News

Source Insurance Daily
A clampdown on claims settlements by insurance companies is proving the worth of local brokers, according to Higos Insurance Services’ managing director, Ian Gosden. Tougher economic conditions, an increase in claims generated by “no-win-no-fee” claims companies and a rise in insurance fraud are raising costs for insurers and according to figures from the British Insurance Brokers [Read more...]

Source Insurance Daily
The UK home insurance industry is in good shape but faces a number of challenges and a period of transition, research by Defaqto has indicated. In a new report, the financial services analyst suggests that uncertain economic conditions and changes within the sector have combined to create a difficult climate for insurers. Significantly, the number of [Read more...]

Source Insurance Daily
Commenting on future flood defence investment plans contained in yesterday’s Spending Review, the Association of British Insurers has expressed “disappointment” that spending will not be maintained at current levels, given the scale of the problem and the wider economic benefits provided by flood defences to communities and businesses. The previous Government had committed £2.15 billion for [Read more...]

Source Insurance Daily
Insurance affinity schemes specialist Heath Lambert and RAC have signed a 5 year agreement to launch a household suite of products in 2011. Heath Lambert was selected by RAC due to its excellent track record in affinity partnerships, as well as its strong presence in the households market. Heath Lambert’s panel and home product expertise was utilised [Read more...]

Source Insurance Daily
The Coalition Government is facing calls from AXA to clarify its plans regarding the UK’s flood defence strategy, particularly with regard to funding. The Comprehensive Spending Review (CSR) is approaching, and question marks remain over the money necessary to enact the Flood and Water Management Act, which became law shortly prior to the General Election. Managing Director [Read more...]

Source Insurance Daily
New research conducted by Legal & General has revealed that as many as six and a half million people could be leaving themselves and their homes vulnerable to burglary. By leaving keys ‘hidden’ outside their home (a practice engaged in by 27% of homeowners) individuals make themselves vulnerable to theft and may risk invalidating their insurance [Read more...]

Source Insurance Daily
First Title Insurance has launched the Home Owners’ Protection Policy (HOPP), which it says can provide solicitors with an effective tool to “de-risk” the house buying process, both for clients and mortgage lenders. The new policy can offset losses from a number of risks associated with buying, mortgaging or using a residential property, including fraud, seller [Read more...]

Source Insurance Daily
Gocompare.com is to target the UK home insurance market with a new TV advert featuring fictional opera singer, Gio Compario, played by Wynne Evans. The campaign, which launches on September 18th, across all UK commercial TV channels, features two archaeological explorers who enter an ancient Egyptian burial chamber. They then translate hieroglyphics that say “check out [Read more...]

Source Insurance Daily
Confused.com is warning users of social media sites, such as Twitter and Facebook, that they could eventually face hikes in their home insurance premiums. The move comes after a burglary ring in the US targeted people who checked into Facebook and broadcast the fact that they were absent from home. Before being apprehended, the thieves [Read more...]

Source Insurance Daily
Arc Legal Assistance has been appointed by Aviva to provide household and travel legal expenses to a significant proportion of the insurance giant’s personal lines customers. According to Arc, the deal represents one of the largest contracts of its kind in the UK market, as Aviva currently insures one in five households. The agreement, which took [Read more...]