United Kingdom (UK)
Claimant lawyers resigned to future discount rate rise
Claimant personal injury solicitors expect the discount rate to move back up as a result of the government’s consultation.
This Week: Stoic London
The generosity and heroic nature of Londoners came to the fore this week, when after two recent terrorism attacks the city saw the worst fire in recent history. Firefighters were heralded for entering the 24-storey flaming building and the community came…
Blog: Keeping up with the customers
Customer expectations have changed. Technological advances in the past five to 10 years have refocused entire industries on providing ‘real-time’ customer care. Mark Southern, commercial director for the WPA Group, explains that while insurance…
Blog: How insurers can rank high online against price comparison sites
Insurance companies need to use clever content strategies to make sure their website ranks high enough in search results to compete with aggregators. Here is some advice from Jonathan Moore, head of SEO at Equimedia
AIG partners to deliver Blockchain-driven policy
AIG has partnered with IBM and Standard Chartered to deliver the first multinational insurance policy using Blockchain.
US insurer Slice to expand to UK
US on-demand insurer, Slice, has confirmed its plans to expand to the UK after expanding to 13 states across the US.
Majority of insured losses from Grenfell Tower to be borne by reinsurance
The Norwegian company responsible for insuring the Grenfell Tower, which burned down yesterday, said reinsurers will bear the majority of the claims costs.
Five insurtech firms to begin testing in second round of FCA's sandbox
Five insurtech firms are set to begin testing in the second cohort of the Financial Conduct Authority’s sandbox after successful applications.
Ogden change to cost industry £3.5bn
The change to the Ogden discount rate from 2.5% to negative 0.75% is predicted to cost the market £3.5bn across all lines of business.
Bruce Carnegie-Brown officially starts as Lloyd’s chairman
Bruce Carnegie-Brown officially started as Lloyd’s new chairman today, taking up the role following the retirement of John Nelson.
Trade Voice: Apil's Brett Dixon on preventing whiplash claims
With some of the most congested roads in Europe and tailgating a major cause of low speed accidents in the UK, Brett Dixon, Association of Personal Injury Lawyers president, urges insurers to join his member in supporting Injury Prevention Day.
Will insurers Wanna Cry? On the legal repercussions of the global cyber attack
The Wanna Cry ransomware attack is going to bring into light cyber wordings and terrorism exclusions, explains Hermes Marangos, partner at Signature Litigation.
Watchstone faces £600m legal challenge from S&G
Watchstone is being forced to fight off a £600m civil case from law firm Slater and Gordon, over allegations of fraud.
UK General to launch 'cyber bullying' personal lines product
UK General is developing a personal cyber policy to cover against cyber bullying and social media hacking.
Neon expands offshore footprint with Sapphire purchase
Neon has expanded its offshore footprint through the acquisition of Guernsey-based Sapphire Underwriters.
Norwegian insurer to examine exposure following Grenfell Tower fire
A Norwegian insurer that took on the property and liability contract for the local authority responsible for Grenfell Tower could potentially see its UK expansion curbed as a result of huge claims.
ABI updates Salvage Code after two year review
The Association of British Insurers has updated the Salvage Code to include the complexity of newer vehicles.
Medco suspends two MROs as part of ongoing audit
The board of Medco has removed Tier 1 status from four organisations and suspended two as part of its ongoing audit programme.
Residents predicted catastrophic fire in Grenfell Tower block four years ago
The fire that engulfed Grenfell Tower last night, claiming several lives and leaving dozens injured, was predicted by residents four years ago.
Q&A: Sergio Pierro, XL Catlin
New rules on data protection will come into force in Europe next year. Sergio Pierro is a professional indemnity underwriter for international financial lines at XL Catlin, based in Paris, and focuses on cyber. He explains how companies can get ready for…
Wedding insurance: A promising market
The UK wedding market is worth £10bn and growing exponentially, but the wedding insurance market is comparatively less fruitful
Election result makes whiplash reform less likely to go through in proposed form
The general election result makes whiplash reform less likely to go through in its proposed form, experts said.
GRP to create southern hub through acquisition of Greens
Global Risk Partners has acquired a majority stake in Green Insurance Group.
Airmic 2017: Risk managers need to focus on the short term to tackle unpredictable risks
The risks facing UK firms are changing at such a pace that risk managers need to focus on the immediate short term not just the risks of the future, members of the Association of Insurance and Risk Managers heard.