Insurer
Unveiling the future of commercial insurance: education, engagement and technology
In the second instalment of the research series by Insurance Post and Crif, we explore how education, engagement and technology converge to shape a resilient future for commercial insurance.
Three-year time limit for new vehicle MOTs set to stay
The result of the Department for Transport’s consultation on the mandatory time limit for MOTs is likely to result in the rules remaining unchanged, Insurance Post can exclusively reveal.
Aston Lark’s latest acquisition; World Nomads’ travel product partnership; and Lloyd’s unveils Women’s Cricket Team
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Direct Line to refund £30m to overcharged home and motor customers
Direct Line has agreed to a past business review after the FCA found it had breached dual pricing rules, having charged some customers at renewal more than if they were a new customer.
‘Crash for Cash’ fraudsters shifting focus to rural and residential areas
The City of London Police’s Insurance Fraud Enforcement Department has said ‘crash for cash’ scammers are evolving their tactics after reported cases of opportunistic fraud soars by 61%.
Markel launches construction proposition; Pen secures solcitors' PI capacity; Partners& acquires Nex Gen
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
How usage-based insurance is gamifying driving
Alex Hamilton examines how usage-based insurance, artificial intelligence and insurtech partnerships are transforming the sector, gamifying experiences and encouraging better habits.
Aviva chiefs reveal how the provider achieved 13% GWP growth
Aviva bosses have revealed the part rate and new product lines played in pushing general insurance premiums up 13% in the first half of 2023.
Insurance M&A activity continues to slow down
Lack of demand for insurtech businesses plus concerns about a target company’s data security resulted in less merger and acquisition activity in the UK in the first half of 2023, according to Clyde & Co.
Financial Services and Markets Act: A victory against the regulator?
The Financial Services and Markets Bill was given Royal Assent on 29 June 2023, but is it a victory for the insurance industry – or a missed opportunity?
Aviva expands underwriting appetite; Flood Flash with Hiscox; Dual deal
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
HDI in hiring spree; GRP enters pet market; Flood Re appoints chair
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Bank to gain power to intercede as insurers collapse
The UK government has announced plans to establish a dedicated regime to deal with the failure of insurance companies.
Apil alleges ‘clear justice gap’ within personal injury claims
Analysis of the latest Official Injury Claim data by the Association of Personal Injury Lawyers alleges that a “clear justice gap” is present when it comes to road injury claims.
Arron Banks claims Barclays closed his account in 2018
In the midst of the saga surrounding Nigel Farage’s Coutts bank account, Arron Banks has also claimed to have had his accounts shut down.
Pen restructures; Percayso raises £2.7m; Axa’s Foley successor
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Which? warns insurers are falling short of Consumer Duty standards
As the deadline for the Consumer Duty edges closer, a Which? survey has highlighted shortcomings in how insurers explain rejected claims.
FCA extends latest product governance survey deadline
Having originally given brokers only a few weeks to send back a “demanding” survey into product governance and distribution practices, Post can reveal the FCA has extended its deadline from 11 August to 1 September.
How insurance boardrooms are changing
Data analysis: An EY survey has reviewed the movements of board members, with insurance showing a higher turnover rate than last year, which might be representative of new focuses within the boardroom.
Axa XL’s carbon emissions product; Defaqto’s updated Matrix software; Flock appoints CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Elon Musk joins the AI party
Elon Musk has announced the formation of xAI, his long-anticipated artificial intelligence startup designed to compete with Open AI’s Chat GPT, Google’s Bard, and other similar platforms.
Insurers unsure what diversity data they can collect, legal experts say
Firms have been urged to collect diversity data on a voluntary basis to be able to make “positive action steps” towards change.
BoE braces insurers to handle more cash-strapped customers
The Bank of England has warned higher interest rates increasing debt-servicing costs will result in general insurers having to handle a growing number of people financially squeezed in the coming months.
Best Insurance Employers to work for in 2023 revealed
Konsileo and Aioi Nissay Dowa Europe have been named as the greatest SME and large places to work, respectively, in this year's Insurance Post Best Insurance Employers Survey.