United Kingdom (UK)
Hiscox CUO sells £1.2m shares
Richard Watson, the chief underwriting officer at Hiscox, has sold a total of £1.2m of shares in the company.
Trade voice: CILA'S Malcolm Hyde on business ethics
Business ethics has become increasingly important in recent years for many reasons, including increased stakeholder scrutiny. This is not surprising in the light of financial institutions’ scandals, the MPs’ expenses scandal and perhaps the influence of…
One in three insurance firms to set up operations outside UK following Brexit
One in three insurance firms intend to set up operations outside the UK following Brexit.
Identity fraud: Trading faces
With almost 173,000 reported cases last year, identity fraud is an ever-increasing problem. Insurers are taking a proactive approach to fight this pernicious problem
FCA increases budget to tackle Brexit costs
The Financial Conduct Authority has increased its operating budget as a result of Brexit demands.
FCA to launch probe into use of Big Data in retail pricing
The Financial Conduct Authority will carry out a review this year on how Big Data affects pricing in retail insurance.
Blog: Whiplash, discount rate, Vnuk and driverless cars on the road ahead
The Association of British Insurers’ announcement that motor insurance premiums hit their highest recorded levels at the end of last year is another reminder that change is long overdue in the personal motor market. That’s coming but will it be enough?
Blog: How to destroy data securely
As an insurance company, it is absolutely essential to take extra care when destroying documents or materials containing any sort of personal or financial information.
Blog: IoT 2017 - It's not all about data
As an insurer, understanding the Internet of Things and solutions it offers to our customers is one of our key priorities. But we also know that if we only think about IoT and insurance from one perspective, it can lead to the wrong answer. We need to…
Blog: Risk of flooding will not decrease without collaboration
As an insurer, we do unfortunately see first-hand the devastating impact flooding can have on homes and livelihoods.
Brokers slapped with £10m increase to FSCS levy
Brokers will face an extra £10m levy over last year as a result of an expected spike in the number of payment protection insurance claims.
Andy Bord appointed permanent CEO of Flood Re
Andy Bord, interim CEO of Flood Re, has been appointed to the role permanently.
Week in Post: Doing a Chris and Gwyneth – but who gets to keep the tofu Easter egg?
Easter is all about new beginnings. This will be true for us more than most, as we at Incisive Media celebrate our new ownership.
AM Best downgrades MS Amlin’s Lloyd’s Syndicate 2001
AM Best has downgraded the financial strength rating of MS Amlin's Lloyd's syndicate 2001 to A from A+.
Insurance M&As expected to focus on insurtech
The days of mega-mergers in the insurance industry may be behind us as consolidation activity has dropped significantly from the peaks of 2014 and 2015. The sector is contemplating this change of gear and steadying itself in the face of waves of global…
Blog: Don't be phased by the IDD
Insurance companies and intermediaries responsible for selling insurance and reinsurance products should not be phased by the prospect of tightening rules to guard against mis-selling, following the publication of the first of two consultation papers…
LV to cover reinsurance rate rises with higher premiums
LV will cover any reinsurance price rises as a result of the Ogden rate cut solely through premium increases.
Kieran Rigby appointed as president of Crawford International
Kieran Rigby has been appointed to president of Crawford international, encompassing the UK, Europe, Asia-Pacific and Latin America.
Industry wary of consultation on 'virtually unenforceable' Vnuk ruling
Industry bodies have raised concerns about the government’s consultation on the ‘Vnuk judgement’, saying that it could lead to increased costs and fraud.
LV takes £139m hit from Ogden cut
LV took an £139m hit to strengthen its claims reserves as a result of the decision to cut the Ogden rate.
Enterprise Act: Paying the price for paying late
With the Enterprise Act coming into force on 4 May, policyholders will now be able to claim damages for late payment of claims. Are insurers ready?
Aspen Insurance teams up with US Risk on marine
Aspen Insurance will offer marine insurance across the United States through a partnership with the wholesale broker US Risk.
Brexit uncertainty to curb European insurance M&A
The political uncertainty surrounding Brexit will reduce merger and acquisition deals in Europe, according to AM Best.