Fire
East West Insurance enters administration as tower block fire safety claims mount
The High Court has put structural defects specialist East West Insurance Company, which purchased a portfolio from Zurich in 2018, into administration and appointed Ernst & Young as administrators.
Blog: Why sprinklers should be mandatory in schools
Schools have a fire risk almost twice as high as other non-residential buildings, yet are poorly equipped to prevent a fire becoming a major disaster, according to new research by Zurich. Tilden Watson, Zurich Municipal head of education, explains why…
Lockton accused of forging Axa documents in High Court fraud case
Property investor Aubrey Weis has accused Lockton of forging Axa documents and altering an insurance certificate issued to his company Combined Property Control in a filing at the High Court of Justice in London.
Analysis: Beirut blast – cost of humanitarian crisis could top $10bn
The explosion in Beirut, Lebanon at around 6pm local time on Tuesday 4 August tragically killed at least 157 people and wounded another 5000, with more than a hundred still missing as rescue efforts continue.
Concerns grow over fraud and arson increase due to Covid-19 lockdown
Financial hardship caused by UK-wide lockdown is contributing to increase in fraud and arson, warn loss adjusters.
Perils pegs Australian bushfire losses at A$1.86bn
Perils has pegged insurance and reinsurance industry losses for Australian bushfires at A$1.86bn (£1.03bn)
180 Years of Post: Corporate collapses
As Post celebrates 180 years, we look at the companies that have come and then very quickly gone and ask what today's insurers can learn from them.
Analysis: What next for arson?
The Arson Prevention Forum, an organisation designed to bring together relevant parties to share ideas, good practice and trends on the fight against arson, has hit pause on holding meetings. Post investigates why and what next where it comes to tackling…
Analysis: The parametrics push powers on
Parametrics has been around for a while but a slew of new entrants means it is now poised to make its mark on UK general insurance
Blog: The measure of indemnity in property damage loss?
Mike Ledgerton, head of major loss at Questgates, reflects on the Court of Appeal decision in Endurance Corporate Capital Ltd v Sartex Quilts & Textiles Ltd., which has potentially far reaching consequences to the measure of indemnity.
AIG 58 Fenchurch Street fire claim against roofers and RSA gets go ahead
A judge has ruled in favour of AIG in its application to substitute the named claimant on its claim against roofers and RSA, allowing the property damage claim to go ahead.
Insurers praised for postponements on unoccupied premises clauses
As many businesses hit one month out of their offices and workplaces insurers have been praised for their response to unoccupied premises clauses in buildings insurance.
Budget 2020: IPT stays the same as government bolsters flood defence spending
Insurance Premium Tax has remained at 12% in today’s Chancellor’s budget, as the government pledged to boost spending on flood defences.
Allianz UK operating profit drop driven by 'large number of factors': Jon Dye
There was “a very large number of factors” behind the significant drop in operating profit at Allianz UK in 2019, according to CEO Jon Dye.
Operating profit down one third at Allianz UK
Allianz UK has reported profit of £138.1m for 2019 supported by investment gains as operating profit fell.
Analysis: 19th Century insurance frauds
Scandal, fraud, deception and rabid profiteering have never been far away from the insurance industry. Indeed, it is probably fair to say they have been uneasy bedfellows ever since the modern insurance industry started to lay its foundations in this…
Australian insurers face further losses of A$514m as hail hits the country
Insurance losses resulting from severe weather conditions from 19-21 January in Australia, are estimated to be A$514m (£269m), according to the Insurance Council of Australia
Australian regulator warns of insurance scammers in wake of fires
Australians whose property has been damaged by the ongoing bushfires should beware of “fictitious or unscrupulous tradespeople, repairers or firms offering to assist them with their insurance claim”, the Australian Securities and Investments Commission…
Australian bushfire insurance losses surpass £500m
Insured losses resulting from bushfires ravaging the Australian states of New South Wales, Victoria, Queensland and South Australia are estimated to have reached A$995m (£524m), according to the Insurance Council of Australia.
This week in Post: Back to business
With the holiday break over, this week has seen people across the UK – some somewhat sluggishly – get back to business.
Australian insurers face bushfire season losses of £228m
Insurance losses resulting from months of deadly bushfires in Australia are estimated to be A$431m (£228m), according to the Insurance Council of Australia.
Covea's Adrian Furness on pursuing a career in insurance
Historically people have 'fallen' into insurance rather than seeking it as a career. Adrian Furness, chief operating officer at Covéa Insurance, asks if this is changing.
Axa's Jon Walker on why it takes three to make the market work
In a hardening market, competition is tough to place property and casualty risks. Now more than ever, brokers need to work closely with insurers and customers on claims prevention and risk management, writes Jon Walker, executive MD of Commercial…
Ogden rate, large losses and claims inflation knock Allianz UK COR in Q3
Allianz reported operating profit of £100m for the year to date in its Q3 results, with its combined operating ratio slipping to 96.5% from 95.7% at the half year.