Insurer
PL insurers continue to face rising material and labour costs
Both home and motor insurers are continuing to feel the effects of the rising costs of labour and materials, according to reports from Verisk and the Association of British Insurers.
Insurers welcome Automated Vehicles Bill included in the King’s Speech
The King’s Speech announced the government's intention to, in this parliament, introduce long-awaited legislation covering the use of self-driving vehicles on the UK’s roads.
Growth expected in premium income in 2023
Insurers are set to report growth in premium income for the rest of 2023 before tapering off, according to EY.
Direct Line eyes turnaround with improved Q3 results
Direct Line’s Q3 trading update has revealed it has doubled its Motor gross written premiums, a welcome improvement amid a turbulent year for the insurer.
Implementing dual PI discount rate could be ‘complicated’
Speaking at an Association of British Insurers event, a panel of experts agreed that while a dual discount rate could lead to better accuracy, it could prove to be very complicated to work with.
Allianz catches fundamentally dishonest pavement fall fraudster
A recent Allianz personal injury case has revealed a claimant to be fundamentally dishonest, finding that they had misled the insurer regarding their accident.
Insurers must brace for another burst pipe claims influx
As winter approaches, another surge in burst pipe claims may be likely, with research showing a 75% increase in such claims in 2022.
Direct Line launches car insurance ‘without the bells and whistles’
Direct Line has launched an entry-level car insurance product aimed at customers looking for bog-standard cover in the wake of a financial crisis, Insurance Post can reveal.
Home insurance costs continue to rise following ‘worst year on record’
Analysis by Ernst & Young has revealed that home insurance suffered its worst year on record in 2022, and fortunes aren’t about to change.
Bikmo eyes further growth in the UK cycle market
Cycle and e-mobility insurer Bikmo has raised £3.4m in a funding round to bolster its European footprint and drive product innovation.
Zurich cuts claims times; Marsh's global cyber practice; Brown & Brown partners with Ageas
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva: SMEs ‘woefully underserved’ for cyber cover
Cover against damage from cyber attacks against SMEs has been branded as “woefully underserved” at an Aviva event.
CII’s Connell tackles FCA’s latest Greatest Hits compilation
Trade Voice: Dr Matthew Connell, director of policy and public affairs at the Chartered Insurance Institute, outlines how firms can push back against the notion they are all as bad as each other.
Industry calls for clarity on self-driving liability
The industry has called for legislation and clarity on self-driving vehicle liability in the upcoming King's Speech in order to be able to step up and provide cover.
Red Cross pleads insurers to back humanitarian insurance approach
During its London Summit, The International Federation of Red Cross and Red Crescent Societies has appealed for more insurers to support its insurance mechanism, as funding for humanitarian needs reaches an all time high.
Q&A: Jonathan Frankham, World Nomads
Jonathan Frankham, General Manager, UK & Europe at World Nomads, reveals how travel insurance has changed post pandemic and whether further evolution is required due to climate change.
‘Writing on the wall’ for pet insurance if data isn’t utilised quicker
Data usage in pet insurance has “lagged behind” home and motor, according to Crif UK, and if the sector isn’t able to get a grasp of it soon, the writing could be on the wall.
Aviva completes nine-month commercial digital transformation
Aviva’s Global Corporate & Specialty team has revealed how it has been able to develop 20 commercial lines pricing models in just nine months, cutting build time by 75%, after utilising Hyperexponential’s pricing decision intelligence platform, HX Renew.
Howden secures £500m to turn insurtechs into MGAs
Howden’s venture will support the development of innovative insurance solutions, as well as create investment opportunities for insurtech start-ups.
PL insurers to face ‘double whammy’ to margins in 2024
A report from Bloomberg Intelligence has warned that the margins of UK insurers such as Admiral and Direct Line face a “double whammy” of claims inflation and regulation in 2024.
Lloyd’s risk tool; Pattern and Giggster partner; Howden’s driving offering
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Insurers ready for hundreds of Luton Airport fire claims
While the Association of British Insurers has claimed it is “too early” to estimate the insured cost of a fire at London Luton Airport. LV, Ageas and Aviva have confirmed how they will be handling motor insurance claims caused by the blaze.
Labour pledges to tackle car insurance costs
In a speech to the Labour Party conference, Shadow Transport Secretary Louise Haigh promised a Labour government will ensure motorists aren't paying over the odds to insure their vehicles.