United Kingdom (UK)
Blog: Covid-19 - safeguarding home workers’ health and safety
The risk posed by Covid-19 has led many employers to set up home working for all or some of their employees as a way of reducing the risk to employees of exposure to Covid-19. Clare Bone, partner and solicitor advocate at BTO, argues the fact that an…
Hiscox looks to capital raise through share placement
Hiscox has announced an equity placing for up to just under a fifth (19.99%) of its issued share capital.
Fears for future of care home cover as sector sees coronavirus ‘revolution’
Brokers have raised concerns over the future of care home insurance cover as insurers stop quoting new business after care home responsibilities change in light of Covid-19.
Matthew Crane joins THB from QBE as CEO
Matthew Crane has joined THB Group as CEO and president of the international division of Amwins Group.
Biba unveils six board changes
The British Insurance Brokers’ Association has made six board changes across its smaller brokers, larger brokers, MGA and networks advisory groups, its standards council and an internal appointment.
Experts warn of potential broker insolvencies due to premium finance proposals
The British Insurance Brokers’ Association and premium finance providers have warned of a possible hit to broker solvency in the event of bad debts under the proposed guidance issued by the Financial Conduct Authority last week.
SMEs face legal threats from same insurers that are not paying out on their BI policies
Exclusive: Insurers seeking to recoup losses from other classes, such as event cancellation and wedding insurance, are threatening policyholders involved in business interruption group actions against them with legal action.
Carrot's Andrew Brown-Allan on Covid-19 and connected motor insurance
Covid-19 has sparked plenty of arguments in the motor insurance world, especially on whether customers should pay premiums for vehicles that aren’t going anywhere, let alone creating claims. Carrot's chief marketing officer Andrew Brown-Allan asks what…
Penny Black's Social World: May 2020
Coping with Covid-19, celebrating Earth Day and combating loneliness
Editor's comment: Apocalypse planning
Should there ever be a zombie apocalypse my friends, family and colleagues know that I fully expect to be the first to be picked off, equally should I ever be lost in the remote woods with a bunch of strangers and a monster on the loose I’d be the one at…
Roundtable: Measuring progress in diversity
As part of the Inclusion at Lloyd’s programme six partner networks have been set up to help bolster diversity and inclusion in insurance. Before the lockdown, Post gathered representatives from some of the networks together to find out what progress has…
Alway exits chairman role at Bravo
Alex Alway has resigned as chairman of Bravo Group, the business has confirmed.
Iprism growth on track after restructure, says MD Ian Lloyd
Iprism Underwriting Agency is growing its underwriting and bottom line profits after its restructure last year despite the impact of the coronavirus pandemic, according to managing director Ian Lloyd.
Interview: Partners&'s Barton & Reid
The easy answer to the question “when is a consolidator not a consolidator” is when nobody is being bought. Phil Barton and Stuart Reid spoke to Post senior reporter Emmanuel Kenning about their latest venture Partners&.
Insurance Monitor: On the back foot on business interruption
In this month's column, David Worsfold, a long-running commentator on the insurance market, explains why he fears the sector got off on the back foot on its business interruption coronavirus response, what Pandemic Re might look like and what impact the…
FCA consults on insurance payment deferral guidance
Insurers, brokers, premium finance lenders and more have been told by the Financial Conduct Authority to consider giving payment deferrals and refunds as well as waiving cancellation fees to customers hit financially by the coronavirus epidemic.
UK and US insured losses could hit $80bn under year-long lockdown: WTW
The UK and US insurance markets face losses of $80bn (£64bn) if lockdowns and social distancing measures to curb the spread of the coronavirus need to be kept in place for 12 months, according to Willis Towers Watson.
FCA scrutinises insurance value for money during coronavirus crisis
The Financial Conduct Authority has ordered firms to analyse if and how the coronavirus pandemic has impacted the value of personal and commercial lines insurance products and take appropriate actions.
Barton plans to more than double Partners& headcount to hit five year £50m revenue target
Phil Barton, CEO of newly formed Partners&, has forecast that the business can grow from 140 staff and £65m in gross written premium to 350 people earning £50m of revenue within five years without further buys.
This week in Post: Aon, dó, trí
Business interruption, the British Insurance Awards shortlist and Q1 results kept us busy this week, but it was a move by biggest-broker-in-waiting Aon that grabbed the most attention.
FCA to put BI wordings before the courts to determine coronavirus cover
The Financial Conduct Authority will ask the courts to rule on whether a “representative sample of the most frequently used” business interruption policy wordings provide cover for Covid-19-related losses.
Broker calls on Chancellor to release Pool Re funds to break insurer BI deadlock
Leisure and hospitality broker NDML and the The Night Time Industries Association have penned an open letter to Chancellor Rishi Sunak MP calling for the release of insurer funds worth £6.6bn held in the Pool Re terrorism fund.
Trade Voice: Foil's Jennette Newman on vicarious liability
Jennette Newman, vice-president of the Forum of Insurance Lawyers and partner at Clyde & Co, discusses the legal developments around vicarious liability and what recent court cases such as those involving Barclays and Morrisons mean for insurers.
FCA digs for details on financial resilience of brokers and MGAs
The Financial Conduct Authority has sent out letters to approximately 300 brokers and managing general agents asking them to provide detailed information regarding their financial resources and client money accounts.