Underwriting profit in motor insurance for the first time since 1994

Matt Cullen

23 August 2016

1994 was the year when Oasis released their classic Britpop album Definitely Maybe, the Channel Tunnel opened and the average UK house price was just £56,000. It was also the last year that the UK motor insurance sector made an underwriting profit. Until now. Latest figures from the ABI reveal that last year, the UK […]

Guest blog: The rise of drones – taking your business operations to new heights

Fridtjof Detlefs

11 August 2016

Since drones’ inception in the commercial world, every industry is imagining ways in which unmanned aircraft systems (UAS) could transform their business. Insurance is no exception. Insurers are reimagining their claims and underwriting processes to reduce manual interventions for inspections by leveraging drones, thereby improving efficiency and reducing cycle time. According to the Federal Aviation […]

A survivor’s guide to flood resistance

Mary Dhonau

10 August 2016

Home and business owners are regularly told to ‘protect themselves’ from being flooded but how can we do this? Whatever we do to try and protect our homes, we need to remember that we will always remain at risk. During the floods of last winter we saw major flood defences overtopped in Cumbria, and flood […]

5 days in August – five years on, how the shocking 2011 riots led to a modern government compensation system

Mark Shepherd

4 August 2016

This weekend marks an infamous anniversary. Five years ago, between 6 -10 August 2011, riots, looting and violence rocked cities and towns across England. Five people lost their lives. An estimated 13,000-15,000 rioters committed more than 5,000 crimes, including 1,860 incidents of arson and criminal damage. Insurers responded quickly to help business and home owners […]

It’s 350 years since the Great Fire of London and we’ve still not fully learnt its lessons

James Dalton

26 July 2016

The Great Fire of London, which happened 350 years ago this September, destroyed more than 13,000 homes and 87 churches as it blazed for four days. Thousands of timber buildings, crowded together, proved highly susceptible to the flames. If such a fire engulfed the City of London today, we estimate the cost in insurance pay-outs […]

Insurance is all about pooling risk

Matt Cullen

25 July 2016

The CII published last week their second report on ‘Disruptive Influences: The Fintech Revolution’ which looked at a range of issues raised by the increasing amount of data available to insurers. This was a good, wide ranging analysis of the benefits and challenges but inevitably media coverage focussed on the part of the report that […]

Women in Finance Charter: Insurers are leading the charge

Huw Evans

12 July 2016

HM Treasury has published a list of signatories to the Women in Finance Charter and I am pleased to see them say that the insurance and long-term savings industry is leading the charge. Celebrating the Charter yesterday at an event with City Minister Harriett Baldwin and the initial signatories, it was good to see ABI […]