Which? has referred to as on the Monetary Conduct Authority to take robust motion towards corporations over claims dealing with failures, arguing customers are affected by “important hurt”.
The buyer champion’s in-depth evaluation of the claims-handling course of discovered 48% of all individuals making a declare about residence, journey motor and pet insurance coverage skilled at the least one drawback of their claims journey.
Issues have included customers having to repeatedly chase insurers for info on their case and insurers not figuring out and responding appropriately when individuals have been struggling because of the incident that led to the declare.
Third events
These issues have been flagged as significantly
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UK pricing continues down – Marsh
Insurance coverage charges within the UK fell 3% within the second quarter of 2024, persevering with on the downwards trajectory from the earlier three months, based on the newest analysis by Marsh.
IFB warns of increasing danger as ghost broking rises 6%
UK insurers reported a 6% rise in ghost broking exercise on social media final yr, based on the Insurance coverage Fraud Bureau because it warned the specter of individuals being duped would proceed to extend with the expansion of economic pressure.
SRG adds second acquisition to its MGA this year
Specialist Danger Group has agreed to purchase Trilogy Underwriting, a specialist property and casualty managing common agent, so as to add to its MX underwriting pillar.
Acturis continues personal lines push with Covéa
Acturis has partnered with Covéa to make the insurer’s House IHP product obtainable on its platform, including to the beforehand rolled out motor providing.
OneAdvent partners with Bridgehaven in capacity deal
OneAdvent has struck a take care of Bridghaven Specialty UK that may see the hybrid fronting insurer present A-rated capability to managing common agent Criterion to underwrite waste administration and recycling dangers.
Interview: Tim Smyth, Bspoke
Bspoke Group CEO Tim Smyth tells Insurance coverage Age about reaching profitability and increasing with brokers by means of natural progress, hires and new merchandise in addition to acquisitions.
Bexhill UK partners with Acturis on premium finance
Bexhill UK and Acturis have partnered in a full API integration of Bexhill’s premium finance system and Acturis’s insurance coverage broking system.
Next deal on the horizon for Bspoke
Bspoke Group has “signed heads” on its subsequent deal, with an announcement to come back ‘in weeks’, CEO Tim Smyth has advised Insurance coverage Age.
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