News
Ex-BGL boss Matthew Donaldson moves to Chill
Matthew Donaldson, former CEO of BGL, has joined Three Rock Group as chairman.
Analysis: On the trail of e-scooter trials
Policymakers, retailers and environmentalists hope that e-scooters will be a green saviour. Trials to ascertain the risks are ongoing, as the insurance industry watches on with a wary eye.
Robert Kuchinski replaces Lloyd’s bound Patrick Tiernan as IUA chair
Robert Kuchinski, deputy chairman of the International Underwriting Association and head of commercial insurance at Zurich UK, has been elected as the new chairman replacing Patrick Tiernan who will be leaving Aviva to become chief of markets at Lloyd’s.
Insurers wary of CMC influx following whiplash reforms
Insurers are concerned that the implementation of whiplash reforms will result in an increase of personal injury claims management companies if fee caps are not introduced.
Michael Colao moves across to global CUO for cyber at Axa XL
Axa XL has named Michael Colao as global chief underwriting officer, cyber, reporting to the recently promoted global CUO for financial lines, Libby Benet.
CMC fee caps: Are proposed tariffs too generous or will they drive a choice exodus?
Insurers have argued that proposed fee caps for claims management companies may be too generous, while the claims sector has cautioned measures could reduce choice and service quality.
WCI calls on industry to help deliver 10,000 computers for schools
The Worshipful Company of Insurers has called on the industry to donate the money and equipment needed to supply 10,000 computers to schools so that all children can access online learning.
Cyber insurers hit back at suggested ransomware claims ban
Cyber insurers have hit back at former UK cybersecurity chief Ciaran Martin’s suggestion that ransomware claims payouts are fuelling organised crime and that a ban on such payments should be considered.
For the Record: BGL rolls out digital claims, Chubb backs Covid-19 cover, Covea in Vitality tie-up, insurtech funding hits £5.2bn and Tractable deals
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
MS Amlin Underwriting hires Bank of England's Vishal Desai as CRO
MS Amlin Underwriting has appointed Vishal Desai as chief risk officer joining from the Bank of England where he holds the role of acting head of division general insurance risk specialists & chief actuary.
Gibraltar-based Prometheus Insurance enters administration
Gibraltar-based Prometheus Insurance Company, formerly trading as Tradewise Insurance Company, has entered administration.
Worsening outlook for UK non-life insurers, says Fitch
Fitch Ratings has a worsening outlook for the UK non-life company sector, Graham Coutts, senior director, head of EMEA reinsurance has confirmed with market combined ratios for motor and home likely to be above 100% in 2021.
LV tops Aviva, Churchill, Nationwide and Saga to win customer service crown according to ICS
LV has again been ranked the top insurance organisation in the UK by the Institute of Customer Service in its biannual UK Customer Satisfaction Index, although the gap at the top between it and the chasing pack has been reduced.
Julie Page to lead UK in Aon-WTW exec team with Nicolas Aubert absent from line-up
Julie Page has been named as UK CEO in the leadership team that will come into place when Aon’s takeover of Willis Towers Watson completes.
Markerstudy restructures debts and looks to acquisitions with £200m PE-led investment
Markerstudy has agreed a £200m investment led by private equity firm Pollen Street Capital, which will see its debts to Qatar Re restructured and fund organic and acquisition-led growth.
Howden ready to buy again with £500m of firepower
Howden Group has a £500m warchest for acquisitions and investments, CEO David Howden told Post as the firm reported 6% organic growth in 2020.
Apollo names head of marine and energy liability after Howard Burnell's assault conviction
Rob Johnston has been named Apollo head of marine and energy liability, following Howard Burnell’s conviction for assaulting his then girlfriend.
Tesco Bank switching to in-house underwriter for all home and motor insurance
Tesco Bank new and renewing home and motor policies will be underwritten by Tesco Underwriting from August, the business announced on Tuesday.
Zurich offers free counselling to claimants
Zurich is to offer policyholders that make a claim free counselling sessions, following a nine-month pilot last year.
Debenhams and Weddingplan insurer ‘considering’ impact of Supreme Court ruling on wedding claims
The businesses behind Weddingplan and Debenhams wedding insurance are “considering” the impact of the Supreme Court judgment and what it means for policyholders who did not get lockdown payouts for cancelled weddings, Post has learned.
Curious case of the PPI huckster filing accounts from beyond the grave
Exclusive: The former boss of disgraced Bury-based claims firm Harringtons Advisory, Ibrar Akbar, passed away in 2019 – but his name continues to be used on accounts paperwork for another of his companies.
Committee calls for government PI scheme for fire risk assessors
The government faces calls to act as an insurer of last resort for fire safety engineers’ professional indemnity insurance.
Insurers count cost of Christoph as warnings of further flooding intensify
Storm Christoph is not expected to prove as costly as other recent winter storms, with PWC predicting insured losses could hit £120m, but could set the stage for more severe flooding as soon as next month.
We can double again, says PIB boss Brendan McManus after Apax deal
PIB Group can double in size over the next five years, CEO Brendan McManus told Post after private equity firm Apax Partners became the firm’s lead investor taking over from The Carlyle Group which has retained a stake.