News
Bank of England says claims inflation will continue to affect every insurer
The Bank of England has provided feedback to the market from its review on the effect of claims inflation and whether insurers took recommendations on board.
Qover and Revolut partner; Marsh to aid Ukraine; AIG appoints CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Allies needed for underrepresented voices to be heard
Leaders in the financial services sector have shared the importance of how allies push for a more inclusive environment, but need more to step up and speak out.
Davies to face no regulatory action over cyber attack
The Financial Conduct Authority and Information Commissioner’s Office won’t be taking action against Davies Group following last summer’s cyber attack.
Q&A: Fraser Edmond, Broker Insights
Broker Insights founder and CEO Fraser Edmond speaks to Insurance Post about the inefficiency of the commercial insurance space, bridging the knowledge gap between insurers and brokers, and how he hopes to more than triple the company's coverage by the…
CII and PFS clash continues as more board members exit
Two long-standing independent directors of the Personal Finance Society have quit the board, citing “significant concerns” about the Chartered Insurance Institute’s hold over the financial advice body's coffers.
Lloyd’s former broker Terry Wellard dies
Terry Wellard, the longest-serving chairman of the LIBC Motor Executive Committee, has died aged 82.
Bank of England to test mini-Budget-type stress on insurers
The Bank of England has launched its first “system-wide exploratory scenario” to throw light on the behaviours of insurers, banks and investment funds in stressed financial market conditions.
Aon hit by Russian MOVEit data hack
Insurance Post can reveal that Aon has been caught up in the MOVEit data hack, which has embroiled a number of major corporations.
The Insurance Charities seeks industry support for its awareness campaign
As the cost-of-living crisis continues to leave people feeling the pinch, The Insurance Charities is asking for help so it can reach those in need.
Ifed reports surge in opportunistic fraud
The City of London Police’s Insurance Fraud Enforcement Department has reported a growing number of people making fraudulent insurance claims as a result of cost-of-living pressures.
Furness to leave Covéa after 30 years
Covéa Insurance has selected Georges de Macedo as chief executive and Chris Moat as chairman of its board of directors.
EU moves forward with AI regulation
The use of artificial intelligence in the EU will now be regulated by the AI Act to ensure that AI developed and used in Europe complies with EU rights.
Luko joins Admiral; Stubben Edge launches capital arm; Aspen appoints reinsurance CUO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Industry-specific GPT ‘only way’ to mitigate security risks
Simplifai has stressed that specially built industry-specific GPT, which is trained on insurance data, can alleviate AI concerns and tackle security and data privacy issues.
Mixed injuries confusion will ‘inevitably’ cause more OIC delays, MIB boss claims
Dominic Clayden, CEO of the Motor Insurers’ Bureau, said a resolution on mixed injuries needs to be found quickly, no matter the outcome.
Motor and buildings insurance top the most complained about products by consumers
The Financial Ombudsman Service revealed motor and buildings insurance are among the top five most complained about products for 2022/23.
Carpenters takes 42 staff and all OIC portal cases from Slater and Gordon
Insurance Post can reveal that Carpenters Group has taken on Slater and Gordon's OIC portal account, including all staff, with sources claiming that no fee was paid.
‘Naïve’ to expect road usage to go back to pre-pandemic ways
The changing habits of drivers post-pandemic requires insurers to be “comfortable being uncomfortable”, the head of underwriting for Allianz Personal and LV said.
Wallife launches digital identity theft insurance in the UK
Italian MGA Wallife has identified a big protection gap in the UK insurance market and has launched its digital identity solution to protect consumers.
Hastings exposes dishonest solicitor who tried to inflate claim values
HF and Hastings Direct have beaten a claimant solicitor’s attempt to inflate claim values by up to £50,000.
Scor’s former CEO and chairman Denis Kessler dies
Denis Kessler, chairman of Scor and former chief executive, has died aged 71.
Lloyd’s to publish ESG plans after net zero criticism
Lloyd’s of London chiefs have promised to "comment more expansively" on ESG guidance in September, as the industry moves to an “action phase.”
Jensten and Hiscox partner; Aston Lark buys HNW book; Axa XL appoints reinsurance CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.