The ITFA Muse reported last year on the Lloyd’s market published headline claims statistics as at June 2015. See ‘Focus on Insurance: Top Tips for Managing a Successful Claim by Katie Fowler and Carol Searle of Texel Finance Limited’ appearing in the May 2016 ITFA Muse.
The authors of that article are pleased to report an update to those June 2015 statistics which, as before, have been made available to ITFA members by Xchanging Claims Services who maintain these statistics for the Lloyd’s market.
To access the updated statistics (as at June 2016) readers need to log onto the member area of the ITFA website. These statistics reflect claims paid by Lloyd’s Syndicates per year since 1997 up to 30 June 2016. As before these statistics are recorded according to Lloyd’s risk codes. The relevant codes for non payment insurance are CF (Contract Frustration, the risk code for payment risks of public borrowers) and CR (Trade Credit risk, the risk code for payment risks of private borrowers).