UK
CII consultation usefulness in doubt over believed low response rate
Insurance specialists have queried how the Chartered Insurance Institute will be able to lean on the findings of its recently closed Shaping the Future consultation due to the reported 1% response rate.
Brit appoints Kanika Chaganty as first chief data officer
Brit has named Kanika Chaganty chief data officer, effective from today.
FCA issues fair value warning amid government's flats insurance review order
The Financial Conduct Authority has written Dear CEO letters to insurers and brokers, putting pricing models, product fair value and commission in the spotlight after the government ordered a review into the "failing" insurance market for leaseholders.
EY: investor confidence in UK FS hits new high; James Hallam backs broker start-up; Lloyd's approves insurtech Syndicate and Pen inks £300m QBE deal
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Michael Gove orders review into ‘failing’ insurance market for leaseholders
The government has called on the Financial Conduct Authority to start a probe into the “crippling costs” of insurance premiums for residents of blocks of flats as it hit out at the current unacceptable situation.
Outlook deteriorating for UK non-life company market: Fitch
The market combined ratios for motor and home insurance will be north of 100% in 2022, Fitch has forecast.
Insurance in the vanguard on consumer duty, says FCA’s Matt Brewis
The Financial Conduct Authority sees insurance as ahead of the game on consumer duty after the work on pricing and value in recent years, the regulator’s director of insurance and conduct specialists Matt Brewis has indicated.
General Insurance Fraud Committee hopeful on spam advert legislation
The General Insurance Fraud Committee is hopeful that online advertising will be included in the Online Safety Bill, Clare Lunn, director of financial crime at LV GI and chair of the GIFC told Post.
FCA lacks ‘precision’ and regulators need greater accountability, inquiry hears
London Market trade body representatives have told a Lords’ inquiry that the regulator’s ‘one size fits all’ approach to insurance must change and more accountability is needed.
My Other Life: Alice Hendy, founder, R;pple Suicide Prevention
After losing her brother to suicide in 2020, Alice Hendy, head of Europe for cyber security awareness and education at QBE, turned her IT skills to creating a tool to prevent more families experiencing the grief hers did.
Biba calls for IPT cut to 10% with 2022 manifesto launch
The British Insurance Brokers’ Association has urged the government to cut Insurance Premium Tax to 10% in the next budget and pushed for targeted relief for three areas.
Biba takes aim at weight of regulation and broker FSCS costs
The British Insurance Brokers’ Association has put regulatory and Financial Services Compensation Scheme reform in the crosshairs as it called for a cut in insurance premium tax in its manifesto.
WTW's Frederick Gentile on taking a realistic approach on supply chain resilience
Frederick Gentile, director of risk engagement at Willis Towers Watson, shares his checklist for supply chain resilience, and says leaders need to take a more realistic approach to survive.
WTW adds ex-Lloyd’s digital leader Lou Smith
WTW has appointed Lou Smith as commercial lines data strategy lead in its insurance consulting and technology unit.
Lloyd’s adds Miller as commercial director
Dawn Miller has been named Lloyd’s commercial director from the second quarter of this year, joining from Chubb.
Tesco confirms Gary Duggan as permanent chief insurance officer
Tesco Bank has made Gary Duggan its permanent chief insurance officer and CEO of subsidiary Tesco Underwriting.
Hastings Direct adds Mark Cliff as non-exec chair after Peter Blanc departure
Hastings Direct, the broking entity within the Hastings Group, has appointed former Ageas and Brightside leader Mark Cliff as independent non-executive director – chair designate.
Howden 'the British powerhouse' says CEO as organic growth hits 19%
Howden Group has reported a 48% increase in revenue to £1.15bn and a 50% rise in Ebitda to £335m for the year ended 30 September 2021.
Das compensation in ex-CEO fraud case lowered as insurer’s 'lack of candour' criticised
Das is now set to receive £5.96m rather than £8.28m in compensation from its fraud case against three former senior employees.
Are businesses in a position to address the increase in mental health issues such as Covid Anxiety Syndrome?
Forward-thinking employers should provide their staff with targeted mental health and well-being support to improve retention and create a more positive working environment, argues Shamira Graham, director of corporate solutions at Onebright
Briefing: 10 insurtech start-ups to watch in 2022
For a seventh year running, Post content director Jonathan Swift scans the insurtech space and identifies a host of up-and-coming businesses potentially worth watching over the next 12 months and beyond.
Lloyd’s COO Jennifer Rigby to depart
Lloyd's chief operations officer Jennifer Rigby is leaving on 21 January with Burkhard Keese taking on the role in a new structure.
Ardonagh Specialty expands cross-class follow-capacity solution to $600m
Ardonagh Specialty has expanded its cross-class follow-capacity solution to include Price Forbes’ property business, Post can reveal.
LV’s Michael Lawrence on the trends and changes in the broker market
Michael Lawrence, distribution and underwriting director for LV Broker, assesses the 2021 developments in the broker market and explains how resilience, versatility and a clear strategy will be as important as ever this year.