One of the questions we get asked most often at Kingsbridge is ‘Do you ever actually pay out on claims?’ The answer is a simple one: ‘We do, regularly’. The follow up question is almost as common: ‘Can you prove it?’
As it happens, we can. We understand why the majority of customers are unsure as to whether their insurance will pay out in the event of a claim. After all, you’ll only really know if the cover is good if you have to use it and we’re sure you’d rather that didn’t happen.
Our main insurance product is underwritten by Zurich. In 2017, as they recently announced, Zurich paid out 99% of all claims made by their policyholders in the UK.
In fact, they paid a total of over £1.7bn in claims in 2017 (almost 195,000 of which were from general insurance products), with 120 of those claims being worth £1m or more.