Property
FCA rules out banning broker commission
The Financial Conduct Authority has ruled out banning broker commission, despite being concerned by “high” 62% charges for arranging cladding insurance.
FCA promises action against overcharging brokers
The Financial Conduct Authority has warned brokers it will “take action” against those charging inflated commissions for arranging cladding cover, with some charging up to 62%.
Top 75 MGAs: PIB Group
PIB Group’s main MGA-MGU activities dealing in UK-based non-life risks in 2022 were Citynet Underwriting Services, Let Alliance, Q Underwriting, Thistle Insurance Services and UKInsuranceNET, according to Insuramore.
Top 75 MGAs: Gallagher
The performance of Gallagher’s Pen Underwriting business, which includes Manchester Underwriting Management and RMP, plus Vasek Insurance earned the group a place on Insurance Post's Top 75 MGAs 2023 list.
Top 75 MGAs: Howden Group
Howden Group’s MGAs - Dual and KGM Underwriting Services - generated revenue that places the business in the top 15 of this year’s Insurance Post Top 75 MGAs 2023 list.
Top 75 MGAs: Countrywide Legal Indemnities
Countrywide Legal Indemnities has been providing legal indemnity products for title defects affecting UK property for almost three decades.
Top 75 MGAs: Brown & Brown
Brown & Brown's main MGA-MGU activities dealing in UK-based non-life risks in 2022 earning the business a place on the Top 75 MGAs list were Camberford Underwriting, Decus, Mithras Underwriting and Plum Underwriting.
Insurance Post’s Top 75 MGAs revealed
Markerstudy and Policy Expert have been the named the country’s two biggest MGAs after achieving revenues of between £80m and £100m for UK-based non-life risks in 2022.
Insurers’ profitability to remain lower than cost of capital
Data analysis: General insurers are adjusting rapidly to the new higher interest rate era ushered in by the most intense monetary policy tightening since the 1980s but profitability is unlikely to soar back to pre-pandemic levels imminently.
Diary of an Insurer: Belfor UK’s Paul Anderson
Paul Anderson, operations director for restoration and reinstatement at Belfor UK, is hiring, reviews a surge and burst pipe event plus aims to shorten the claims process by managing the entire restoration and reinstatement process.
Aon unveils operational risks solution; Admiral launches PI policy; Clear inks another deal
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
FCA to hit brokers with fresh leasehold insurance reforms from 2024
The Financial Conduct Authority has issued a wave of reforms around leasehold buildings insurance, coming into force in the new year.
Property claim times to benefit from migrant construction worker influx
The government’s decision to relax the rules for construction workers to enter the UK from abroad, should increase the pool of skilled workers available for property repairs, said Verisk’s head of property Ben Blain, following the release of Verisk’s…
Ramifications of crumbling concrete for insurers
Rachael Murphy, senior associate at Browne Jacobson, considers the type of claims insurers can expect from issues with reinforced autoclaved aerated concrete.
Q&A: Megan Bingham-Walker, Anansi & Sarah Wernér, Husmus
With less than 0.5% of venture capital funding going to Black-led start-ups, Frances Stebbing speaks to two recipients of the Black Founders Fund to find out why this initiative is so important and how it helped their business.
Cyber market edges towards systemic risk solutions
Participants in the quickly growing cyber insurance market are pushing for commonly held definitions of catastrophic or systemic events.
LMA launches ESG Academy; Brown & Brown's latest deal; MS Amlin appoints CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Collaboration needed on climate resilience as UK must ‘get used to’ floods
Collaboration is the key to improving climate resilience, according to a panel of experts at the Chartered Insurance Institute’s Shaping the Future of Insurance conference.
CII reveals who scored top marks in insurance exams
Marsh, Axa, Gallagher, Zurich, Allianz, QBE, RSA, NFU Mutual and Hiscox employees were among those who scored the top marks in Chartered Insurance Institute exam and coursework submissions in 2022.
How AI can mitigate increasing cost of extreme weather
Izik Lavy, CEO and co-founder of GeoX, discusses how insurers are using AI and aerial imagery to battle the extreme weather ushered in by the climate crisis.
Young adults want Alexa to sort out their insurance
Data analysis: Young adults are markedly more likely to want their Alexa to share information so they can have personalised home (70%), pet (68%) and car insurance (67%) than older adults (50%, 43% and 48% respectively), a survey has shown.
Aviva exits Singlife joint venture; Clearspeed and PWC partner; Cila elects president
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
A fire-free summer does not call for complacency
Paul Redington, regional major loss manager of Zurich, explains why insurers and the government should work together to create a risk map of areas vulnerable to wildfires.