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Revealing a range of data on claims payments and funds under management, the ABI’s latest key facts are led by the figure of £452 million which it says is paid every day to customers in the UK. […]
Banks, insurers and other financial services firms across Europe face extra VAT costs running into £100 millions in the UK alone, following an ECJ judgment today. The ruling means services supplied between a group’s headquarters […]
Insurance lawyers today welcomed news that the Government will address the issue of variations in the Discount Rate, but warned against any alteration which could hit the public purse. David Johnson, the President of the Forum of […]
Natural catastrophes caused total economic losses of US$41bn, well below the US$59bn in H1 2013 and the average first-half year loss of the previous 10 years (US$94bn) […]
Around 39% of global economic losses sustained during the first half of 2014 were covered by either private or government-sponsored insurance programs, slightly above the 10-year (2004-2013) average of 30%, highlighting that a greater proportion of disaster losses occurred in regions with higher insurance penetration. […]
Insurers and brokers have painted an optimistic picture for the sector, with a majority predicting strong growth over the next five years and a surge in the prospects of life/critical illness and health insurance lines. […]
According to the latest sigma study, global insured losses from natural catastrophes and man-made disasters were $45 billion in 2013, down from $81 billion in 2012. Of the 2013 insured losses, $37 billion were generated by natural catastrophes, with hail in Europe and floods in many regions being the main drivers. […]
The British Property Federation (BPF) has welcomed a change to Flood Re scheme which will see leasehold properties in blocks of three or fewer flats included, but has warned that this still does not offer security to a high number of homeowners […]
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