Daily Insurance Industry News
 
 
Daily Insurance Industry News
Friday 20th of April 2018
July 27, 2012

Uninsured homes on the rise

by Richard Kilner

Story link: Uninsured homes on the rise

New research from The Co-operative Insurance has revealed that almost a fifth (18%) of UK adults lack home insurance and are therefore financially exposed to the risks of burglary and other hazards. The incidence of no insurance is twice as prevalent for the under 35s, 36% of whom lack it. More than half (52%) of […]



July 24, 2012

RSA partners John Lewis Insurance

by Gill Montia

Story link: RSA partners John Lewis Insurance

RSA has been appointed to provide pet, wedding & event and home insurance for John Lewis Insurance, following a competitive tendering process. The insurer will begin underwriting wedding & event and pet products from today and home insurance from January 2013. RSA personal lines managing director, Mark Christer, comments: “John Lewis Partnership is deservedly one […]



July 12, 2012

Ombudsman warning on legal expenses insurance

by Gill Montia

Story link: Ombudsman warning on legal expenses insurance

A YouGov survey commissioned by the UK’s legal ombudsman reveals that 74% of respondents didn’t know or were unsure what financial cover their legal expenses insurance provided, while 89% didn’t know or were unsure which legal services were excluded under the terms of the policy. The findings have prompted the UK’s chief legal ombudsman, Adam […]



July 10, 2012

ABI calls for updated Riot Act

by Richard Kilner

Story link: ABI calls for updated Riot Act

The Association of British Insurers (ABI) has warned that whilst insurers reacted rapidly to the rioting that engulfed London last year the riot compensation scheme has failed too many Londoners. The most recent figures show that just over half the 3,487 claims made by Londoners for property damage compensation have been either rejected or discontinued. […]



June 21, 2012

Music festival thefts drop but values rise

by Gill Montia

Story link: Music festival thefts drop but values rise

Crime figures obtained by Aviva show that possessions worth £225,000 were stolen at last year’s summer music festivals. In 2011, there were 1,101 reported incidents of thefts at eleven of the top UK festivals and according to police records, the average value per theft stood at £354. Research by the insurer also reveals that 12% […]



June 20, 2012

RSA renews Clydesdale and Yorkshire Bank partnership

by Richard Kilner

Story link: RSA renews Clydesdale and Yorkshire Bank partnership

Global insurer RSA has announced a five year renewal of its partnership with Clydesdale and Yorkshire Banks. As part of the reaffirmed deal, RSA will provide Clydesdale and Yorkshire Banks with Home and Motor insurance. Managing Director of Affinity at RSA Mark Allan said that the firm was proud to have renewed its partnership with […]



June 18, 2012

Nationwide launches new home insurance products

by Richard Kilner

Story link: Nationwide launches new home insurance products

Nationwide Building Society has launched a pair of home insurance products: Nationwide Home Insurance and Nationwide Home Insurance Essentials. The building society’s customers will now be able to select the level of coverage and premium that best fits their particular needs. Independent financial research company Defaqto has rated Nationwide Home Insurance with 5 stars and […]



June 14, 2012

L&G launches “Interactive House”

by Gill Montia

Story link: L&G launches “Interactive House”

Research from Legal & General (L&G) suggests that less than a quarter of homeowners are clear about what is and isn’t covered under their home contents insurance, while only one in five are likely to know exactly what their buildings insurance covers. To help consumers get a better grasp, L&G has launched an “Interactive House” […]



May 29, 2012

Gallagher Heath offers cover for pancreatic cancer suffers

by Gill Montia

Story link: Gallagher Heath offers cover for pancreatic cancer suffers

Gallagher Heath has teamed up with Pancreatic Cancer UK to provide a service to people affected by the condition, as well their carers and other supporters of the charity. The package includes travel, home and motor insurance. The travel product can cover an entire party on one policy with premiums based on each individual’s declaration […]



May 28, 2012

Brands stolen to order in new crime wave

by Gill Montia

Story link: Brands stolen to order in new crime wave

Research by criminologists commissioned by LV= claims that 5% of burglaries committed last year were carried out by criminals who steal specific brands “to order”, with the trend having increased significantly in the past five years. Apple, Samsung, Sony, Microsoft and Dell are the most commonly “ordered” brands as they can be sold on easily […]



May 24, 2012

Some progress on flood insurance

by Richard Kilner

Story link: Some progress on flood insurance

Caroline Spelman, the Defra secretary of state, has told the Association of British Insurers (ABI) that the beginning of a solution to flood insurance has been found. In order for flood insurance to remain available and affordable a comprehensive replacement for the Statement of Principles on flood insurance needs to be created, and whilst this […]



May 23, 2012

ABI calls for overhaul of Riot Damages Act

by Gill Montia

Story link: ABI calls for overhaul of Riot Damages Act

The Association of British Insurers (ABI) is calling for an overhaul in the Riot (Damages) Act 1886, which allows compensation to be paid by police authorities to victims who suffer loss or damage following a riot. According to the ABI, the intention of the 126 year-old legislation remains relevant but current arrangements have led to […]



April 20, 2012

Trustworthy neighbours top for home security

by Gill Montia

Story link: Trustworthy neighbours top for home security

One in four homeowners believe that trustworthy neighbours are the key to feeling secure at home, according to the latest consumer survey from the Association of British Insurers (ABI). However, the research also suggest that many are putting themselves at risk needlessly, with nearly three in ten respondents admitting to leaving doors unlocked and windows […]



April 19, 2012

HomeServe fined £750k for silent calls

by Gill Montia

Story link: HomeServe fined £750k for silent calls

Ofcom has today fined HomeServe £750,000 for making an excessive number of silent and abandoned sales calls. The watchdog opened an investigation into the home emergency insurer last year only to discover that the firm exceeded its abandoned call rate on 42 separate occasions between 1st February and 21st March 2011, resulting in around 14,756 […]



April 18, 2012

Average monthly income gap over £400

by Gill Montia

Story link: Average monthly income gap over £400

Britons face an income gap of £411 per month between their current net income and what they believe would allow for a comfortable life, according to new research from Aviva. The insurer’s latest “Times of our Lives” report puts the perceived shortfall at £7,236 per year gross, although the 25 to 34 age group felt […]



April 16, 2012

Which? campaigns on insurers’ hidden fees

by Gill Montia

Story link: Which? campaigns on insurers’ hidden fees

Which? is claiming that some home and car insurers are taking consumers for a ride by charging exorbitant “hidden” fees for basic policy changes and renewals. The consumer group reviewed the terms and conditions on the websites of 39 car insurers and 34 home insurers only to find that there are often costly fees to […]



April 2, 2012

AXA advises DIYers to check their coverage

by Richard Kilner

Story link: AXA advises DIYers to check their coverage

With Easter approaching and three-quarters of Britons due to do a little DIY around the home, AXA is warning of costly accidents as claims are expected to spike on Easter Monday. The Easter break is expected to see 71% of people doing DIY or maintenance around the home, but AXA has warned that the 50% […]



March 24, 2012

Which? finds fault with aggregators

by Gill Montia

Story link: Which? finds fault with aggregators

Which? is claiming that the price you see isn’t always the price you pay, when it comes to buying insurance through aggregator sites. Having tested out 11 of the most popular sites, Which? found many of them using pre-selected answers and assumptions in their online forms and the consumer group warns that this can lead […]



March 22, 2012

Britons endlessly searching for stuff

by Gill Montia

Story link: Britons endlessly searching for stuff

New research from esure home insurance claims that the average Briton misplaces almost 200,000 items over a lifetime. If so, Brits must be used to searching for about nine items per day, with mobile phones, house keys, car keys, and important paperwork and documents the most commonly misplaced items. Hairbrushes, gloves, clothing, umbrellas, books, train […]



March 12, 2012

Outdoor thefts set to increase

by Gill Montia

Story link: Outdoor thefts set to increase

Aviva is reminding homeowners to secure their sheds and garages as British Summertime approaches. Analysis of 10 years of the insurer’s claims data reveals that thefts from gardens and outbuildings shoot up by over a quarter when the clocks go forward, with the average haul totalling around £850. Children’s toys, bikes and garden tools are […]