Aon urges insurers to cut back on claims information

Aon urges insurers to cut back on claims information

Aon urges insurers to cut back on claims information

Aon’s global chief claims officer Neil Harrison has urged insurers to cut back on some of the claims information they demand from clients, which is causing mounting frustration and increasingly delaying payouts in the hard market. He said that reducing data requests to those items specifically needed to assess coverage and quantum will remove frictional costs from the claims process…

Time to really focus on claims

Time to really focus on claims

Time to really focus on claims

The very reason why insurance is purchased by individuals and businesses is to ensure that they are ‘covered’, at least financially, when a nasty or unexpected event occurs. The efficient management and payment of claims is therefore the most important service that insurers and their partners in the market, such as brokers, loss adjusters and lawyers, can offer their customers. Sadly, all too often…

Claims as a USP for insurers

Claims as a USP for insurers

Claims as a USP for insurers

Adrian Ladbury interviews Renske Franken-le Clercq, head of claims – central region, Liberty Specialty Markets, about the insurer’s claims strategy and what it has to offer customers in a positive way in this tough period in the market. He also asks about the impact of Covid-19 on the claims environment. Adrian Ladbury (AL): Claims departments were once regarded as a back-end…

CPRI market rising to the challenge on claims says BPL

CPRI market rising to the challenge on claims says BPL

CPRI market rising to the challenge on claims says BPL

The specialty credit and political risk insurance market (CPRI) continues to pay claims in this increasingly complex and volatile global economic and political environment. But the full impact of Covid-19 on this specialty sector has yet to be fully felt, says London-based broker BPL Global. BPL publishes an annual report on the CPRI market that shows a positive picture in…

Claims and loss prevention in sharp focus for marine community during pandemic

Claims and loss prevention in sharp focus for marine community during pandemic

Claims and loss prevention in sharp focus for marine community during pandemic

Despite the interruption of global trade brought about by Covid-19, the international maritime sector has experienced a worrying level of claims activity during this period and the International Union of Marine Insurers’ (IUMI) recent annual press call was dominated by the topic of claims and loss prevention. The pandemic has had a direct impact on marine claims trends, with stockpiling…

Hard market leading to spike in demand for claims help from corporates

Hard market leading to spike in demand for claims help from corporates

Hard market leading to spike in demand for claims help from corporates

France-based international loss-surveying group Erget has reported a rising level of demand for help with claims from corporate risk managers and the middle market, as they grapple with the impact of the hard market and higher retentions. David Vigier, former group director, business development and partnerships at Sanlam Pan Africa, and group corporate risk manager at Europcar Mobility, joined privately-owned Paris-based…

From cradle to grave

From cradle to grave

From cradle to grave

BELFOR, a leading restoration and recovery company, recently announced the appointment of David Cooper as head of environmental services at its UK operation. Adrian Ladbury asked Mr Cooper about his new role, the trends he sees in the environmental field and how the group’s new integrated service will help risk managers do a better job. Adrian Ladbury (AL): What were…

Overpromising and underdelivering on climate ambitions could lead to D&O claims, warns lawyer

Overpromising and underdelivering on climate ambitions could lead to D&O claims, warns lawyer

Overpromising and underdelivering on climate ambitions could lead to D&O claims, warns lawyer

Companies must be careful not to overpromise and underdeliver when it comes to climate change adaptation, warned a lawyer at a Commercial Risk webinar. Risk managers were warned that climate-change litigation is on the rise and directors and officers face a very real threat of direct action in the future if they are not careful. Speaking at the webinar titled…

Concerns mount over claims in hard market

Concerns mount over claims in hard market

Concerns mount over claims in hard market

Claims are becoming more difficult in the hard market, with mounting concern that problems caused by buyers using multiple insurers to try and build scare capacity in some lines will only worsen, according to risk managers and brokers. Members of UK risk and insurance management association Airmic report rising claims disputes as the ‘harsh’ market intensifies. Almost half of insurance…

German court refers GDPR material damage claim to ECJ

German court refers GDPR material damage claim to ECJ

German court refers GDPR material damage claim to ECJ

Germany’s Federal Constitutional Court (FCC) has passed a potentially groundbreaking decision, on whether an individual needs to prove material damage caused by the unsolicited use of their personal details to obtain compensation under GDPR rules, onto the European Court of Justice (ECJ). If the ECJ decides that an individual does not have to prove material damage when a so-called data…