News
MIB holds ‘initial’ talks with stakeholders about modernising CUE
The Motor Insurers’ Bureau has held initial talks with stakeholders about the possibility of modernising its claims database, CUE.
ABI fraud head hails joint effort in combating cannabis farm property claims
The insurance industry’s efforts to stamp out the ongoing problem of illegal cannabis farms in partnership with the police and other agencies, has been singled out as a sign of the potential of what can be done with wider data sharing.
Admiral to become ‘technology company selling insurance’
As Admiral celebrates the 20th anniversary of listing on the London Stock Exchange, one of the provider’s technology leaders has revealed: “Years ago, we were an insurance company. We want to be a technology company that sells insurance. That’s the shift…
Tax take from insurers hits record high
The Association of British Insurers’ latest Total Tax Contribution survey, produced by PWC, showed the trade association’s members contributed a record £18.5bn to the UK’s public purse in the 12 months up to 31 March 2024.
Howden and Microsoft launch climate risk platform
Howden has collaborated with Microsoft on a platform aimed at enabling clients to manage climate risk and increase climate resilience.
Esure makes ‘sizeable’ savings from gen AI applications
Esure has said it could potentially save up to 8% on its frontline operations, and claims resource costs through generative artificial intelligence use.
Thatcham urges car makers to design with insurance in mind
Thatcham Research's CEO Jonathan Hewett has told Insurance Post that he hopes Thatcham's new vehicle rating system will ensure that car manufacturers see insurability as a design attribute.
Lloyd’s to ramp up business oversight to avoid past ‘mistakes’
Lloyd’s will increase its oversight of delegated and legacy business to avoid squandering the gains of recent remediation efforts, chief underwriting officer Rachel Turk has said.
Climate protesters enter Chubb’s Manchester office
Eight Extinction Rebellion protesters entered Chubb’s Manchester office yesterday (19 September).
GoCompare’s partnership; Axa’s claims service; Davies’ chief AI officer
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Biba calls for larger SMEs to be exempt from Consumer Duty rules
The British Insurance Brokers’ Association has called for larger SME commercial customers to be removed from the scope of the Consumer Duty requirements.
Lloyd’s names Sir Charles Roxburgh as next chair
Lloyd’s has named Sir Charles Roxburgh as its next chair, with the former Treasury official set to take up the position on 1 May 2025, subject to regulatory approvals.
Aon’s head of UK terrorism Richard Sawyer passes away
Richard ‘Dickie’ Sawyer, Aon’s UK head of terrorism, has died at age 47.
Ripe’s new CEO outlines plan for ‘next phase’ of growth
Two weeks after it was announced he would be taking over from Paul Williams as CEO of Ripe, Alan Thomas shares his plans to power the “next phase” of growth for the business.
Bspoke signs three-year capacity deal with SiriusPoint
Bspoke Group has announced a new strategic partnership with global specialty insurer and reinsurer SiriusPoint Ltd.
Q&A: Paul Baxter, The Green Insurer
Paul Baxter, CEO of The Green Insurer, discusses the company's approach to eco-friendly car insurance, mission to make driving greener, and plans for future growth.
Fraudster given jail time after faking driving documents and hiding offences
A man has been given jail time after he sold invalid insurance policies and tried to take out car insurance for himself by covering up his driving offences and using a fake no-claims discount certificate.
Terrorism legislation ‘likely’ to result in increased D&O claims
Legislation tabled in parliament last week is “likely” to result in more directors’ and officers’ claims and renewed demand for public liability cover, law firm DAC Beachcroft has warned.
Almost all claims handlers believe AI is creating fraudulent claims
94% of UK insurance claims handlers believe at least 5% of claims are being fraudulently created or altered using artificial intelligence.
ABI starts allyship training after Sexism in the City
The Association of British Insurers has rolled out allyship training to its member firms in response to the Treasury Select Committee’s Sexism in the City findings.
Mona Barnes appointed Aon’s global chief claims officer
Mona Barnes has been appointed global chief claims officer for Aon, effective immediately, after joining the broker last year.
LV reassures staff it is committed to Bournemouth
Allianz has confirmed that it plans to move roles lost to “natural attrition” to a call centre in India.
CII criticises insurers’ profiting from premium finance
The Chartered Insurance Institute has questioned the ethics of making money from customers who pay monthly for insurance after Which? found several motor and home insurers were charging what the consumer watchdog called “excessively high levels of…
Seven out of 10 underwriters fear AI will take their job
Research from Hyperexponential has revealed that 69% of underwriters are concerned about being replaced by artificial intelligence in the next five years.