New guidelines for online GI sales
by Gill Montia
Story link: New guidelines for online GI sales
The Association of British Insurers (ABI) has published a Good Practice Guide aimed at insurance comparison websites, insurers and brokers selling general insurance online.
According to the Association, over two-thirds of customers are now using the Internet to arrange their motor insurance alone, and the guidelines should help consumers better identify the right policy for their [...]
New technology to enliven home contents market
by Gill Montia
Story link: New technology to enliven home contents market
Enservio is predicting that 2010 will be “the year of contents” in the US, as insurers roll out new products to enhance their offerings.
The Boston-based firm, which provides contents inventory, valuation and replacement services and software, argues that homeowner products have been a “loss leader” in the past ten years.
It blames the decade-long trend on [...]
Groupama rolls out Hunter
by Richard Kilner
Story link: Groupama rolls out Hunter
Groupama Insurances has announced that it is rolling out Hunter, the award winning fraud prevention solution, across all its household and commercial businesses.
The move follows the successful implementation of Hunter throughout the firm’s motor and fleet applications and claims earlier in 2009.
Hunter is based on the web and involves sharing data from insurers and financial [...]
jml insurance websites offer HomeLet Landlord’s Insurance+
by Richard Kilner
Story link: jml insurance websites offer HomeLet Landlord’s Insurance+
HomeLet’s Landlord’s Insurance+ has become available on the jml insurance websites.
The new product offers a broad range of coverage including buildings insurance, contents insurance, and Prestige Rent Guarantee which covers legal expenses and rental payments for up to a year.
John Boyle, MD of HomeLet, has said that the Landlord’s Insurance+, created with deep consultation with [...]
Comet Replacement Services launches mobile voucher service
by Gill Montia
Story link: Comet Replacement Services launches mobile voucher service
Comet Replacement Services (CRS), which provides insurers and loss adjusters with product replacement support, has launched an SMS voucher service that speeds up the claims process.
Using mobile voucher redemption technology developed by Eagle eye Solutions, Comet vouchers can now be delivered to any mobile handset via a text message.
The message contains a ten digit [...]
Insurers face record fire claims
by Gill Montia
Story link: Insurers face record fire claims
The Association of British Insurers (ABI) has reported that the cost of fire damage in the UK has risen to record levels.
During the first half of the year, insurers paid out £639 million, or £3.6 million a day, for damage caused by fires.
The figure is at its highest ever for a comparable period and [...]
Burst pipes a priority for Christmas travellers
by Gill Montia
Story link: Burst pipes a priority for Christmas travellers
AXA is urging homeowners to consider their plumbing, as the Christmas break approaches.
According to the insurer, around 35% of Britons will be away for a few days over the Christmas and winter holiday period, when burst pipes can be a bigger threat to belongings than burglary.
During December 2008 and January 2009, more people claimed for [...]
Sterling increases rates for HNW individuals
by Gill Montia
Story link: Sterling increases rates for HNW individuals
Sterling Insurance Group has announced that it will be increasing premium rates for high net worth clients at renewal, from 1st January 2010.
Wealthy clients can expect a 7.5% hike on clean risks, excluding any increases applicable to add-on covers, with a further 3% direct debit charge on selected products.
The insurer says the rises are [...]
LV= warns against criminal Christmas
by Richard Kilner
Story link: LV= warns against criminal Christmas
Home insurer LV= has commissioned research which reveals that 35% of Britons will be shopping using online auction sites and marketplaces this Christmas.
Worryingly, four in ten have indicated they would not take issue with purchasing potentially stolen goods if the price was suitable.
Most common amongst stolen goods sold online are electronic devices such as iPods, [...]
