A nice story to finish the week!
Despite all the faults in our industry, dishonesty is not one of them. The world is able to function because of the insurance industry's promise to pay when bad things happen.
Well done Zurich for publishing your stats - all insurers should do it.
Insurers are often accused of doing anything they can to bypass their obligations just when a customer needs them the most. However, those within the industry know that many are holding good to their promises. For a stark example of that fact look no further than Zurich Insurance, which has today revealed that it paid out on 99% of UK general insurance claims - a whopping claims total of £958 million. According to the firm, it paid out on 54 claims worth £1 million or more. It noted that its home insurance payouts were slightly lower at 95%, but added that this was an improvement on 2016 levels and significantly above the industry average. Where customers weren’t paid, the main reasons were misunderstanding what they could claim for, wear and tea and not having the right cover in place.