Keep up with what’s been happening this week in our latest insurance news round-up…
Aviva, one of the UK’s biggest travel insurers have cut back cover in new travel insurance policies due to coronavirus outbreak. Customers who have bought travel insurance before this week will still have the full coverage for travel insurance.
Chief Executive John Neal has announced that Lloyd’s of London market will close its underwriting floors for a day to test emergency protocols due to coronavirus. This will be the first time Lloyd’s has shut in 330 years.
The large global insurance company Aon will be buying Willis Towers Watson in a $30bn insurance deal. This will create one of the world’s largest insurance brokers with a combined value of $80bn.
After the insurance company, LV, has seen the number of travel insurance policies sold double over the past week they have decided to stop the sale of travel insurance to new customers due to coronavirus.
Zurich has partnered up with California-based company, Carpe Data, who provide claims monitoring system powered by alternative and emerging data, in order to help in the detection of insurance fraud and improve claims processing efficiency.