At a glance Customers may not appreciate the wide range of factors that insurers must consider when calculating premiums This can cause frustration if premiums change and do not meet a customer’s expectations To help you in discussions with your customers, we update some of the key factors that can influence their insurance premiums A wide variety of factors affect Read More…
Author: Tom Wood | Date: 12/05/2017
Author: Tom Wood | Date: 03/05/2017
Are you ready for a cyber-attack?
Categories: General
Cyber threat is one of the most significant risks facing UK businesses and is on the increase. Government figures in 2015 revealed 81% of large businesses and 60% of small businesses had suffered a cyber security breach. Cyber claims statistics from 2013 – 2016 show cyber extortion and ransomware to be the fastest growing cybercrimes. Ransomware From 2013-16 encryption ransomware Read More…
Author: Tom Wood | Date: 26/04/2017
Car insurance personal injury shake-up will cost the taxpayer £5.6billion, spending watchdog reveals
Categories: General
Ministry of Justice’s changes will hit taxpayers by £5.6bn over next five years Association of British Insurers has already registered a protest against change The Government feels it is necessary to reflect lower investment returns It will consider ‘whether there is a better or fairer framework for claimants’ The government’s spending watchdog has revealed that the shake-up on car insurance Read More…
Author: Tom Wood | Date: 18/04/2017
Insurance premiums on the increase…
Categories: General
On Monday 27th February 2017, Lord Chancellor and Secretary of State of Justice, Liz Truss, announced that those affected by medical negligence, car crashes and other incidents will receive more money following changes to the way lump sum pay-outs are calculated. This has triggered predictions by insurance experts that premiums could rise dramatically. The measure relates to a calculation called Read More…