Spotlight on periodical payment orders: How do insurers manage PPO risks?
This article was paid for by a contributing third party.
Introduced in April 2005, periodical payment orders might not have grown in the volumes some expected, but still pose challenges for general insurers not least due to their similarity to longevity life risks. Post spoke to both insurers and other interested parties to find out how PPOs are being managed in 2022, and what the future might hold for how these claims are handled.
Are periodical payment orders turning general insurers into composites holding both general and life insurance risks? Would it be better for general insurers to ‘transfer’ these risks to life insurersOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims & Fraud
RSA fraud chief spotlights growing commercial fraud threat
Adele Sumner, head of counter fraud and financial crime at RSA, has called for increased awareness on the growing threat of commercial insurance fraud.
Blog: Vacant properties – don’t let the risks move in
With empty homes up 10% in five years and the proportion of high street retail premises left vacant hitting a one in seven all-time high, RiskSTOP’s David Reynolds reminds us of the key steps in managing unoccupied buildings.
Allianz, RSA and Zurich to debate threat of AI in insurance fraud
With digital manipulation threatening to put additional pressure on claims handlers, as deception becomes harder to spot.
Fraud Spotlight: Working together to prevent insurance fraud
Insurance companies face an uphill battle when it comes to mitigating fraud. However, beyond the external threats of increasingly sophisticated fraudsters, there lies a significant internal challenge: competing priorities between different departments within the same organisation.
Fraud Spotlight: ID fraud now hardest to spot, say insurance leaders
Digitalisation and GenAI are fuelling a new wave of synthetic ID fraud that is pushing the limits of human detection. Ellie Robinson reports
Fraud Spotlight: Insurers face ‘cat-and-mouse’ with fraudsters
Insurance fraud leaders are targeting new data and technology tools to keep pace with a rising tide of criminal activity. Ellie Robinson reports
Zego aims to double staff output through AI use
Zego CEO Sten Saar plans to double staff output through generative artificial intelligence use.
Is it time the ABI GTA had specific rates for Electric Vehicles?
With the number of electric vehicles on the UK roads well in excess of one million they are becoming an ever more important factor for motor insurers when planning how to grow, service their portfolio and manage claims costs.