News
Mapfre is testing generative AI
Mapfre, Spain’s biggest insurer, has confirmed it is already testing generative artificial intelligence.
Former Foil president predicts more legal consolidation
Further consolidation of the insurance defendant legal market is on the cards, according to Keoghs partner and former Forum of Insurance Lawyers president Don Clarke.
Charlotte Hedemark elected Ferma president
The Federation of European Risk Management Associations has elected Charlotte Hedemark, a risk management expert at German software company SPA, as its next president.
Shortlist revealed for 2023 Claims & Fraud Awards
Today we can reveal the shortlist for the 2023 Insurance Post Claims & Fraud Awards.
D&O insurers could favour long-term agreements in search of pricing stability
Insurers and buyers of directors and officers’ insurance could look to strike long-term agreements to lock in current rates, as both search for pricing stability.
Winn Group targets high-profile partnerships after more than doubling turnover
After Winn Group increased turnover by 139% in 2022, founder and executive chairman Jeff Winn has targeted some big-ticket partnerships to take it past £300m by the end of 2023.
Ferma calls for governments to help resolve cyber market issues
The Federation of European Risk Management Associations has called on public authorities to aid in resolving thorny issues facing the cyber insurance market.
Tough times ahead for motor insurers after ‘worst performing year in a decade’
Motor insurers should expect further losses this year as high inflation and low premium costs continue to hound the sector, reports say.
More FCA action against AR brokers is nigh
Sue Mallender, senior consultant of regulatory consultancy Sicsic Advisory, has warned the regulator is likely to place restrictions on more appointed representative general insurance broking businesses in the months to come.
Value chain, commissions and productivity under fire in discussion over industry relevance
The insurance value chain has to be shortened if the industry is to remain relevant to corporate clients, broking bosses have said.
CMA reverses Copart merger decision after industry support
Having originally raised competition concerns, the Competition and Markets Authority appears to have completed a u-turn on its findings around Copart’s acquisition of Green Parts Specialist Holdings Ltd (formerly Hills Motors).
Zurich aims to build sustainable supply chain
Zurich has shared plans to build stronger transparent environmental reporting with its suppliers, and how it aims to be “one of the most responsible” sustainable companies in the world.
Bank of England says claims inflation will continue to affect every insurer
The Bank of England has provided feedback to the market from its review on the effect of claims inflation and whether insurers took recommendations on board.
Qover and Revolut partner; Marsh to aid Ukraine; AIG appoints CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Commercial renewals leave businesses open to cyber attacks
Current industry practices around commercial insurance renewals leave businesses vulnerable to cyber attacks, the founders of an industry-backed data sharing platform have said.
Allies needed for underrepresented voices to be heard
Leaders in the financial services sector have shared the importance of how allies push for a more inclusive environment, but need more to step up and speak out.
RSA poised to launch partnership with cyber MGA Resilience
RSA is preparing to launch a cyber proposition with US-based managing general agent Resilience, the insurer’s UK specialty boss has said.
More changes for Allianz as Hobbs is named chief distribution officer
Nick Hobbs has been revealed as chief distribution officer for Allianz Commercial in the UK, effective immediately.
Davies to face no regulatory action over cyber attack
The Financial Conduct Authority and Information Commissioner’s Office won’t be taking action against Davies Group following last summer’s cyber attack.
CII and PFS clash continues as more board members exit
Two long-standing independent directors of the Personal Finance Society have quit the board, citing “significant concerns” about the Chartered Insurance Institute’s hold over the financial advice body's coffers.
Essex car racer’s insurance claim is fast and fraudulent
An Essex mechanic has had his £30,000 insurance claim for injury thrown out of court after he failed to mention he had previously broken his spine, pelvis, neck, and ankle while banger racing.
Aon, Lloyd’s and VIG team up to support Ukraine’s reconstruction
Aon, Lloyd’s, and Vienna Insurance Group committed to providing enhanced reinsurance capacity to support Ukraine’s country’s recovery and reconstruction efforts.
Dive In aims to unlock innovation through inclusivity
Insurance Post is media partner for this year’s Dive In Festival, which will take place from 26 to 28 September and launch a mentoring programme.
Watch Zurich, Allianz, Markel, Guidewire and SS&C discuss claims inflation
The industry is facing the brunt of rising inflation across most lines of insurance as carriers see claims expenses mounting.