As part of our ongoing insurance how-to series we continue to explore the terminology and practices used in the Insurance world. Today we’ll be explaining Claims Deductions; we’ll break down the Claims Excesses and Claims Franchises that are applied by Insurers and explain why they use them. We will explore: What is an Excess and…
Following on from our glossary series of insurance terms and methods in which we outlined Claims Loss Ratio and Combined Ratio, I would like to take a look at the concept of Earned Premium and give you a few examples as to the usage, importance and pitfalls when working with it. In this article I…
Introduction In today’s fiercely competitive digital marketplace, insurance products are diverse, tailored and changing. Customers need trusted advice more than ever — and will happily pay for it. Providers who fail to establish themselves as trusted authorities will at worst be ignored completely and at best miss out on the more profitable accounts. Your customers…
My life runs smoothly owing at least in part to the regular currency of International flights. So I have recently come to realise. You may have noticed I’ve not posted for over a month now, which must certainly represent the longest gap in RiskHeads coverage ever. You see, I *was* stuck in Paris, but now…
Pressure is mounting today on Alistair Darling as voices from within the industry call for his resignation over after it is alleged he compared the insurance industry to a “Ponzi scheme of Madoff proportions”. Darling’s press office immediately responded to the allegations by releasing a statement, claiming “Even if Alistair did make these comments (and…
UK company Hiscox have issued a statement today that their losses from the devastating Chile earthquake could be a whopping £100 million worth. This follows hard on the heels of a similar joint announcement from Munich Re and Swiss Re that losses for the insurance industry as a whole would likely be $7 billion. It’s…
Amazingly a single gang of travellers are said to have been the root cause of 47% of all insurance claims for caravan theft. The BBC cite the Wiltshire gang as having been responsible for – wait for it – HALF of all the caravans stolen in the whole of the UK between 2004 and 2007….
On behalf of RiskHeads.org I’d like to say a big thank you for our mention in the Top 10 Insurance Blogs over at Insiders View. THANKS guys. Since our recent launch we’ve been pleased by the massive feedback we’ve been getting from readers and to see RiskHeads up there already with the likes of Times Online…
