United Kingdom (UK)
Reinsurance rate decline slows at April renewals
The 1 April reinsurance renewals saw rate reductions range from flat to mid-single digit reductions, an improvement compared to the low double digit range seen 12 months ago, according to Willis Re.
Open GI completes Biba software house review
Open GI is the first software house to complete an independent review by the British Insurance Brokers’ Association.
LMA leads industry call for data protection law change
The Lloyd’s Market Association has coordinated an industry response calling for the Information Commissioner's Office to change its guidance over incoming data protection rules from the European Union.
Davies makes first acquisition since private equity investment
Davies Group has acquired regulatory services business Cynergie UK, its first deal since gaining a new equity backer.
Ex-Zurich head of sales joins GRP Broking
Chris Sime has left Zurich to head up business development at GRP Broking, the specialist investment vehicle for brokers and managing general agents.
Former Independent staff hit with further delays to redundancy payouts
Former employees of Independent Insurance have been hit with delays to redundancy payouts that were expected to be announced on Friday.
Grahame Chilton: Gallagher growth will be ‘stronger post-Brexit’
Arthur J Gallagher’s long-term growth will be stronger following Britain’s exit from the European Union, Grahame Chilton CEO of Gallagher International said.
This Week in Post: BST, the baby and Brexit
British Summer Time is now allowing us to enjoy more daylight as all our clocks moved forward an hour last weekend. Except, that is, for my 15-month-old daughter’s biological clock. For her bedtime this week, she’s decided to do her own thing. Pretty…
Blog: Engaging tomorrow's customers today
Insurance has traditionally been considered a grudge purchase, driven by the legal requirements for cover and a desire for financial protection. Indeed, 41% of respondents in a Consumer Intelligence poll said they thought of insurance as "a necessary…
Despite the rhetoric, sexism is alive and well in the insurance industry
Working in the insurance industry, you hear a lot of talk about diversifying the workforce and attracting young people to the market.
Insurers to be hit with transparency rules from this weekend
Insurers will be forced from this weekend to conform to tough transparency rules over policy renewals.
Lloyd’s sees underwriting hit following £2.1bn major losses
Lloyd’s has seen underwriting profits slip on the back of major claims of £2.1bn last year.
Lloyd’s confirms Brussels as post-Brexit destination
Lloyd’s has confirmed it will be setting up a new European business in Brussels following the government’s decision to invoke Article 50.
Biba calls for EU free trade agreement as Article 50 is invoked
The British Insurance Brokers’ Association has called on Prime Minister Theresa May to make "urgent progress" in setting up a new free trade agreement with the European Union now that Article 50 has been invoked.
Live: Industry reacts as government triggers Brexit
Check out Post's live blog on industry reactions as the government invokes Article 50.
Ireland urged to ‘draw lessons’ from Lloyd’s Brussels decision
Ireland’s trade body for insurance said lessons need to be learned from Lloyd’s decision to pass up on Dublin as its European subsidiary.
Lloyd’s body recommends Brussels as EU destination
The Lloyd's Franchise Board has recommended that the market chooses Brussels as the location of its post-Brexit subsidiary, Post understands.
PRA plans fee for Solvency II internal model approval
The Prudential Regulation Authority has announced a proposal to introduce a fee for Solvency II full and partial internal model approvals.
Blog: The future of CMCs
Listening to the entirety of the Second Reading debate on the Prisons and Courts Bill last week, I was reminded once again of the pitfalls of short-sighted and ill-thought-out policy changes in the claims sector.
AA profits hit by greater aggregator spend
AA saw profits dip by 2.6% last year due to a higher marketing spend on aggregator sites.
Global insured disaster losses hit $54bn in 2016: Swiss Re
Natural catastrophes and man-made disasters in 2016 resulted in insured losses of $54bn (£43bn), an increase of 46%, according to Swiss Re's latest Sigma study.
Competition watchdog updates investigation into price comparison sites
The competition watchdog will look into whether price comparison sites could be more transparent.
Blog: Being prepared for a ransomware attack
Imagine this scenario: Your employees walk into the office on a Monday morning, turn on their computers and a message appears demanding payment to access company systems and data.
Discount rate cut could triple PI claims costs: Marsh
Changes to the personal injury discount rate could increase the cost of personal injury claims by as much as three times, according to Marsh.