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Category: Insurance News

Flooding To Drive Up Commercial Property Rates – Losses Are Gathering And Ticking Up Due To Rising Claims Activity

The UK commercial property insurance line has been “performed relatively well over the past five years”, but attritional loss ratios are expected …

Banks To Add Further £1bn To PPI Provisions – Lloyds, HSBC, RBS And Barclays To Reveal Hikes In Their Results

The four biggest high street banks will boost their payment protection insurance (PPI) provisions by a combined amount of £1bn, Sky News …

Government Accused Of ‘Stealth Tax’ Over Flood Home Insurance Levy – Government Plans For A Flood Levy On Home Insurance

Government plans for a ‘flood levy’, which could add up to 10% on home insurance bills, is already facing stiff opposition.

Environment Secretary …

Climate Body Calls For Flood Defence Upgrade – Number Of High-Risk Homes To Double In 20 Years If More Not Spent, Report Says

A further £20m a year needs to be spent on flood defences to keep pace with climate change, according to a new …

London Assembly Praises Riot Damages Act Review – Biggs Says Legislation “Crying Out For Reform”

The London Assembly, which oversees Mayor of London Boris Johnson, has welcomed the Home Office announcement that the Riot Damages Act 1886 …

Greek Contagion Threat To Italian And Spanish Insurers – Spanish And Italian Insurers Most Exposed To A Greek Exit But UK, Barring Aviva, Is ResilientItalian And Spanish Insurers Are Most Exposed To A Greek Exit From The Eurozone, Fitch Said Today.

However, most German and UK insurers, barring Aviva and Allianz, are well-insulated from rising risks in the eurozone periphery.

Fitch said: “Future rating …

Insurers ‘Taking Policyholders For A Ride’ Over Hidden Fees – Report Uncovers The Cost Of Making Basic Insurance Policy Changes – Which?

Home and car insurers are charging policyholders “exorbitant hidden fees” for basic policy changes and renewals, according to a Which? investigation.

The consumer …

Which? Exposes Water Companies Over Supply Pipe Insurance – Drain Claim Chief Executive Calls On Watchdog To Take Closer Look At Drainage Insurance Claims Handling

Water companies have been pushing expensive supply pipe insurance despite offering their own free pipe repair schemes, according to a report by …

Flood Fears Grow As Water Level Rises – Environment Agency Issued A Total Of 27 Flood Warnings And 173 Flood Alerts

The Environment Agency has issued a total of 27 flood warnings and 173 flood alerts, as heavy rain has lashed the UK …

Lloyd’s Directors Get 20% Pay Rises – Chief Executive Takes Home £1.4m In 2011

Lloyd’s of London’s chief executive Richard Ward and his executive team have received pay rises of up to 20% for 2012.

This is …

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