Commercial
Allianz Holdings sees H1 profits cut as inflation runs ahead of expectations
Allianz Holdings has seen its half-year profits cut by 42% year-on-year as a result of inflation running ahead of its predictions and pricing assumptions, the insurer said on Friday.
Nuventure’s product recall MGA intends to be permanent addition to the market and not a ‘disruptor’
Founder of product recall managing general agent Bluniche, said he wants the company to be a respected pillar of the recall market and not a “disruptor”.
Editor's comment: Take time to smell the flowers
Life can be hard. It’s not a nice lesson to have to teach my son but he is old enough now to know about climate change, to learn about inflation and to ask questions about US school killings, abortions, and women’s rights.
Updated: Data Analysis - Insurer results directory H1 2022
Post tracks insurers' H1 2022 results including gross written premium and combined operating ratio.
Crypto volatility 'a concern' for underwriters - RPC's Wickes
James Wickes, partner at legal firm RPC, tells Post that the risk of liability for cryptocurrency value loss could be far greater than insurers realise.
Ascot to lead $50m Lloyd's facility to insure Ukrainian grain exports
Lloyd’s insurers led by Ascot have launched a facility that will provide up to $50m (£40.8m) of all risks marine cargo and war coverage for grain and food exports from Ukraine.
Involving all parties in the process can reduce the claims cost and duration: Allianz’ Rogers
With cost of materials and labour increasing, Allianz head of property claims says working with brokers and loss adjusters on claims can help make liability decisions quicker and keep the duration cycle and costs down.
Analysis: What’s holding back the SME market from taking up cyber insurance?
Cyber insurance has quickly moved on from just being a nice-to-have to an essential product for many of the UK’s small and mid-sized enterprises.
Cool industry reception for regulatory interventions to solve dearth of cover
The Federation of Small Businesses has called on the Financial Conduct Authority to act in response to a survey it conducted that found that many businesses are finding it difficult to find insurance.
Trade Voice: MGAA’s Mike Keating calls for more egalitarian relationships between insurers and MGAs
Mike Keating, CEO of the Managing General Agents’ Association, argues that it's time for insurers to recognise the contribution of MGAs to the insurance sector, and those that 'give away the pen' are reaping the rewards.
FSB calls on insurance industry to tackle widespread confusion over what commercial policies cover
The Federation of Small Businesses has called on the insurance industry to improve the clarity of policy wordings after it found that 30% of small businesses and the self employed have difficulties understanding what their insurance covers.
Intelligence: Fanning the flames – what is causing the fires on containerships?
With more than 70 reported fires breaking out on containerships in the past five years, cargo fires are a priority concern for marine industry. Post investigates how these fires are starting, and what is being done to address this issue.
Allianz's Nick Hobbs on how insurance can provide stability in uncertain times
With the world becoming more uncertain and volatile with each passing week, Allianz chief distribution and regions officer Nick Hobbs outlines how the insurance industry can help, beginning with indexing inflating exposures and reconsidering indemnity…
Blog: Will class actions follow a US ruling and become the norm in the UK?
Class actions involving multiple parties and multimillion-dollar payouts have historically been confined to the US, but following a historic ruling in Merricks v Mastercard, Samantha Silver and Barnaby Winckler, partners specialising in product liability…
Greggs alleges 'hundreds, perhaps thousands' of separate losses in Zurich aggregation trial
The trial in the case of Greggs v Zurich drew to a close on Tuesday, in a shortened process which forwent opening statements and cross-examination of expert witnesses.
Blog: Insurers and brokers must work together to meet clients’ expectations
Julie Rayson-Flynn, director at Brokerbility, considers how declining insurance performance are impacting on the reputation of smaller brokers and their customers, as they cope with hard market conditions and unknown territory.
Wildfires in the UK highlight greater need for 'robust' property design, planning and construction
An increase in claims numbers are expected following the wildfires in the UK, but experts urge more preventative measures.
Blog: Insurers and loss adjusters need data and tech-enabled cooperation
With general inflation sending costs through the roof and extreme weather causing claims surges more often, tight collaboration is absolutely crucial to handle claims – and technology and data can enable this, writes Eibhlin Swan, head of supply and…
Introducing a 4-day week could improve talent retention
Freedom Services Group has rolled out a four-day week to 190 of its employees, with the expectation that the scheme could help attract and retain talent.
Various Eateries argues for 'per premises' case in £16m business interruption claim against Allianz
The trial in the case of Various Eateries v Allianz ended last week, with the UK restaurant chain and its insurer exchanging arguments in closing statements.
Senior management female representation figures ‘don’t move quickly enough’, says Aviva’s Amanda Blanc
Aviva CEO Amanda Blanc has said diversity and inclusion is not treated “as seriously as other businesses issues” and called for more to be done to rebuild the "pipeline" of women progressing to more senior roles.
Blog: Housing disrepair paves the way to a perfect storm – are insurers ready?
With the recent whiplash reforms squeezing profit margins, Jared Mallinson, partner and head of counter fraud at Horwich Farrelly, considers whether the insurance industry is facing a new claims epidemic, with the social housing industry reporting a rise…
Zego withdraws job offers and makes 17% of staff redundant due to increased costs
Motor insurance provider Zego withdrew job offers it had extended due to increased costs, which also led it to make 17% of its staff redundant.
Aviva’s Amanda Blanc calls on the government and regulator to resolve the issues around Solvency II to help UK ‘level up’
Aviva’s CEO Amanda Blanc has flagged a “discrepancy between the regulator and the industry” in the overhaul of Solvency II regulations and urged the government to support UK insurers levelling up so they can help both the climate and the economy.