Data & Rankings
How RSA’s exit and FCA action transformed motor insurance
How the exit of RSA from personal lines, plus extra regulation, caused motor insurers to slash windscreen cover, increase fees and up their game when it comes to accident management services is examined by Mike Powell, insight manager for banking and general insurance at Defaqto.
Roles that got a pay rise or cut in insurance revealed
Some insurance employees in 2024 enjoyed a 15% uptick in their salary while others saw their wages fall by nearly 10%, according to Reed’s Salary Guide for 2025.
FCA spots 30 misleading insurance adverts
Just 30 general insurance and protection adverts were amended or pulled in 2024, following intervention from the Financial Conduct Authority.
AI tops global risk index for insurance
The insurance sector is facing a seismic shift, as artificial intelligence emerges as the top-ranked risk for the year ahead, displacing all other major concerns.
What makes pet insurance customers happy revealed
Admiral and Agria have the greatest proportion of extremely or fairly satisfied pet insurance customers, according to the latest research by Fairer Finance.
Tokio Marine warns against over-reliance on cloud providers
Incidents like the CrowdStrike outage and supply chain attacks in 2024 have highlighted the vulnerabilities of over-reliance on cloud providers and single-point solutions, according to Tokio Marine.
Insurers to deepen ties with asset managers
Insurers will deepen their ties with alternative asset managers as they shake-up their investment portfolios in a bid to boost portfolio returns, according to Moody’s.
Claims service stayed steady at end of 2024
The consistent improvement in claims service seen over the last 18 months plateaued at the end of 2024, with the market average NPS remaining at -4 and just one point up on the NPS recorded at the end of 2023.
Aviva’s DLG deal pushes insurance past FTSE All-Share
The UK insurance sector managed to outperform the FTSE All-Share Index on a total return basis in 2024, thanks to “major outperformers” Just Group, Beazley and Direct Line Group.
Cyber insurers face increased loss ratios
As ransomware perpetrators are now targeting larger organisations in search of higher ransom demands, cyber insurers face a a greater hit to their credit ratings, Moody’s has warned.
Professional indemnity rates expected to fall rapidly
A capacity-driven professional indemnity insurance market offers the chance for growth and competitive pricing in 2025, Clyde & Co has predicted.
Use of M&A insurance policies surges
The use of warranty and indemnity insurance grew to record levels during the first half of 2024 while claims and payments increase, a poll of providers has shown.
Impact of RSA’s withdrawal on home insurance market
The UK home insurance market has seen a steady decline in both provider brands and product numbers over the last 10 years, according to Angela Pilley, insight consultant for general insurance at Defaqto.
Motor insurers with most satisfied customers revealed
NFU Mutual, Halifax, LV, Saga, and Direct Line have the most satisfied car insurance customers, according to Fairer Finance’s latest consumer survey, which also reveals an increase in premiums means fewer motorists are happy with their provider today…
How Covid-19 transformed commercial lines insurance
How the commercial lines insurance market has been shaken up in the last decade by mergers, acquisitions and Covid-19 is examined by Angela Pilley, insight consultant for general insurance at Defaqto.
Uptick in M&A activity among large carriers expected
An uptick in M&A activity at the larger end of the UK insurance carrier capitalisation spectrum is expected towards the end of this year, according to a Clyde & Co report.
Bloomberg forecasts fines will cause surge in cyber cover demand
Demand for cyber insurance is set to grow amid a spate of high-profile attacks and fines for accidental leaks, according to a market report from Bloomberg Intelligence.
Claims handling improvements stalled in Q3
Claims service is down on last quarter, but remains well above where it was this time last year, research conducted by Gracechurch has revealed.
Pace of general insurers’ race to net zero revealed
As the 2024 United Nations Climate Change Conference, known as Cop 29, begins in Baku, Azerbaijan, Insurance Post’s Emma Ann Hughes analyses the pace of providers racing to become net zero heroes.
Portion of buildings underinsured falls to six-year low
The percentage of UK buildings that are underinsured has fallen to its lowest level for at least six years, but remains “unacceptably high”, according to data from valuations provider Rebuild Cost Assessment.
Greatest blows to insurance’s Consumer Duty report writers revealed
The greatest challenges faced by those involved in evidencing outcomes or writing their company’s Consumer Duty board report in July 2024 have been revealed by a Chartered Insurance Institute poll.