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UK watchdog publishes insurer claims payout scorecard

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UK watchdog publishes insurer claims payout scorecard

The U.K. financial watchdog has published data highlighting the firms that pay out claims most infrequently.

The Financial Conduct Authority released figures for 38 firms, which showed that UIA (Insurance) Ltd. and Zenith Insurance plc have the lowest claims acceptance rates for home insurance, while esure Group Plc had the lowest acceptance rate for personal accident insurance sold as an add-on to motor or home insurance.

The data, covering the year ended Aug. 31, 2016, also showed that Hiscox Syndicates Ltd. pays out the largest claims, on average, for home insurance, while Brit Syndicates Ltd. pays out the most for home emergency insurance. Esure pays out the maximum in average claims for personal accident sold as an add-on.