Keep up with what has been happening this week in our latest insurance news round-up…
The Association of British Insurers (ABI) said that UK insurers have had to pay out £90m in life insurance claims relation to the coronavirus with insurers receiving 7,000 claims during the peak of the pandemic between March and May.
Hughes Insurance have partnered with Woodland Trust Northern Ireland to start their plan of planting thousands of trees in Northern Ireland by 2022. The partnership aims to reduce Hughes Insurance’s carbon footprint whilst also increasing the number of trees planted by the charity.
Zurich Insurance Group has revealed that there has been a 40% drop on their 2020 results from last year’s H1 operating profit. The business has stated a UK business operating loss of £63 million, including £212 million of COVID-19 related items.
Two of the country’s top economists have warned that a premature easing of COVID restrictions by the government in the bid to get the economy moving ‘could inflate deaths and deepen recession’. They have suggested that the government should pursue a cautious and prolonged reopening strategy instead to save lives and help the economy in the long run.
Roper Technologies Inc, a leading diversified technology company has announced that they will acquire insurtech company Vertafore for $5 billion in order to strengthen their strategy to provide innovative and critical solutions to Vertafore’s customers.