Home insurance premiums remain stable despite flood fears and tax increases August 30, 2016 Insurance premiums have not spiked as was feared following the flooding that blighted parts of Britain earlier this year. The latest research shows that annual premiums have increased just 1.6 per cent for the year to July. Furthermore, these price changes include the increase in insurance premium tax in November 2015 from six to 9.5 per cent. In addition there [...]
Wandsworth council seizes more than 100 oBikes for “blocking pavements” August 5, 2017 Bike sharing company oBike faced yet more disagreements with London local authorities today, this time after Wandsworth council seized more than 100 of the fleet of bikes. In a blog post put on the Wandsworth council website last night, the council said it had removed 130 bikes since oBike launched in London in July. It [...]
Proof that it is always a struggle to second-guess the insurance market: home and contents premiums are going down August 18, 2016 It feels like only yesterday that we were treated to pictures of politicians wondering around looking rather uncomfortable in wellies and anoraks as they looked concerned at swollen rivers, flooded houses, football pitches and farmland. That prompted the launch of reinsurance scheme Flood Re and also gave George Osborne a good reason to put a further 0.5 per cent [...]
Storm Desmond’s floods could cost insurers between £175m and £250m, says PwC, highlighting the need for continued investment in flood defences and insurance mechanisms, such as Flood Re December 7, 2015 Audit giant PwC has pegged the estimated insurance costs of flooding caused by Storm Desmond at around £175m to £250m. Based on its analysis of the costs of the previous floods, the professional services firm also estimated today that the total economic costs would be £400m to £450m. Top figures at the firm also said that [...]
Flood Re secures £1.29bn in first phase of reinsurance tender process, putting it on track to accept first policy in April 2016 November 18, 2015 Flood Re, a reinsurance body aimed at limiting the cost of flood insurance for high-risk households, has secured £1.29bn in phase one of its reinsurance tender process, it was announced today. This figure means the project is on track to secure £2.1bn by early 2016, allowing it to accept its first policy in April 2016. “Flood [...]
Direct Line zooms to top of FTSE 100 after generous special dividend announced and profits beat expectations August 2, 2016 Direct Line Insurance Group raced to the top of the FTSE 100 today, after the insurer announced a generous special dividend and profits zoomed past analyst expectations. The figures Profit before tax for the insurer fell to £298.5m for the first half of 2016, down 5.2 per cent from £315m the year before, after investment returns failed to [...]
They’re already a way of life for tens of thousands of people, but are water cities the answer to climate change, rising sea levels and the housing crisis? September 25, 2018 How do you solve a problem like the Houses of Parliament? The neo-Gothic palace, parts of which are nearly a thousand years old, is crumbling and MPs voted recently to decant to another building for around six years – most likely to nearby Whitehall – while refurbishment works are carried out. So far, so [...]
Many questions remain unanswered – and unconsidered – on access to financial services, finds report published by watchdog May 24, 2016 The financial industry is not asking the right questions to address problems with access to services, a report published by the Financial Conduct Authority (FCA) today argues. The study cautions that those organisations which could help to improve the financial services marketplace need to be more strategic in their approach and urges stakeholders, including the government, regulators [...]
Aviva hikes dividend by 10 per cent as operating profit rises 13 per cent – but combined operating ratio deteriorates August 4, 2016 Insurance giant Aviva has hiked its dividend after posting "encouraging" results for the first half of 2016. The figures Operating profit was up 13 per cent to £1.33bn, from £1.17bn last year, with operating earnings per share up one per cent to 22.4p, from 22.1p in the first half of 2015. General insurance net written premiums [...]
Natural disaster insurance payouts double after highest losses for four years January 4, 2017 Devastating earthquakes and powerful storms meant insurance firms forked out $50bn (£41bn) to settle disaster claims in 2016. The settlements were almost double the $27bn paid by insurers in 2015, according to an annual review by reinsurance behemoth Munich Re. Globally, an average of just 30 per cent of losses were covered by insurers meaning total losses for [...]