A little round up of insurance related news from around the world. And Darlington.
H&H BROKERS ARE PACKING `EM IN
Darlington based H&H are now offering alpaca cover. A one of its kind insurance product for the 45,000 alpacas across the UK, ‘Insure My Alpaca’ has now been launched as the new brand of the former Armitage in-Livestock. This online Alpaca insurance, https://insuremyalpaca.co.uk/, provides customers with an almost instantaneous quote and is designed to meet the needs of the growing Alpaca industry across the UK.
H&H Insurance Brokers have worked with specialist underwriters to ensure that this tailored product offers protection in the case of mortality or theft, as well as for the risks inherent in travelling to exhibitions and shows.
ABACAI BUYS DAYINSURE
Abacai/Complete Cover Group has made its first acquisition, snapping up Cheshire based DayInsure. The specialist brokerage covers those one-day trips to deliver a car, drive a mate’s car if you’re thinking of buying it, or holiday cover so that two people can share driving duties on a week long road trip.
Over in India, Riskcovry has raised $5 million in Series A funding, says the Economic Times. The company provides platforms and eco-systems so that insurers and brokers can simply `plug and play’ as regards new products. Riskcovry sees a rapid exapnsion in the online insurance market across India following the pandemic and with under 20% of the adult population buying ANY insurance, there is certainly lots of room for growth.
DIXIE CHICKS SUE LLOYDS
The band formerly known as the Dixie Chicks – now just plain Chicks as the word Dixie is obviously offensive to the Woke generation – are suing Lloyd’s of London for failure to pay out on their cancelled tour. The band are arguing that their tour cannot be rescheduled as it would then fail to capitalise on the release of the new album, wittily entitled Gaslighter. There’s more background on the case on the Law 360 website here.
T H MARCH REFRESHES BRAND
Well known jewellery insurer T H March has refreshed its website and re-positioned itself slightly, as the jewellery trade moves online, and the Swiss watch boom continues. Now the accent is much more customer focussed, rather than than trade, which is wise given that many physical jewellery shops will close in the next six months or so, when furlough finally runs out.
By the way, Rolex now accounts for about 50% of ALL new luxury watch sales at the Goldsmiths group, so the opportunity is there for an online broker to offer AI powered valuations based on shop receipts, auction prices realised and owner photos. Not just a £50 valuation certificate from a jeweller, which is at the end of the day, an opinion – not an actual price realised.
DOG THEFT IS OFF THE CHAIN
South Yorkshire Police recently introduced officers on the beat – yes walking about – to try and stop gangs of men stealing dogs, and then selling them online. The pandemic has sparked a boom in pet ownership and that has offered new opportunities to dognappers, keen to sell on fashionable brands.
It isn’t just celebs like Lady Gaga at risk. Simon Bailey, Chief Constable of Norfolk recently told an online audience that his own dog was stolen and the local paper reports that 52 dogs were reported stolen in 2020 to Norfolk Police. Thieves are reportedly approaching dog walkers and asking if their dog is for sale, or using whistles to attract the dog if it is off the leash on open land or a beach.