Motorists with five year old cars are the most likely to make a claim on their car insurance, according to research by Virgin Money. The insurance provide found that 9.6% of all claims were from drivers with five year old cars. This compares to ten year old cars, which account for just 6% of claims, and cars less than one year old, which account for a mere 2% of claims. Virgin Money also found that cars between three and six years old account for... 

Guidewire Software® has announced the launch of its new Claims Performance Monitoring™ tool as part of the upgrades to end-to-end claims system Guidewire ClaimCenter® 6.0. With Claims Performance Monitoring™ insurers will be able to see metrics measuring claims operations performance in real time. Claims personnel can enjoy auto-tracking of claims by using insurer-specific claim metrics, high risk indicators and claims summary screens. Claims... 

The cost of damage caused by last November’s flooding in Cumbria has topped £200 million. According to the Association of British Insurers (ABI), its members have handled 36,000 flood and storm damage claims totalling an estimate £206 million, with 60% of the sum relating to business damage. Interim payments made by insurers to homeowners and firms have ranged from £250 to £400,000, and alternative temporary accommodation has been necessary...