A short guide to fraud risk »
A "Short guide to fraud risk" is for: anyone who needs to better
understand fraud risks, either across their organisation, or in a
specific business unit; directors and managers who would like to
add value by building fraud resistance into their organisation and
to demonstrate to shareholders, regulators or other stakeholders
that they are managing fraud risks, rather than just reacting to
incidents; and regulators, auditors and compliance professionals
who need to assess the effectiveness of an organisation's fraud
Ministry of Justice Reforms - Seize the opportunity »
The Ministry of Justice Reforms represent a major overhaul in
the way both claimants' solicitors and defendant insurers deal
with personal injury claims arising out of road accidents. Make no
mistake, the changes represent a significant challenge for insurers
but those who are prepared will be well rewarded.
Strategy matters »
If the insurance industry truly believes that claims service is
a differentiator, it follows that claims function should have a
well thought-out strategy that is linked to capability development.
Our research suggests this is not the case.
Snow & ice: claims and blame »
There were days in January which saw news broadcasters focus on
nothing else but the weather. Where the weather report at the end
of the news was previously regarded with little concentration, we
found ourselves keeping our attention fixed for a little longer,
just to see if the country would slip back into the grip of another
big freeze. Creeping into the plethora of snow-based articles and
weather analyses were a few comments from journalists who focused
on the liabilities of those who fail to grit their paths to in
order to allow their postman to be able to deliver mail. But who
really is liable for the slips, trips and skids that happened over
this extraordinary period? Is anyone at fault? The answer,
unfortunately, is not straightforward.
Jacobs v Motor Vehicle Bureau »
Mr Jacobs, a resident of the UK, was seriously injured in a
motor vehicle accident in Spain. The driver of the vehicle that
caused the accident was an uninsured German national who was a
Spanish resident at the time.
Fraudsters don't wear silly hats »
While going about our daily business most of us would recognise
a passing nurse, soldier or policeman. The uniforms give the first
clue; equipment they may be carrying would give a second.
Flood risks and insurance »
Please note: this is a topical update bulletin
written concerning the burst pipes risk resulting from the 2009/10
freezing weather. To view the entire factfile on flood risks and
insurance, please click here.
There was a 60% rise in household claims following freezing
weather in December 2008 and January 2009. Much of this increase
was due to burst pipes causing internal flood damage. In fact
during that winter, more households claimed for damage caused by
'escape of water' than for either fire or theft, according to
insurer AXA. Their research shows that while 57% of homeowners are
worried about a burglary while they are away at Christmas, only 8%
thought a burst pipe might be a problem. AXA says the average burst
pipe claim it paid in the 2008/9 winter was about £15,000.
Typically, the biggest portion of a claim is to repair damaged
ceilings and redecorate rooms, costing on average just under
£11,000. Ruined furniture and possessions cost on average about
Early indications are that the freeze of winter 2009/2010 could
be much worse than 2008/9 or even than the "big freeze" of
You've found me a house; now what about all the extras? »
Many policyholders understandably find the trauma of being
flooded or finding their roof missing very upsetting. Whilst the
insurance industry will typically be dealing with "normal" people,
it will be dealing with them at a very abnormal time of their life.
First class empathy and communication skills are vital. The loss
adjuster and insurer need to be able to see beyond the physical
damage and empathise with the policyholder's devastating