After negotiating with its insurance company, Hainan Rubber has received partial rubber income insurance compensation of 30 million yuan (about £3.2 million; €3.9 million) prepaid by the other party. Hainan Rubber said actual rubber income was lower than the target income due to the super typhoon Makar in September 2024, triggering the insurance payment conditions.
Kwik Fit is now offering motor insurance to car owners via its website. The Kwik Fit brand re-entered the UK motor insurance sector last year, offering policies through price comparison websites. After seeing its offering prove popular and receive positive customer feedback, Kwik Fit is now enabling motorists to get a quote and purchase cover via Kwik-Fit.com.
A Freedom of Information request to National Highways by motor insurance loss adjuster Claims Management & Adjusting (CMA), part of the QuestGates Group, has revealed that 47.6 per cent of all breakdowns on UK motorways and A-roads over the last three years were caused by tyre issues. In February, National Highways confirmed that there were 5,934 tyre-related incidents on the Strategic Road Network (SRN) in 2021, rising to 7,095 in 2022 and 7,762 in 2023, including blowouts which led to serious collisions.
Freedom of Information (FoI) requests to constabularies across South East England by motor insurance loss adjuster Claims Management & Adjusting, part of the QuestGates Group, have revealed huge disparities in stolen vehicle recovery performance. In London last year, the Metropolitan Police found well over half (54.28 per cent) of all vehicles reported stolen to them, whereas Bedfordshire Police recovered only 8.38 per cent and Kent Police even fewer, just 5.65 per cent.
Generali Global Corporate & Commercial (GC&C) Italy, Pirelli and Aon have signed an agreement on an insurance solution aligned with United Nations Sustainable Development Goals (SDGs). Announcing the agreement’s signing, Pirelli says this collaboration underscores the protagonists’ commitment to advancing Environmental, Social, and Governance (ESG) principles and improving risk quality for all stakeholders.
A new poll by car insurer NFU Mutual found that over half of motorists think petrol and diesel cars are now cheapest to run. As the cost of electricity rises, just 18 per cent thought a fully electric vehicle would be cheaper, while 11 per cent said a plug-in hybrid would be cheapest. This is in stark contrast to last year, when a survey found 57 per cent said cheaper running costs were an incentive to switch to electric vehicles (EVs). However, motor experts at NFU Mutual show EVs are still significantly cheaper to run when charged economically and have many other cost benefits too.
Together with Allianz Partners, Bridgestone EMIA is rolling out a commercial vehicle tyre insurance programme as the first product in a partnership that will co-create new offers and services around each firm’s key areas of expertise. The programme is fully launched in Italy and being piloted in France, Germany, and the Benelux. The tyre insurance programme covers the replacement of flat tyres caused by sharp objects or curb side collisions, which are typically not protected in the case of damage.
In early July, German insurance company HUK-Coburg bought a 25.1 per cent stake in tyre and fast-fit chain Pitstop. HUK-Coburg will now add Pitstop’s garages to its auto service network offering, which sees motorists – both HUK-Coburg insurance customers and non-customers – pre-book basic vehicle servicing online.
Based on claims trends following previous UK lockdowns, insurer NFU Mutual is expecting a sharp increase in accidents from next week. This is when self-contained holiday accommodation lets, non-essential retail, personal care, outdoor hospitality and indoor leisure venues are scheduled to open to the public on 12 April. Claims to NFU Mutual for car accidents increased sharply by 22 per cent over the late May Bank Holiday last year, shortly after lockdown was eased on May 11. Car accident claims also increased by 12 per cent over the Christmas period compared with previous weeks, prompting the insurer to advise caution on the roads. The prediction comes alongside 1 in 4 drivers admitting they are feeling nervous about making long journeys once lockdown restrictions are lifted.
The majority of industries across the UK have been impacted by the effect of COVID-19 and – with up to 60 per cent of garages closed during lockdown – the tyre industry is no exception. Prevailing market conditions combined with the complexity of the pandemic’s damage means that insurers have reduced their risk exposure and overall capacity. This, combined with newer pressures on the horizon, has provided tyre companies with a rationale for bolstering their risk management measures in order to avoid costly and time-consuming slip-ups down the line. Tyres & Accessories spoke with Ben Harrison, vice president, Marsh Commercial in order to find out more.
One in five motor insurance customers were using a dash cam in 2019, according to leading data and analytics company GlobalData’s 2019 UK Consumer Insurance Survey, and Insurtech Inzura’s white-labeled dash cam offering has the potential to increase uptake considerably – reducing premiums for policyholders.
Ease of charging, distance travelled on one charge and saving money are the top considerations for drivers when it comes to buying an electric car. In a national Opinium survey of 2,000 UK drivers, commissioned by InsuretheGap, a leading supplier of GAP (Guaranteed Asset Protection) insurance for new and second-hand cars, four-fifths of drivers answered what would make them more likely to buy an electric car, leaving a fifth that would not buy an electric car in any circumstance.
A survey of more than 2,000 UK drivers, which was commissioned by InsuretheGap.com, a leading supplier of GAP (Guaranteed Asset Protection) insurance for new and second-hand cars, finds that over two-thirds (69 per cent) want new legislation for cyclists including bikes having a registration number to make them identifiable (68 per cent), and more than half (53 per cent) saying cyclists should be required to hold a licence.
Well-known industry insurance company Jelf reports that it has designed specific insurance programmes for the tyre sector in collaboration with the National Tyre Distributors Association (NTDA). According to Jelf, the insurance market for the tyre industry is diminishing quickly with only a small number of motor trader insurers willing to write insurance policies.
Servicesure has appointed Bollington as its insurance provider, supplying an exclusive comprehensive cover package for the national garage network.
The partnership commenced on Monday 1 April, with Bollington’s team of local account managers providing a carefully-tailored, personal service which establishes each business’ individual insurance requirements.
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