Live Insurance News

Insurance news from London has insurers under fire due to riots compensation

November 3, 2012April 30, 2013

Many policyholders have faced significant delays in receiving their payments. In August of 2011, businesses throughout London were faced with significant damage due to massive rioting throughout the city, and the latest insurance news has shown that many have not yet been compensated by their insurers. It is estimated that one third of the businesses hadn’t received anything four months after making a claim. One out of every three claims made by businesses following the rioting have made insurance news because they hadn’t received a single penny to help to…

Insurance claims from riots to cost U.K. taxpayers more than $160 million

August 12, 2011August 12, 2011 Nordstrom

Now that the U.K. rioting appears to be drawing to completion, insurance companies are beginning to tally the cost of the claims that have and will be made by homeowners and businesses. According to insurers, the impact of the destruction over the long term may be significant, especially in terms of the insurance on property damage. That said, the effect that it has on insurers may be milder than it could have been as a result of a law that is older than a century and that makes the police…