Articles by Scott McGee
Perils updates Storm Babet damage valuation to £586m
Perils stated £467m of the losses from Storm Babet and Aline occurred in the UK and were mainly flood-related.
Auxillis owner ‘in talks to buy Kindertons’
According to multiple industry sources, conversations are being held for the potential sale of accident management and mobility company Kindertons to Redde Northgate, the parent company of Auxillis.
Bloomberg warns Admiral and DLG could suffer from FCA premium finance action
Admiral and Direct Line’s profits could be threatened if the Financial Conduct Authority clamps down on companies charging customers for paying motor insurance premiums monthly, Bloomberg Intelligence has warned.
MP highlights loophole in Leasehold Reform Bill
Matt Brewis, head of insurance for the Financial Conduct Authority, has appeared before a parliamentary committee to discuss the Leasehold and Freehold Reform Bill and been challenged by MPs over whether the current crop of rules ensure insurance costs…
Big Interview: Matt Brewis, FCA
Matt Brewis, the Financial Conduct Authority’s head of insurance, explains to Scott McGee why premium finance is a “poor product,” denies the watchdog is Miss Trunchbull-like, plus shares the regulator's plans for 2024.
Biba hedges political bets with manifesto
The British Insurance Brokers’ Association has released its manifesto for 2024, which CEO Graeme Trudgill says will “resonate with all political parties”.
FCA confirms further AR restrictions
Having previously placed restrictions on four insurance brokers feared to be failing to ensure appointed representatives comply with the regulator’s rules, the Financial Conduct Authority has confirmed three more sanctions.
ABI still 40% short of capacity for fire safety scheme
The Association of British Insurers’ Fire Safety Reinsurance Scheme, designed by McGill and Partners, is still some way off launching, despite numerous claims it would be ready by the end of summer 2023.
FCA to clamp down on premium finance outliers in 2024
Briefing: The Financial Conduct Authority’s head of insurance Matt Brewis has labelled premium finance a “poor product”, and warned the regulator has “talked about it enough,” hinting at potential action surrounding the practice in the next 12 months.
Q&A: Morgan Lyons, Zurich
Months into his new role as Zurich’s head of mid-market, Morgan Lyons sits down with Scott McGee to talk about challenges within the mid-corp market, improving broker service levels, and attracting and retaining talent.
Vandals continue to target heritage buildings
Nine out of 10 heritage organisations have experienced crime within the space of 12 months, according to research commissioned by Ecclesiastical.
Regulator reviewing R&Q before Accredited sale
The Bermuda Monetary Authority has requested an independent actuarial review of the required reserves of the remaining R&Q Group following the proposed sale of Accredited.
Fully autonomous cars on the road by 2026, claims Transport Secretary
With the Automated Vehicle Bill currently making its way through parliament, Transport Secretary Mark Harper has said vehicles “that have full self-driving capabilities” could be rolled out as early as 2026.
Scope of Luton Airport damage revealed as salvage mission confirmed
Insurance Post can reveal that Copart has been appointed the lead salvage agent for the Luton Airport fire operations when demolition of the car park commences.
Copart CEO hits back at Competitions Authority
Copart’s UK CEO Jane Pocock has hit back at the fines issued to the salvage firm from the Competitions and Market’s Authority.
Opportunistic fraud claims on the increase in 2023
Sedgwick has reported an increase in low-value and opportunistic claims fraud in 2023.
Copart fined £2.5m by Competitions Authority
Copart has been fined £2.5m by the Competition and Markets Authority for failing to comply with an enforcement order on three occasions.
Storm Ciarán spares UK insurers with losses pegged at £1.63bn
Perils has estimated the full losses of Storm Ciarán, which hit the UK and mainland Europe in November this year, at €1.9bn (£1.63bn).
Admiral reveals plan to grow home and pet books after RSA deal
Following the £115m deal to buy RSA’s direct home and pet business, Admiral’s deputy CEO of UK insurance explains how the business intends to continue to grow these lines.
Questions remain as more brokers sign leasehold pledge
Seven more broking firms have signed up to the leasehold commission pledge in association with the Department for Levelling Up, Housing and Communities.
KPMG names Huw Evans as head of insurance
KPMG has named former Association of British Insurers director general Huw Evans as its incoming head of insurance.
Miller secures independent future as PE firm is bought out
Insurance broking firm Miller has announced that its private equity backer, Cinven, has agreed to sell its shares in the firm.
Sky Protect appoints MD as Poll moves to chair
Insurance Post can reveal Sky has appointed Paul Sweeney as managing director of Sky Protect, the firm's home insurance brand as Matt Poll, pictured, moves to a non-executive chair role.
Aviva’s Blanc and Axa’s Foley join ABI board
Aviva’s group CEO Amanda Blanc and Axa UK&I’s CEO Tara Foley have been appointed to the board of the Association of British Insurers.