The insurance sector in the United Kingdom and Ireland has demonstrated remarkable financial growth over the past year, as detailed in Lane Clark & Peacock's (LCP) eighth annual Solvency II review. This comprehensive study scrutinizes data from 100 of the largest non-life insurers in the region,
In a significant legal move, Cardinal Timothy Dolan of New York announced that the Archdiocese of New York has filed a lawsuit against its longstanding primary insurance company, Chubb. The lawsuit alleges that Chubb is attempting to evade its legal and moral obligations to settle claims related to
The UK property insurance market is at a crossroads, grappling with multiple challenges ranging from high inflation and supply chain disruptions to the ever-growing risks associated with climate change. It’s not an understatement to say that efficient claims management may very well hold the key to
In the rapidly evolving insurance industry, innovation in risk assessment and management stands as a pivotal theme. The integration of cutting-edge technologies and methodologies, particularly through the work of industry experts like Paraskumar Patel, is transforming how insurers evaluate and
The modern economy is a complex, interwoven tapestry of factors influencing business operations, financial markets, and societal behaviors. Two significant drivers coming to the forefront are intensified legal scrutiny on corporate activities and escalating climate concerns. This article delves
The Vehicle Risk Rating (VRR) system, developed by Thatcham Research, is set to overhaul the current car insurance framework by providing a more precise and dynamic assessment of vehicle-related risks. Billed as a significant advancement over the traditional group rating system, VRR offers an
