On the 27th February, the then Lord Chancellor and Justice Secretary, Elizabeth Truss announced an unexpected change that caused a major shock. With little warning, the Discount Rate used to calculate serious personal injury compensation payments was reduced from 2.5% to minus 0.75%.
Allianz UK has today launched its significantly enhanced construction proposition to brokers to achieve further profitable growth in this key insurance sector.
Allianz Insurance has announced that John Berry has been appointed to the role of director of underwriting and technical, personal lines.
Allianz Legal Protection (ALP) has launched a new partnership with leading South West law firm Tozers Solicitors LLP. ALP will provide After the Event (ATE) insurance on a range of personal injury and clinical negligence case types to protect customers against the disbursement and adverse cost risks associated with litigation.
The Excellence in Claims (EiC) programme is celebrating its 10 year anniversary since the initiative was accredited by the Chartered Institute of Insurance in 2007.
Brokers are facing a number of challenges, with everything from regulation and technology disruption through to the unavoidable issue of “demographics” putting the sector’s future at risk.
Given all the challenges, brokers need to build on their existing skills. The hallmarks of successful brokers are about being entrepreneurial, specialist and progressive and putting themselves and their clie
National series of school festivals aim to tackle inclusion Allianz has formed a partnership with Youth Sport Trust (YST), a national charity, to deliver 20 ‘Dare to Believe’ Festivals with more than 100 primary schools and over 2000 young people, to tackle attitudes and perceptions to special needs and disability among young people.
Allianz Legal Protection (ALP) has partnered with leading UK law firm, Lime Clinical Negligence Solicitors, to provide After the Event Insurance with the added benefit of ALP’s Paid as Incurred Disbursement (PAID) model.
High net worth insurance specialist, Home & Legacy, has announced Kathryn Fryer has been appointed to the role, operations director.
It's claims Jim, but not as we know it!
Ok, my Star Trek analogy might not be the best, but imagine the scene. Your car's involved in a collision and needs to be repaired. Rather than call your insurer to make a claim, the vehicle communicates directly with your insurer's claims department, the garage and your digital personal assistant to validate the claim and arrange a convenient time for th
Allianz UK (Local) Financial Results
Q1 2017
Q1 2016
Gross Written Premium
£545.0m
£547.3m
Operating Profit
£37.5m
£ 47.4m
Combined Operating Ratio
96.7%
95.9%
The change to the Discount Rate had a £58.3m impact on the company’s existing reserves which resulted in a restatement of the 2016 financial results on a local basis. The effect of the change was to reduce t
The Association of British Insurers’ announcement that motor insurance premiums hit their highest recorded levels at the end of last year is another reminder that change is long overdue in the personal motor market. That’s coming but will it be enough? First up is the Prisons and Courts Bill, which seeks to bring premiums down by around £40 a year by tackling the whiplash epidemic. This will see a
