News
Insurers haul brokers into FCA BI case again
A joint skeleton argument attacks the FCA’s stance that SME customers are not sophisticated insurance buyers because they used brokers and slams Contra Proferentem as “restrictive” and “out of step”.
Barnaby Rugge-Price appointed chair of Howden Broking Group
Howden Broking Group has appointed Barnaby Rugge-Price as chair returning to the helm of the broking business from his recent position as CEO of Hyperion X.
Insurance industry pays respects to former Zurich claims manager Kerry Woolley
Kerry Woolley, 38, was found dead in her flat in Solihull, West Midlands, with a knife wound to her neck on Sunday and her ex-boyfriend has been charged with murder.
Government accused of missing the point on homeowner flooding support
Government flooding funding "misses the point" on homeowners, it was alleged, as £5.2bn was pledged towards various initiatives.
Restaurants that changed to takeaways under lockdown not 'same insured business' argues FCA
The Financial Conduct Authority has argued that where businesses made changes to their model and customers could not access them as normal, giving the example of a restaurant becoming a takeaway, they are not the "same insured business" and insurers…
Lloyd's syndicates pitch £11bn growth as Neal demands profitability first
Lloyd’s syndicates’ plans for 2021 include £11bn of fresh business, but some will be told that they must continue to focus on performance over growth as the market looks to “finish the job” it embarked on 2018 of turning around its profitability woes.
Insurers argue FCA BI victory would lead to ‘injustice’
Defendants in the Financial Conduct Authority’s BI test case warn providers could be liable for losses they never agreed to cover.
Direct Line acquires insurtech Brolly
Direct Line Group has agreed to acquire personal lines insurtech firm Brolly in a conditional transaction expected to close during the third quarter of 2020.
Car insurance premiums fall but ‘uncertainty’ dogs future pricing: WTW/Confused
While average car insurance premiums fell 5% in the second quarter of 2020, deeper analysis reveals more is going on beneath the surface as Willis Towers Watson and Confused warn of future pricing “uncertainty.”
Arch tells policyholders BI payments could be 'reduced to zero' if they wait for court judgment
Arch policyholders whose business interruption claims were confirmed to be covered by the insurer have been told that their payments could be “reduced to zero” depending on the outcome of the Financial Conduct Authority's test case.
Joint liquidators appointed for Gefion
Søren Aamann Jensen from the Danish law firm Kromann Reumert and Troels Askerud from Gefion have been appointed as joint liquidators of Gefion Insurance.
Andrew Tunnicliffe returns to Aon as UK chairman for global and specialty
Andrew Tunnicliffe has rejoined Aon in the newly created role of UK chairman, global and specialty, part of its commercial risk solutions, health solutions and affinity business.
Sam White launches Australian MGA Stella with £80m target
Pukka-owner Freedom Services Group has teamed up with private equity firm Envest and others to launch Stella Insurance, a digital managing general agent providing female-centric motor insurance in Australia.
Insurance Covid-Cast: Black Lives Matter focus - Q&A with the first minority-led tier-one insurance and reinsurance broker Protecdiv
For the 34th episode of Post and Insurance Age’s video series content director Jonathan Swift sat down with the founders of Protecdiv, a business that claims to be first minority-led tier-one insurance and reinsurance broker.
Ifed head highlights Covid-19 impact on fraud investigations
The recently appointed head of the Insurance Fraud Enforcement Department, Edelle Michaels, told Post insurers need to be more "joined-up" in the campaign to identify suspects and protect victims.
Insurer approaches to causation ‘legally flawed’ FCA argues in BI test case
The Financial Conduct Authority has alleged that insurers’ approach to causation in the business interruption test case is “legally flawed” and the defendants have “overlooked” contractual contexts.
CMA keeps up dual pricing pressure on insurers and regulators
Effective remedies are still needed to address the scale of the dual pricing problem in insurance, according to the latest update from the Competition and Markets Authority.
Insurers failed to raise issues with government's restriction triggers says FCA
Insurers should have offered government earlier ‘opportunity’ to regulate if they disagreed with restriction insurance triggers, the Financial Conduct Authority has said.
Brokers not responsible for BI test case insurance policies under contract law, argues FCA
The business interruption policies under scrutiny in the Financial Conduct Authority’s test case are presented ‘in the manner which most benefits insurers’ and therefore brokers should not take the blame for any contractual breaches, the regulator has…
Wunelli and Smart Driver Club founder Penny Searles joins Trakm8 as NED
Trakm8 has appointed Penny Searles as a non-executive director to help lead on the vehicle technology specialist’s strategic vision and commercial growth.
Action groups hit out at 'absurd' insurer defences in FCA BI case
Insurers have been accused of filibustering in relation to business interruption as firms suffer “devastating losses” following coronavirus lockdown.
Zurich offers free Covid-19 antibody testing to all employees and families
Zurich Insurance is offering all UK employees a Covid-19 antibody (serology) test for free.
Gallagher-backing and US opportunities will help drive growth, says Capsicum Re boss Swallow
Capsicum Re’s new chairman Raja Balasuriya is a “force to be reckoned with,” CEO Rupert Swallow told Post as the reinsurance broker unveiled the executive committee team line-up designed to lead the business through its next phase of growth.
Peter Staddon joins Trilogy MGA as NED
Trilogy Managing General Agents has appointed Peter Staddon as a non-executive director, effective immediately.