Latest news with #claims
The Independent
18 hours ago
- Business
- The Independent
Storms and heavy rainfall driving up property insurance payouts
Some £1.6 billion worth of property claim payouts were made by insurers in the second quarter of this year, according to the Association of British Insurers (ABI), with adverse weather driving a significant portion of claims. The total, to help homeowners and businesses bounce back from incidents which also include fire and theft, marks a 7% rise compared with the first quarter of 2025. Between April and June, insurers paid out £322 million for damage caused by storms, heavy rainfall and frozen pipes. Of this, £198 million covered damage to people's homes and possessions, while weather-related business claims totalled £124 million. The average property claim was £6,200 for households and £17,400 for businesses. The annual average price of combined building and contents home insurance in the second quarter of 2025 was £391, £2 lower than the previous quarter, but £1 more compared with the same period in 2024, the ABI said. The average price of buildings-only insurance was down by £1 on the previous quarter, at £321. This was £4 higher compared with the same period in 2024. The typical price of contents-only insurance in the second quarter of 2025 dropped to £129 – £2 down on the previous quarter and £7 lower than the average price paid in the second quarter of 2024. Mark Shepherd, head of general insurance policy at the ABI, said: 'Our latest figures emphasise the vital protection insurance continues to offer people and businesses. 'They also underscore the growing impact of adverse weather on communities across the UK. 'With climate change making such events more severe and frequent, prevention must become a much greater part of the solution.' Louise Clark, manager of general insurance policy at the ABI, said: 'Flooding and storm damage can be deeply distressing and disruptive. 'While we can't control the weather, small preventative steps can go a long way in protecting our homes and reducing the fallout. 'Clearing gutters, securing roof tiles, fixing any leaks, repairing cracks in doors and windows, and fitting flood gates or airbrick covers where needed, all help limit physical damage when bad weather strikes. 'It's also important to stay on top of your insurance. 'Reviewing your policy regularly, checking with your provider if you're unsure what's covered, and keeping your home in good repair are essential to ensuring you're fully protected when the unexpected happens.'
Daily Mail
4 days ago
- Entertainment
- Daily Mail
Britain's UNLUCKIEST names, revealed - so, is yours on the list?
If you've ever felt like you just can't catch a break, it might not be random. Experts have analysed personal injury claims and identified the names most likely to have suffered slips, trips, falls and workplace incidents. Some of the unluckiest names are more than 20 per cent more likely than the average person to file a personal injury claim, they revealed. And it's bad news for people called David or Joanne – as they top their respective lists. Researchers analysed personal injury claims submitted to Edwards Hoyle solicitors over the space of a year. The data revealed that the name David accounted for a larger share of claimants than any other male name. Odds analysis suggests a man named David is a fifth more likely than average to file a personal injury claim. The news is enough to make David Beckham and David Attenborough pay special attention to their everyday safety. James Norton (pictured) is known for playing a 'bad boy' in Happy Valley - but in real life he has a name that indicates he's more likely to trip over his feet Sadly for actor James Norton, his name places second in the 'unluckiest' list of men. Comedian Stephen Fry, Prince Andrew and Coldplay frontman Chris Martin all possess first names which also appear in the top five list, the data showed. The top unluckiest female name was Joanne - especially for everyday accidents like trips or burns, the analysis showed. This would include the likes of Harry Potter author J K Rowling and actress Joanne Froggatt. According to the data, a Joanne's odds of lodging an injury claim were roughly one in 20 per year – significantly above the average for women. Other unlucky women are those named Emma, Clare, Karen and Lisa, the analysis showed. The likes of actress Emma Watson, broadcaster Clare Balding and presenter Lisa Snowdon should perhaps take heed. A spokeswoman from who commissioned the research, said: 'While your name alone doesn't doom you to bad luck, these findings show that some names turn up more often when accidents happen. 'Next time you slip, trip or burn your dinner, you might just blame your name… and have the data to back it up.' They explained that David and Joanne were extremely common names for people born in the 1970s – 80s, so they appear more often in any large dataset. Younger workers in physically demanding roles also tend to file more claims – and certain names also dominate those age groups. 'If your name is on the list, don't panic!' they added. 'Just be a little extra careful on staircases and kitchen floors.'
Zawya
6 days ago
- Business
- Zawya
Global trade credit insurance claims drop in 2024, but Africa remains key risk zone, survey finds
The Lloyd's Market Association, in partnership with the International Underwriting Association (IUA) and the London & International Insurance Brokers' Association, has released findings from its latest annual global trade credit insurance claims survey, conducted by A2Z Risk Services. According to the report, the 2024 trade credit insurance market experienced a notable decline in both the volume and value of claims. A total of 185 claims were reported, amounting to over US$400 million. This represents a reduction of more than US$100 million—nearly a 25% decrease in claim value compared to the previous year. Despite the decline, Africa continues to dominate the claims landscape, accounting for 71% of all global trade credit claims. In contrast, the Americas made up 10%, Europe 14%, and Asia 5%. The survey also revealed that claims are being paid consistently and on time, underscoring the reliability of trade credit insurance providers. Less than 1% of claims—worth only US$3.9 million—were delayed beyond the contractual deadline, and all valid claims were eventually settled. Public sector entities were more prominent in the claims data, making up 72% of claims filed, though private sector claims had higher average values. In total, 54% of the claims paid went to the public sector, while 46% were paid to the private sector. The report identified the top five sectors with the highest claim payouts, including: 'Trade credit insurance plays a crucial role in enabling global trade – giving exporters the confidence to invest in exporting goods and services and in backing large-scale infrastructure and construction projects. Worldwide, it provides a vital safety net to permit trade in goods and services. This is especially evident in regions like Africa, where infrastructure investment remains critical but comes with an increased level of risk,' said David Powell, Head of Technical Underwriting at the Lloyd's Market Association. 'Even in these challenging environments, insurers continue to provide protection and to pay claims reliably when they occur.' 'Trade credit insurance offers several advantages beyond simply protecting against non-payment. It facilitates business growth and improves access to financing. IUA member companies are prominently involved in providing such cover. The data from our latest survey clearly illustrates the reliability of their solutions, enabling businesses to extend credit with confidence, expand into new markets, and secure better financing terms,' said Joe Shaw, Director of Claims at the International Underwriting Association (IUA). This comprehensive 2024 insurance claims report highlights the resilience and effectiveness of trade credit insurance, particularly in emerging markets like Africa, where economic development is often linked to infrastructure projects and trade finance. As global businesses continue to navigate uncertainty, credit insurance coverage remains a vital tool for enabling secure international trade and risk mitigation. Copyright © 2022 - All materials can be used freely, indicating the origin Provided by SyndiGate Media Inc. (
Zawya
7 days ago
- Business
- Zawya
DIFC Courts reports increase in number of claims for first six months of 2025
Total number of claims across all Divisions rose by 38% year-on-year Average claim value across the Court of First Instance (CFI) stood at AED 51.3 million Dubai, United Arab Emirates: The Dubai International Financial Centre (DIFC) Courts today reported statistics for the first six months of 2025. Claim numbers grew 38% year-on-year as parties sought swift, independent justice in domestic and international commercial and civil disputes. From January – June 2025, 650 claims were filed across all Court divisions, with a total average claim value of AED 13.2 million. The main Court of First Instance (CFI) and its specialised divisions recorded 61 claims, with an average claim of AED 117.7 million and a total of AED 6.7 billion. The steady increase in claims demonstrates the Courts' status as the jurisdiction of choice for delivering efficient and reliable judicial services to both corporate and individual users and underpins Dubai's status as an international business hub. His Excellency Wayne Martin, Chief Justice, DIFC Courts, said: 'The first half of 2025 reflects a sustained pattern of growth, particularly in opt-in matters and higher-value claims. These developments reinforce the DIFC Courts' position as a trusted forum for resolving complex commercial disputes, supported by experienced judges, and international enforceability. The new DIFC Courts Law, introduced in early 2025, represents a forward-looking step by the Government of Dubai allowing the DIFC Courts to further streamline procedures and enhance judicial practice, reinforcing our position as a premier forum for dispute resolution well into the future.' Over the first half of 2025, the Civil & Commercial Division (CCD) recorded an 85% year-on-year growth in claims (from 33 to 61), with a total claim value of AED 2.3 billion. Strong demand for the Courts' Arbitration Division (ARB) continued as 23 claims were registered, an increase of 92% year-on-year, with a combined value of AED 4.5 billion. The Small Claims Tribunal (SCT) dealt with 458 claims (a 73% year-on-year increase), representing an AED 43.2 million total claim value and an average claim value of AED 95,000. The increases in caseload in the commercial and arbitration divisions and the Small Claims Tribunal were offset to some extent by a decrease in enforcement cases, so that total new cases increased by 38% to 650, as compared to 470 in the corresponding period last year. Reflecting the continued public trust in the Courts, submitted claims covered sectors including banking and finance, retail, manufacturing, crypto, and real estate. With internationally recognised and Emirati judges upholding the highest global legal standards, claims ranged from complex cross-border disputes to simple employment contract disputes. The statistics also highlight strong uptake of 'opt-in' claims, with parties outside the DIFC jurisdiction contractually selecting the DIFC Courts to resolve their disputes. In the Court of First Instance, 38% of claims were opt-in; 39% in the Small Claims Tribunal (SCT); and 18% in the Arbitration Division (ARB). Ancillary services The DIFC Courts Wills Service also recorded increased activity. In the first six months of 2025, 922 Wills were registered — a 14% increase compared to the same period in 2024 — and 27Probate Orders were issued. Since its inception, the service has registered over 13,400 Wills, offering a secure mechanism for non-Muslim residents and investors to plan their estates in the UAE. The Courts' Pro Bono Programme also assisted more than 524 individuals, supported by 39 volunteer firms, and 51 volunteer lawyers. The DIFC Courts' Pro Bono Programme is the first-of-its-kind in the Middle East and was implemented in 2009. It provides access to justice for those who are financially in need and who have legal issues that fall within the DIFC Courts' jurisdiction. His Excellency Justice Omar Al Mheiri, Director, DIFC Courts, said: 'This period has seen continued uptake across all our services, from civil and commercial claims to ancillary services. The consistent increase in users choosing to bring their disputes to the DIFC Courts is a strong reflection of the value placed on our legal framework by businesses and individuals alike. Serving as the region's leading common law commercial court for over 20 years, our continued growth is a testament to our mission to adapt, innovate, and expand access to justice through our core and ancillary court service offerings to the public. ' Dubai Law No. 2 of 2025 underpins increased operations In March, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued a new law (Law No. (2) of 2025) which strengthened the DIFC Courts by formalising its exclusive jurisdiction to hear and resolve civil, commercial, and labour claims. The new law also consolidates previous laws — Dubai Law No. 10 of 2004 and DIFC Law No. 12 of 2004 — into one statute. This improves transparency and removes outdated or conflicting clauses. It clarifies our jurisdiction over civil, commercial, employment matters, non-Muslim wills, trusts, and enforcement of arbitral awards. The new DIFC Courts Law introduces changes that enhance the jurisdiction and procedural framework, in addition to ensuring that the DIFC continues to be viewed as an arbitration-friendly forum. These changes offer practical benefits for businesses, including the ability to bring employment claims, secure interim measures, and resolve disputes through mediation. Claims summary – January – June 2025 Civil & Commercial Division (CCD): 61 claims | AED 2.3 billion total claim value | Average claim value: AED 51.3 million Arbitration Division (ARB): 23 claims | AED 4.5 billion total claim value | Average claim value: AED 342.6 million Small Claims Tribunal (SCT): 458 claims | AED 43.2 million total claim value | Average claim value: AED 95,000 Enforcement (ENF): 106 claims | AED 4.5 million total claim value | Average claim value: AED 1.5 million Quarterly statistical updates To ensure transparency and ongoing access to data, the DIFC Courts publishes updates on statistics through its official website every quarter. This shows the Courts' commitment to providing timely and relevant information to legal professionals, businesses, and the wider public. The complete report for H1 2025 is available at -End- About the DIFC Courts The UAE's DIFC Courts administers a unique English-language common law system – offering swift, independent justice to settle local and international commercial or civil disputes. The Courts, based in Dubai, provide certainty through transparent, enforceable judgments from internationally recognised judges, who adhere to the highest global legal standards. The DIFC Courts is independent from, but complementary to, the UAE's Arabic-language civil law system – offering a choice that strengthens both processes while ensuring public access to world-class justice. In October 2011, a decree of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai, opened the DIFC Courts' jurisdiction to businesses from across the GCC region and beyond to provide the international business community with access to one of the most advanced commercial courts in the world. The DIFC Courts was established under laws enacted by the late HH Sheikh Maktoum bin Rashid Al Maktoum, Ruler of Dubai in September 2004. The Courts' community-focused approach encourages early settlement, while its successful track record supports Dubai's growing status as an international business hub. In line with HH Sheikh Mohammed's vision, the DIFC Courts serves to develop the UAE national workforce and enhance the competitiveness of Emirati advocates. The DIFC Courts is spearheading training programmes predominantly aimed at domestic Emirati lawyers, which offer knowledge of, and qualifications in, the English-language common law system. For media enquiries please contact: communications@
Yahoo
22-07-2025
- Automotive
- Yahoo
Regulator finds ‘concerning' evidence of poor handling of insurance claims
Insurers have been told by the Financial Conduct Authority (FCA) to improve their claims handling, following 'concerning' evidence of poor practices in some cases. The regulator said that, while rising motor insurance premiums are largely driven by external cost pressures, shortcomings persist in how some insurers handle claims. FCA analysis indicated that increases in the cost of motor claims – due to higher prices for cars, parts, labour, energy and more complex cars and supply chains – have contributed to premium increases. The cost of hire vehicles, the number and cost of theft claims and uninsured drivers have also risen significantly. This confirms that increased costs outside of firms' control, rather than firm profit, were the biggest cause of recent premium rises in motor insurance. But the FCA did identify that referral fees from credit hire firms and claims management companies were associated with slower claims processing and increasing costs. Where it has seen poor practice from firms, the regulator said it is addressing it directly with them, including taking action against specific firms where necessary. The regulator said that 'concerning' evidence of poor claims handling practices included a lack of oversight of outsourced services, resulting in poor customer outcomes, delays in settling claims and high complaint volumes. It also found evidence of insufficient management information, resulting in failures to promptly identify and resolve claims handling issues. Cash settlements were also being used in some cases without sufficient consideration of whether they are most suitable, the regulator said. The FCA also highlighted high rejection rates for storm damage claims, saying only 32% of such claims made to a sample of firms in 2024 resulted in a payment. The regulator is also providing evidence for coordinated action from Government, industry, and other regulators, as part of the Government's motor taskforce, to help drive down the cost of motor premiums. This could help limit cost increases but it cannot prevent them, the FCA said. It has also published an interim update of an ongoing premium finance market study investigating whether consumers receive fair value when choosing to pay for insurance in monthly instalments. While premium finance allows customers to spread costs, making them affordable and providing flexibility, the regulator has found some firms earn much more money than it costs to provide the service. It will explore these concerns further in the next phase of the study. The FCA said it will seek to tackle any issues it finds first through the Consumer Duty, publishing a final report by the end of 2025. Sarah Pritchard, deputy chief executive of the FCA, said: 'Insurance provides peace of mind but people must be confident they can get a fair deal and be treated right when the worst happens. 'External cost pressures are primarily to blame for recent motor premium increases, not increased firm profits, but there is some more work to do on claims handling, particularly in home and travel. That's why we're stepping up – making sure claims are handled promptly and fairly and pushing for a coordinated effort to tackle the root causes of rising motor premiums. 'A well-functioning insurance market helps consumers navigate their financial lives and supports growth by building people's resilience to financial and personal shocks.' The FCA also said that evaluation of previous pricing reforms showed they are having the intended impact on the price gap between new and existing customers in both the motor and home markets. This means its reforms were effective in curbing 'price walking' where loyal customers were charged more at renewal, the regulator said.
