News Analysis
Are higher home excesses killing smaller claims?
After Verisk saw a 17% increase in the average home insurance claims cost, due to a decline in the number of low-value claims submitted by policyholders, Scott McGee asks: what is causing customers to stop submitting small claims?
Insurers must bridge the knowledge gap of ‘especially dangerous’ malware
Andrew Martin, CEO of DynaRisk, has called on insurance firms to be better informed around a type of malware that was used as part of the attack on the MGM Grand casino last year.
Could premium finance face Gap-like FCA action?
After the Financial Conduct Authority’s Matt Brewis labelled premium finance a “poor product”, Scott McGee examines if the industry has done enough to defend this method of paying for insurance or whether the regulator will soon feel forced to clamp down…
Why Ageas buying Direct Line makes sense now
Having been talked about as a takeover target itself in recent years, content director Jonathan Swift observes Ageas’ move for Direct Line marks a change in fortunes for the Belgian insurance group and makes perfect sense in terms of fit and timing.
Was the Amazon Insurance Store doomed from its launch?
Briefing: After 15 months, the Amazon Insurance Store is coming to an end. Scott McGee asks the question: ‘What went wrong?’ and ‘Was it doomed from the outset?’
MoJ told to fix whiplash before introducing more reform
Panellists speaking at an Association of British Insurers event about civil justice urged the Ministry of Justice to fix the whiplash reforms before bringing about any new further changes that affect the motor insurance sector.
Many Pets’ £42m loss highlights issues
Many Pets posted a £42m loss for the year to 31 March 2023, on top of the £31m loss for the year before.
Former colleagues heap praise on BIA Achievement winner Amanda Blanc
This year’s British Insurance Awards achievement winner Amanda Blanc has been described as an "outstanding strategy executor," "principled," and "the best boss I ever had," by those who know her best.
Chancellor to sign EU financial services co-operation agreement
Jeremy Hunt, Chancellor of the Exchequer, will sign an agreement on financial services co-operation with Mairead McGuinness, European commissioner for financial stability, financial services and the capital markets union.
Motor repair sector must step up EV training or face talent gap
The motor repair industry is facing a massive talent shortfall in qualified EV repairers if it does not start ramping up its training and recruitment.
Insurance reflects on two years of the OIC portal
Today marks two years since the Official Injury Claims portal was launched. Industry experts react to the progress the portal has seen, teething troubles it has overcome, and what is still in need of work.
Renters Bill gives bad tenants more power to play system
Richard Finan, director of strategic development for legal expenses and rent guarantee insurer Arc Legal Group, struggled to see many positives when it came to the newly published Renters (Reform) Bill.
Ardonagh’s Joe Conway on playing the M&A long game
Joe Conway, head of M&A for Ardonagh Advisory, believes that building trust is the key, and that part of this can mean turning away a potential acquisition and introducing them to another buyer if this is the right thing to do for the broker.
Businesses urged not to pay ransomware demands by the National Cyber Security Centre
The CEO of National Cyber Security Centre, Lindy Cameron, has instructed companies not to pay ransom to cyber criminals and instead set up suitable defence systems.
In conversation: Biba’s White and Trudgill on broker leasehold commissions
After Levelling Up Secretary Michael Gove said he was “outraged” at the findings of an FCA report into broker remuneration surrounding leaseholders in multi-occupancy buildings, British Insurance Brokers' Association chief executive Steve White and…
Coalition enters UK excess cyber market; JMG Group acquires New Era; Gallagher Re appoints CEO
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva’s Winslow hopes for easing inflation as PL motor shrinks slightly
Adam Winslow, Aviva GI CEO for UK and Ireland, says diversification helped the firm weather a drop in personal lines motor business, and shares Aviva’s approach to pricing and building out the HNW book.
Editor’s Picks: Musk’s move, navigating losses and regulatory improvements
As we approach the end of February, the headlines that caught your attention on Insurance Post this month show the challenges and opportunities facing the industry one year on after Russia invaded the Ukraine.
Ex-Somerset Bridge CEO Bilney to helm new UK authorised motor insurer Lumun
Former CEO of Somerset Bridge, Liz Bilney hopes to launch a new Prudential Regulation Authority authorised insurer Lumun by Q4 this year, Insurance Post can exclusively reveal.
Gove to ban insurance commissions for freeholders
After an FCA investigation and a tribunal ruling, the Secretary of State for Levelling Up, Housing and Communities, Michael Gove has outlined plans to ban managing agents and freeholders from taking commissions when taking out buildings insurance.
Aviva looks to HNW and SMEs for growth
Adam Winslow, CEO of Aviva UK & Ireland General Insurance, has revealed plans to increase the provider's share of the high-net-worth insurance and SME cyber market in 2023.