Insurance Industry

From WikiCorporates
Jump to navigation Jump to search
ToDo: Top Global Insurance Cos (2019), Who Owns Your Insurer? (2007), Category:Insurance industryWikipedia-W.svg, Business Model

Companies

  • Esure is one of Britain’s largest providers of motor insurance policies. It has expanded into home insurance. It owns the Sheilas' Wheels brand, which specialises in insurance products for female drivers.
    • Sir Peter Wood, chairman

Affiliated Organisations

Articles

  • Apr.22.2018: ‘Gender gap’ grows in car insurance. Men pay on average 27% more than women for car insurance, highlighting a growing “insurance gender gap”. The gap has grown from 20% in January 2013 — the month after EU rules came in barring insurers from pricing policies based on gender. The Times.
  • Apr.22.2018: Complaints over PPI mis‑selling up 40%. The number of complaints about payment protection insurance (PPI) has risen 40% in just six months to 1.55m — the highest level in four years. PPI was the most complained-about financial product in the second half of last year, according to the Financial Conduct Authority. The deadline to complain about PPI mis-selling is Aug.29.2019. The Times.
  • Mar.08.2018: Esure drives up profits. What one insurance industry analyst yesterday called a “friendly price environment” has paid off handsomely for Esure and its investors. Esure reported a 35.6% rise in full-year pre-tax profits yesterday to £98.6 mn. The increase in profits allowed Esure to announce a dividend for 2017 of 13.5p per share, which included a special dividend. The Times, Harry Wilson
  • Feb.13.2018: Insurers raise premiums for divorced flat-dwellers. Ministers have been urged to conduct an independent review into how insurers calculate the cost of car and home cover after an investigation by The Times found that premiums are being priced on the basis of customers’ perceived wealth. Seemingly arbitrary factors such as whether a customer has a credit card or which internet browser they use are being used to calculate the cost of insurance rather than solely identifiable risks such as the number of burglaries or car thefts in an area. Experts say that the industry is trying to assess the wealth of customers because it believes that richer customers are less likely to claim. The Times has found that the exact same customer, with the same car, living and parking on the same street, is charged up to 10% more for motor insurance if that home is a flat rather than a house. Identical customers are being charged up to 8% more for home contents insurance if they declare that they are divorced rather than single or widowed. Divorced men are assumed to have lost income to their spouse and are therefore poorer and more likely to claim. (more...) The Times, Andrew Ellson
  • Feb.10.2018: Insurance fees that can cost MORE than a claim: Firms hike excesses so high your cover becomes pointless. Researchers Fairer Finance found some firms charged a £100 excess to claim up to £100 of stolen cash. Insurance companies have been caught in a number of scandals in recent years. A Mail campaign recently led to firms being forced to end a practice of imposing massive hikes on premiums from one year to the next. Zurich, AA, InsureAndGo, AllSafe, Legal and General, Direct Line, . The Financial Conduct Authority says these charges should reflect typical costs. But they have jumped by 50% since 2005. A spokesman for trade body the Association of British Insurers said: "Insurers always look to keep prices as competitive as possible". Daily Mail Online, Ruth Lythe
  • Jan.24.2018: As premiums hit record levels, cash strapped motorists need a break from money grubbing insurers. The industry has again called on the govt to cut claims costs as premiums soar when there the overall cost of claims is falling - but it's BS. The Independent, James Moore

Affiliated Groups