News
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.
Growing cyber insurers look to ILS market for catastrophe loss protection
Issuance of cyber catastrophe bonds took off in Q4 of 2023, with four carriers securing more than $400m of coverage – more than five times what the capital markets had provided prior to the quarter.
Aon appoints Jane Kielty as UK CEO
Aon has appointed Jane Kielty as its UK CEO, subject to regulatory approval.
FCA to clamp down on premium finance outliers in 2024
Briefing: The Financial Conduct Authority’s head of insurance Matt Brewis has labelled premium finance a “poor product”, and warned the regulator has “talked about it enough,” hinting at potential action surrounding the practice in the next 12 months.
Climate activists threaten to step-up action against insurers
Climate activists have kicked off the new year by warning the insurance sector “your time is up”, and have revealed plans to protest for a “fair and just transition” to secure a liveable planet for all.
Changes within LV’s EV team as Nowell departs
LV has confirmed that Gill Nowell, head of electric vehicle communication, has departed the firm and consolidate her role.
Fake documents for £150K claim costs claimant £20K
A court has ruled a dishonest claimant, who faked documents used to submit a £150,000 personal injury claim to Allianz, must cover at least £20,000 of the insurer’s legal bill.