Household – Page 10
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NewsAround 800 UK accidental damage claims per year are dog-related – Aviva
Home insurance policies usually have exclusions for pet-related damage, including chewing, scratching and fouling
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NewsYoung renters struggle to afford cover amid financial pressures
UK general insurers therefore have a key role to play in preventing the decline of household penetration rates
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Sponsored ContentInsurance prices remain uncertain following FCA rule change – Pearson Ham
Stephen Kennedy, director of insurance pricing at Pearson Ham, reviews how the FCA’s general insurance pricing reform is bedding in after coming into force from 1 January 2022
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AnalysisBriefing: FCA shows its ineptitude with buildings insurance
The FCA has been warned on numerous occasions there was an issue, but it failed to act
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AnalysisBrokers have a ‘key role’ following latest Scottish fire safety legislation
Five years on from the Grenfell Tower incident, and fire safety legislation is still being rolled out, the latest measure from the Scottish government, however, places brokers at the forefront of customer education
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NewsFCA’s fair value set to impact new business for insurers – GlobalData
Data and analytics firm believes that there is ‘good evidence’ that FCA’s fair value regulations have affected insurers pricing strategies already
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NewsHome and motor premiums experience ‘stark’ uptick following FCA rule change
Market research firm finds that premiums in these lines of business have experienced the biggest one-month jump in eight years as a result of the FCA eliminating price walking
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AnalysisInsurers brace for claims as Storm Eunice batters UK
UK insurers put surge plans in place ahead of Storm Eunice hitting last week, but commentators agree that improved infrastructure resilience is the long-term answer as extreme weather events are on the up
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NewsComparetheMarket names storms as most common weather damage claim
There is a policyholder knowledge gap about the risk of local flooding, the aggregator reports
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NewsEnd of dual pricing ‘calls time’ on unfair customer treatment – Honcho
The insurtech’s chief executive says the regulation marks a ‘new dawn’ and ’a whole new era across personal lines’
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NewsShed and outbuilding home office thefts up 43% as lockdown eases – LV=GI
November and December 2021 saw the highest numbers of burglary-related claims, reported the insurer
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AnalysisFCA’s pricing rule change means 2022 is brokers’ ‘time to shine’
A service driven market centred around fair value, rather than price, could mean 2022 is brokers’ ‘time to shine’, despite product governance compliance being ‘one of the biggest challenges’ for broking firms
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NewsRSA injects multimillion pound investment into its home claims team
The insurer hopes the move will enhance its service for building claims requiring major construction work
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AnalysisUK’s changing climate will drive industry focus on innovation and risk management
Brokers that can help businesses with “training, monitoring and being ready” ahead of potential flood damage can ensure their commercial clients have a “massive differentiator”
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NewsManifesto 2022: Biba urges UK government to slash IPT to 10% in next Budget
The trade body further believes that IPT relief should be offered for cladding-linked property insurance, telematics-based motor policies and cyber cover
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NewsNew Scottish fire safety legislation could invalidate home insurance policies
The new legislation is set to come into force on 1 February 2022 in Scotland requires interlinked smoke alarms to be fitted by this date
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NewsCustomer retention tops insurers’ concerns following FCA pricing changes – Trustly
Three-quarters of businesses have admitted to planning premium increases to balance policy figures following the last deadline of the FCA’s pricing reform
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NewsGoCompare and Coplus team up on home insurance initiative
The aggregator’s chief executive hopes the initiative will ’help people’s understanding of excesses in a general policy’
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IT InterviewProperty claims inflation and digital support tools will continue to impact claims sector in 2022
Tackling property resilience following flooding presents ‘a lot of opportunity’ for insurance industry this year, while digital tools target ‘hyper-convenience’, notes Zurich’s UK chief claims officer
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NewsAviva inks five-year deal with Basildon-based MGA
The deal builds on the pair’s existing motor and non-standard home partnership
