Hurricane Sandy costs insurers £9.3bn

Hurricane Sandy could cost property insurers up to£9.3bn according to initial estimates by catastrophe modelling firm AIR Worldwide. Another catastrophe modelling firm Eqecat have lowered their initial estimates to £3.1bn. However, the firm said that the wider economic losses could reach £6.21bn. In addition to the property damage costs,  business interruption claims will occur – […]

Millionth Uninsured Vehicle Seized

The Motor Insurance Bureau has confirmed that the police seized the millionth uninsured vehicle on the 21st August 2012. Most police vehicles are fitted with automatic number plate recognition (ANPR) systems linked to a national motor insurance database to help combat those drivers who still drive uninsured. Uninsured drivers effectively add approximately £40 onto every insured motorists […]

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