News
Beazley aims at US levels of cyber uptake in hunt for UK growth
Beazley is targeting US levels of cyber insurance adoption in the UK, as it looks to grow its regional business, UK and Ireland country manager Sam Franks has said.
Cyber market to harden ‘as early as Q1 2025’
Research from Gallagher Specialty has warned there could be a shift in the cyber insurance market by as early as Q1 2025.
Rising freight claims cause headache for insurers
Insurers are seeing increasing numbers of claims relating to freight theft on Britain’s roads, according to RSA.
Bain Capital reportedly considering sale of Esure
Esure’s parent company Bain Capital is reportedly looking to sell the insurer, which it acquired in 2018.
Compare the Market utilising AI to ‘perfect’ product comparison
Compare the Market CEO Mark Bailie has labelled artificial intelligence a “godsend” as he pledges to use the technology to achieve perfect price comparison.
Government uncertain on Martyn’s Law’s insurance implications
Martyn’s Law, which will require public venues to boost their preparedness for terrorist attacks, has finally been introduced to parliament.
All pet policies could be lifetime ‘in next five years’
Speaking at Defaqto’s Smarter Financial Decisions conference, Anna-Marie Duthie, insight consultant at Defaqto, told the audience that the number of lifetime pet policies has skyrocketed in the last decade.
CFC bolsters UK regional distribution and teases European expansion
CFC has bolstered its UK regional distribution team and will soon have teams on the ground in continental Europe, group CEO Louise O’Shea has said.
Hiscox’s employee security cover; Markel adds legal expenses; Outbacker’s app
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Which? reveals insurer premium finance APRs
Research conducted by Which? has found that several motor and home insurers are charging what the consumer watchdog called “excessively high levels of interest on monthly payments.”
Lloyd’s proposes changes to misconduct framework
Lloyd’s has proposed a raft of changes to its misconduct framework, including making it clearer which behaviours are considered unacceptable and protections for whistleblowers.
CFC CEO makes pitch for ditching exclusions
Removing exclusions from insurance policies would be a net benefit for insurers both in terms of profit and customer experience, CFC CEO Andy Holmes has claimed.
Defaqto warns consumers are ‘brainwashed’ by prices
Speaking at Defaqto’s Smarter Financial Decisions conference today (12 September), Mike Powell, insight analyst at Defaqto, said customers are too consumed by price when picking a general insurance policy.
Compare the Market CEO aims to triple size of business
Compare the Market CEO Mark Bailie plans to triple the size of the business by pushing the price comparison website into fresh areas of financial services.
Reinsurers told they cannot ‘run from risk’
Reinsurers have been urged by Aon to “lean into risk” to protect the relevance of the broader insurance industry.
‘Persistence’ is key as Applied announces Zurich win
Tom Needs, CEO of Applied Systems Europe, has said persistence was key to winning commercial lines insurer business in the UK.
Pet insurance premiums decrease in August
Pet insurance premiums declined slightly in August, but remain 10% more expensive than a year ago, according to the latest Pearson Ham data.
Twenty firms face off for Lloyd’s Lab spots
The Lloyd’s Lab pitch day for its 13th cohort saw 20 firms go head-to-head for one of 10 spots in the market’s 10-week fast track programme for “fresh ideas” to challenge the insurance industry.
Private equity firm buys 50% of Policy Expert
Policy Expert bosses have claimed the home and motor insurance provider is “positioned for growth” as private equity firm Cinven has bought a 50% stake in the business from the Abu Dhabi Investment Authority.
Applied CEO ‘plays offense’ to fight off challenger firms
Taylor Rhodes, group CEO of Applied Systems said the firm studies any businesses looking to challenge and take some market share in a move he describes as “playing offense”.
Admiral founder Engelhardt shares investor relations battles
Henry Engelhardt, co-founder of Admiral Insurance Group, has questioned whether investor relations should be replaced with statements on the business.
Applied now ‘more mature’ when dealing with AI
Anupam Gupta, chief product officer for Applied Systems, has said the company and wider market is more mature now when talking about artificial intelligence than it was a year ago.
Charles Taylor InsureTech steps up London Market digitalisation
Charles Taylor is to offer Delegated Data Manager to London Market clients as an elective market service via London Insurance Market Operations and Strategic Sourcing.
Marsh and Aon call for lifting of Ukraine exclusions
The world’s two largest insurance brokers have urged for the removal of blanket Ukraine exclusions in order to aid the country’s reconstruction efforts.