News
Collaboration needed on climate resilience as UK must ‘get used to’ floods
Collaboration is the key to improving climate resilience, according to a panel of experts at the Chartered Insurance Institute’s Shaping the Future of Insurance conference.
A-Plan to be replaced by Howden on high streets
The A-Plan brand is to disappear from 100 branches across the UK, replaced by the Howden brand.
Parametric elements could become part of the basic make up of an insurance policy
With customer expectations increasing, and speed of settlement becoming more and more of a priority, the Chartered Insurance Institute’s Matthew Connell and Altus’s Patrick Hayward believe some parametric elements could become part of the basic make-up…
Climate change not primarily responsible for rising nat cat claims at Lloyd’s
Climate change will “amplify” other factors that increase natural catastrophe claims but are not the main driver of the upward trend observed in recent years, according to Lloyd’s.
Ripe CEO plans to snap up rivals
Insurtech Ripe has completed its first M&A transaction by acquiring specialist boat insurer Craftinsure, with bosses revealing plans to snap up other rivals.
Lloyd’s chief takes aim at ‘moronic’ D&O underwriting
Lloyd’s chief of markets Patrick Tiernan has said he does not want to be forced to remediate a “shambolic” directors' and officers' insurance market, and instead expects to see a “voluntary pullback” from underwriting that has caused concern among market…
FCA issues deadline for insurer action over Gap products
The Financial Conduct Authority has written to insurers warning that more action is required in order to guarantee good customer outcomes.
MPs call for OIC case backlog investigation
In a report published today, the Justice Committee has urged the Ministry of Justice to investigate the case backlog within the Official Injury Claim portal.
CII reveals who scored top marks in insurance exams
Marsh, Axa, Gallagher, Zurich, Allianz, QBE, RSA, NFU Mutual and Hiscox employees were among those who scored the top marks in Chartered Insurance Institute exam and coursework submissions in 2022.
Home insurance payouts outpace premiums in Q2 2023
The latest figures from the Association of British Insurers reveal that £782m was paid out in home insurance claims in the second quarter of 2023.
Booze blamed for third of insurance employees facing prejudice
More than a third (37%) of insurance workers have seen sexist, racist, homophobic, ableist and ageist behaviour or heard discriminatory language in the workplace, according to a University of Nottingham study.
Ex-Hiscox CEO Masojada joins insurtech to target large insurer clients
Instanda has recruited former Hiscox group CEO Bronek Masojada, pictured, as an adviser as it looks to build on its existing client heartland of MGAs and start-ups to win over more mainstream insurers too.
Miller settles negligence suit brought by Cardiff City FC
Miller Insurance has agreed a settlement with Cardiff City Football Club, concluding a professional negligence suit brought against the broker in connection with the death of Emiliano Sala in 2019.
Three technological leaps that could destroy insurers
Artificial intelligence, genetic scissors, and brain-machine interface were identified by CFC as the top emerging technology trends insurers insurers need to prepare for if they want to be Netflix rather than Blockbuster.
Zurich waives return of insurance settlement for bird sculpture
Zurich has waived the insurance settlement for a rare £30,000 Wally Bird sculpture, which was stolen nearly two decades ago and has been now been recovered and returned to the London borough where it was crafted in 1894.
Aviva exits Singlife joint venture; Clearspeed and PWC partner; Cila elects president
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Ardonagh and Markerstudy’s £1.2bn merger confirmed
The Ardonagh Group and Markerstudy Group have agreed a merger between Markerstudy and Atlanta Group, Ardonagh’s personal lines broking business, to create a “major new player” in the UK insurance market.
PRA won’t tell insurers how to spend £100bn Brexit dividend
Prudential Regulation Authority CEO Sam Woods has said it will be for the government, not regulators, to ensure insurers invest the dividends of forthcoming reforms in the UK.
Vitality drops out of car insurance market after just two years
Vitality has dropped out of the personal lines motor market after just two years, announcing that it is “no longer offering new car insurance policies,” Insurance Post can reveal.
Heather Smith’s exit sees further changes at top of Allianz
Allianz has named Henry Topham as the new managing director of its UK retail business, following the news Heather Smith will be leaving to head up Axa Health.
Motor and building insurance complaints hit five-year high
Quarterly data from the Financial Ombudsman Service shows that complaints relating to motor and buildings insurance have reached their highest level in five years
By Miles co-founder reveals next project
By Miles co-founder Callum Rimmer has unveiled his latest start-up aimed at tackling “slow” and “expensive” pricing software issues that plague the insurance industry.
PI discount rate consultation closes ahead of 2024 review
The Ministry of Justice’s consultation into establishing a dual/multiple PI discount rate closed yesterday, with the final decision to be made in July 2024.
Three insurance industry challenges for Gen Z to fix
Use artificial intelligence as an assistant, don’t let inclusion be a tick box exercise, and shape your company’s climate change efforts was the advice to Generation Z who attended iCan’s Elevate conference last week.