News
Lloyd’s re-appoints Bruce Carnegie-Brown as chairman
Lloyd’s of London has re-appointed Bruce Carnegie-Brown for his third term as chairman, effective from June 2022 and running to June 2025.
Aviva wins TSB tender; Gallagher Re to recruit 40; Pine Walk Capital launches MGA; and Beazley launches Crypto Guard
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Insurers ‘no longer aligned with tech advances in automotive’
Driver-centric models are “no longer sufficient” to properly assess motor risk in the age of advanced driver safety systems, Swiss Re has found.
FCA move to ban ‘phoenixing’ a step in the right direction but more could be done to stop dishonest CMCs
Financial Conduct Authority plans to impose significant changes on claims management companies that would prevent ‘phoenixing’ are a step in the right direction but the industry has called for more action to stop dishonest CMCs.
Brokers 'remarkably resilient' in a challenging market as more growth predicted
Brokers are continuing to “rise to the challenge” of difficult market conditions and mergers will continue unabated experts believe.
Panel flags lack of understanding from consumers as biggest barrier to getting hold of data
It is “incredibly” important consumers understand how their data is used to remove the barrier insurers are facing when trying to get hold of data, a conference has heard.
E-scooters come with significant risks and require regulation: Axa’s Distefano
Axa’s managing director for home and motor Marco Distefano has urged regulators and insurers to get to grips with the risks presented by e-scooters, though they remain illegal on UK roads.
Telematics still perceived as difficult, but demand for usage-based products expected to increase: Ageas’ Clarke
While the demand for usage-based insurance products is expected to increase, driven by the reduction in driving, telematic products are still perceived as difficult, a conference has heard.
Managing supply chain without risk trade-off is like 'building an aircraft in the air', says Swiss Re
Swiss Re is developing a database tool to map supply chains that it believes will allow clients to track and predict risk as disruptions account for almost 40% of a supplier’s economic performance.
Insurers pick at Stonegate’s causation and aggregation arguments as Covid BI trial continues
The High Court battle between the UK’s biggest pub group and three insurers – MS Amlin, Liberty Mutual and Zurich – continued on Tuesday with the insurers taking issue with the pub group’s submissions regarding causation and aggregation.
David Williams joins Humn as NED
David Williams has joined insurtech company Humn as non-executive director to assist the company as it continues its growth and investment in autonomous vehicle products and begins international expansion.
Alison Platt to replace Mark Winlow as chair of Ageas UK board
Alison Platt has been appointed as chair of the Ageas UK board, replacing Mark Winlow whose 10 year tenure with the business comes to an end in September.
Insurance industry stuck on legacy systems, says Charles Taylor’s Hurst
Charles Taylor’s Europe, Middle East and Africa sales director Jennifer Hurst has said the move into a digital world remains “quite a big project” as the insurance industry is still stuck on legacy systems.
Stonegate underscores varied pandemic impact on individual establishments as £1.1bn Covid BI trial gets underway
Stonegate kicked off its Covid-19 business interruption suit against its insurers on Monday, claiming that “the story of no two venues during the pandemic is the same”.
Analysis: What is driving the increase in credit hire fraud
With Aviva reporting a 10.7% increase in motor injury claims fraud, Post investigates what is driving the increase in credit hire fraud.
Consideration of systemic cyber risk threatens to prevent insurers providing 'viable solutions'
Caution from insurers mindful of the systemic cyber risk is in danger of preventing the insurance market catering to the needs of businesses, William Wright, partner and director at specialist broker Paragon, has said.
Carbon insurer Kita explores 'brand new market for the insurance industry'
Appointing itself the 'world's first carbon insurer', nascent Lloyd’s Lab start-up Kita is aiming for managing general agent status within the year and hopes to start insuring carbon reduction and removal products by early 2023.
War and inflation to drive biggest commercial insurance shake-up since 9/11, says Mactavish's Carslaw
The commercial insurance market is heading for its biggest shake up in 20 years due to the knock-on effects of the war in Ukraine, inflation and other factors, Mactavish managing director Heidi Carslaw has said.
Howden acquires Tiger Risk; JMG buys GS Group; Allianz and Ifed secure convictions for fraudsters; and First Central in CMT tie-up
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Public-private partnership to tackle systemic risks 'in the government's interest', says Pool Re CEO Clementi
Pool Re CEO Tom Clementi has said that it is in the government’s interest to pursue a public-private partnership with the insurance industry to address systemic risks.
Experts urge major threshold changes to improve UK listed companies’ competitiveness in international auctions
Legal experts have urged the Financial Conduct Authority to take major steps to increase the threshold for requiring shareholder approval of significant transactions to stop UK listed insurers being at a disadvantage in competitive mergers and…
David Howden labels sector as 'lazy' and 'lethargic' as he warns relevance of insurance is slipping away
David Howden has challenged the insurance industry and the risk managers that buy insurance to reflect on how relevant they are to the world of business.
FOS appoints Abby Thomas as CEO and chief ombudsman, as service faces backlogs
The Financial Ombudsman Service has appointed Abby Thomas to the role of CEO and chief ombudsman.
MGAA appoints Tim Richards as technical services manager
The Managing General Agents’ Association has appointed Tim Richards to the newly created role of technical services manager as part of its wider growth and development strategy.