News
Hyperexponential’s CEO highlights next steps after $73m funding round
The insurtech’s CEO and co-founder shares how a “self-sustaining strong foundation” is essential to pique venture capitalists’ interest, and how the funds will fuel its international expansion.
Concern over workplace and political risks rises in the UK ahead of global trends
UK risk professionals are more likely to see the shortage of skilled workers, political risks and risks associated with new technologies as pressing concerns than their global peers, according to the Allianz Risk Barometer.
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.
Chaucer names Aspen’s Milner as new CEO
Richard Milner is leaving Aspen to head Chaucer Group, with Sarah Stanford announced as his interim replacement.
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…
Court of Appeal dismisses Covid BI appeals from Allianz and Various Eateries
The Court of Appeal has dismissed cases pleaded by restaurant operator Various Eateries and its insurer Allianz as to how Covid-related business interruption losses ought to be aggregated.
Allianz to rebrand two UK personal lines businesses
Allianz has announced plans to “boost” the Allianz brand presence in the UK personal lines motor and home market through a series of rebrands.
Ghost broker sentenced after targeting Sudanese motorists
A ghost broker who targeted Sudanese nationals living in the UK has been sentenced after LV’s fraud team spotted six motor insurance policies that he took out using false information.
Hiscox CEO highlights what’s next after Google collaboration
Hiscox’s London Market CEO shares why responsible tech development was paramount, and when the firm will roll out its AI underwriting model across the wider industry.
Longworth spearheads AI Code of Conduct
A voluntary code of conduct for the use of artificial intelligence in claims will be launched on 31 January, spearheaded by Eddie Longworth, founder and director of JEL Consulting.
Recruitment challenges leaves a ‘ticking time bomb’ for the industry
Davies has shared concerns that the apprenticeship levy is not being fully used, which is leaving the industry short of fresh talent.
Arch reports a shift in broker mindset on e-trading
Commercial lines brokers’ attitudes towards e-trading shifted in 2023, according to Arch’s UK regional distribution boss.
Jaguar Land Rover accused of denying customers insurance coverage
Following the launch of Jaguar Land Rover’s in-house insurance service for customers struggling to find coverage for their vehicles, the manufacturer has been accused of refusing to insure its own cars.
CII replaces Vallance with Legal Services Board CEO
The Chartered Insurance Institute has hired Matthew Hill, currently CEO of the Legal Services Board, as the group’s third CEO in as many years.
AI-driven false information tops short-term risks ranking
Artificial intelligence-driven misinformation and disinformation has topped the World Economic Forum’s list of short-term risks, while environmental risks continue to dominate the long-term picture.
R&Q shareholders narrowly approve Accredited sale
R&Q shareholders have approved the proposed $465m (£365.6m) sale of Accredited to Onex by a margin of 55.2% to 44.8%.
RSA and Brit partner; Policy Expert expands top team; Guidewire chair joins Hyperexponential
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
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”.
Biba teams up with two schools to attract talent
The British Insurance Brokers’ Association has launched a programme to boost diversity and raise awareness of the variety of careers in insurance.
Motor and home pricing stability not quite on the horizon
Pearson Ham experts suggest expecting personal lines pricing stability may be “premature”, as its quarterly premium tracker reveals a slowdown in motor premium growth while home continues to increase.
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.
Dilley departs Intact for Bridgehaven
Fronting insurer Bridgehaven has appointed Paul Dilley as its chief underwriting officer.
Biba demands more detail from government around regulatory scrutiny
The British Insurance Brokers’ Association has asked for more information about how HM Treasury and parliament will keep tabs on whether the industry’s regulators are doing a good job.