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Insurance industry call government to extend Flood coverage

Insurance industry call government to extend Flood coverage

April 21st, 2014

Pressure is mounting on government officials to backtrack on plans to exclude the most expensive properties from the new national flood subsidy fund after insurers withdrew their support for the exclusion. The Association of British Insurers has written to Owen Paterson, environment secretary, to call for more properties to be protected under the Flood RE scheme. Officials at the Department for Environment, Food & Rural Affairs said that the ABI’s intervention would n...Read More

FCA inquiry launched

FCA inquiry launched

April 10th, 2014

Britain's financial regulator has appointed an independent lawyer to lead an inquiry into how it prematurely disclosed details of a review of the insurance industry, which in turn sent shares in insurance firms plunging last month. The move follows complaints from the insurance industry body, which called on the Financial Conduct Authority (FCA) to learn lessons from the incident, but stopped short of demanding the removal of senior staff. When some of the review's detail...Read More

Counting the Cost of Storms

Counting the Cost of Storms

March 7th, 2014

Insurance claims following storms and flooding over Christmas and New Year have hit £426m, with more expected, an insurer's group said. Insurance companies have received 174,000 claims for damage to homes, cars and businesses amid bad weather between 23 December and 8 January. The floods are still a serious problem and claims continue to arrive. The Association of British Insurers (ABI) said the cost was expected to grow as a result. "Insurers are playing a crucial r...Read More

New Provider for High Risk Public Liability Insurance

New Provider for High Risk Public Liability Insurance

January 17th, 2014

Herald Insurance are pleased to announce that we have secured a new provider for high risk Public Liability Insurance, Commercial Combined, and Security Insurance. This is an exciting time for us as we have even more options for our clients.  We can now cater for higher liability limits and sums insured with a wider range in professional activities. Some Key Features and Benefits include: Employers Liability limit of £20m Public Liability limit of £10m Business I...Read More

Counting the Cost of Flooding

Counting the Cost of Flooding

January 9th, 2014

Home owners who have suffered from the flooding this winter are being reassured that their properties will still be insurable – but they are likely to face increased premiums. There is an agreement in place that means insurers are obliged to offer flood insurance to their existing customers, and this has been commented on by the Association of British Insurers “Insurers will do everything they can to help customers recover from flooding and ensure flood insurance rema...Read More