A third of gig economy couriers and delivery drivers have no savings June 9, 2021 Around 30 per cent of gig economy drivers, riders and couriers across Europe had no savings in the first half of 2021. Almost half of the 10,000 workers surveyed had experienced a claimable event such as an accident. Of these, only 12 per cent had actually made a claim and 69 per cent had a [...]
Loyalty penalty on home and motor insurance to be scrapped May 28, 2021 Renewal quotes for home and motor insurance customers will soon not be more expensive than they would be for new customers, in a bid to tackle loyalty penalties in the insurance sector. Millions of home and motor insurance customers lose out if they renew repeatedly with their current providers, according to the city regulator. In [...]
Protestors gather outside Lloyd’s of London over coal mine insurance May 17, 2021 Protests took place today outside Lloyd’s of London in the City and in 12 other locations around the UK over insurance-related environmental concerns. People gathered to demand Lloyd’s stops insuring all coal mines immediately. The protest was designed to coincide with the reopening of Lloyd’s underwriting room. According to pressure group Coal Action Network, Lloyd’s [...]
Hospitality groups gear up to take on insurers over business interruption cover April 23, 2021 Hospitality companies hit hard by the pandemic are forming groups to take on their insurers, in the hope of receiving business interruption cover they believe they are owed. The hospitality businesses involved believe they are owned payouts from their insurers after the coronavirus and subsequent restrictions left them unable to serve customers for months at [...]
Extinction Rebellion activists block headquarters of Lloyd’s of London in the City April 23, 2021 Climate activists are protesting outside the office of Lloyd’s of London in the City this morning, dumping fake coal outside in front of the building as part of a campaign against insuring fossil fuel mining activities. Activists from the Extinction Rebellion group are holding up banners with slogans such as “Climate Criminals” after they dumped [...]
Accept working from home as the new normal, insurance industry told April 21, 2021 Millions of people might find their insurance policies do not cover them for work-related accidents that take place at home as lockdown eases across the UK, and this is wrong, an insurer has stated. Until recently, insurers had to apply home and contents policies to home workers and the self-employed as the country was being [...]
Aviva brings executive committee to one-third women with new senior hire April 13, 2021 Aviva has added another c-suite female to its arsenal with the appointment of Cheryl Toner as chief customer and marketing officer. Toner will start at Aviva in May 2021, where she will join the group executive committee, a senior committee where women make up a third (33%) of its members. Aviva’s board, which Toner will [...]
Bunga Bunga owner sues Axa Insurance over business interruption cover April 13, 2021 Inception Group, owner of London nightclub Bunga Bunga, is preparing to sue Axa Insurance over unpaid business interruption cover. Inception Group, which owns restaurants and clubs in central London including Mr Fogg’s and Cahoots, has alleged Axa is trying to “wriggle out” of making a payout, and plans to launch a £3.25m claim in the [...]
LV= generates profit despite Covid knocking retirement and protection business March 26, 2021 LV= made a profit in 2020 despite tough trading conditions, though new business sales were affected by tough trading conditions. The pension and protection provider made an operating profit of £40m in 2020, up considerably from a £16m loss the year before. Despite its profit, tough trading conditions brought about by the Covid-19 pandemic hit [...]
Just Group lifts profits amid bid for sustainable capital March 16, 2021 Specialist financial services firm Just Group enjoyed an 11 per cent lift in annual earnings, which boosted underlying profits to £297m in December. The group announced this morning that thanks to a host of new sales, new business profits increased by £17.2m to £199.2m, compared to the previous year. This reflects a 12 per cent [...]