Unrated insurers
MGA looks to relocate 13,500 customers following Lamp collapse
Exclusive: Now 4 Cover is looking to relocate policies of 13,500 of its customers, following Lamp’s descent into insolvency.
FSCS to pay out £6.9m to taxi drivers insured by collapsed Alpha
The Financial Services Compensation Scheme is the process of paying out £6.9m in premium refunds to 9000 taxi drivers that were covered by collapsed unrated Danish insurer Alpha.
Dewsall-owned MGA Hogarth enters liquidation
Hogarth Underwriting is to be wound up and its creditors stand to lose money, according to the final administration report.
CBL Corporation placed into liquidation
The New Zealand high court has placed CBL Corporation into liquidation.
General insurers see FSCS levy increase £1m more than expected for 2019/20
The Financial Services Compensation Scheme has revealed that its levy for 2019/20 will be £532m over a twelve month period, £16m more than planned, with general insurers paying an extra £1m than anticipated.
Analysis: Iprism moving beyond Gable
Managing general agent Iprism's latest accounts show profits dived and tens of millions of pounds was wiped off the valuation of the company, following the demise of former unrated insurer partner Gable.
Iprism and MGU Eaton Gate no longer trading together
Exclusive: Managing general agent Iprism no longer deals with its former director’s managing general underwriter Eaton Gate, Post can reveal
CRL ‘making progress’ in placing Alpha policies as FSCS extends deadline
The Financial Services Compensation Scheme has given CRL Management an extra two weeks to find an alternative insurer for its customers that were insured by collapsed Alpha Insurance.
Enterprise sees claims costs rocket from Ogden impact
Enterprise could pay out £101.4m more in UK claims than its administrators had predicted, largely owing to the Ogden rate hit on its motor book.
Gable CEO Dewsall withheld 'critical' information in administration of Hogarth Underwriting
Exclusive: Gable CEO William Dewsall ignored “numerous requests” from administrators of his underwriting vehicle Hogarth Underwriting.
Gable disputes £8.8m worth of claims in bankruptcy hearing
Failed unrated insurer Gable has disputed 100 claims totaling CHF 10.9m (£8.8m) in its first bankruptcy court hearing.
FSCS mulls raising levies on brokers using unrated
Exclusive: Brokers that continue to use unrated capacity, despite the collapse of insurers like Alpha and Gable, could pay higher levies to the Financial Services Compensation Scheme next year.
Iprism chair declares turnaround complete after Gable fallout
The chair of underwriting agency Iprism has vowed that it will never work with unrated capacity again having only just got its house in order after the collapse of former partner Gable in 2016.
This month in Post: lessons learned, space travel and why every insurer wants a time machine
Following the collapse of Danish insurer Alpha hundreds of black cab drivers were left unable to work and without any insurance cover. With little communication from the insurer the drivers took matters into their own hands and besieged the offices of a…
Analysis: Has the industry learned its lesson after the collapse of a third unrated insurer in two years?
After three months of solvent run-off, Danish insurer Alpha finally fell over last month. Its collapse sent shockwaves through the market and prompted black cab drivers to besiege the offices of their London broker.
Blog: Eight things to look out for at Biba 2018
As the UK insurance sector descends on Manchester for the 2018 British Insurance Brokers' Association conference, Jonathan Swift predicts some of the key talking points on the floor and in the bars around the venue.
UK brokers warned over unrated insurers following action on Danish carrier
Brokers have again been warned against using unrated carriers following solvency difficulties at Danish carrier Alpha Insurance.
Analysis: Markerstudy's turbulent year
Last month, Qatar Re signed a deal to buy Markerstudy’s Gibraltar-based insurance companies after year-long rumours of a sale had only started to die down
FCA warns against ‘bogus’ firm operating in the UK
The Financial Conduct Authority has issued a warning to insurers against an unregulated financial services provider targeting UK consumers.
Analysis: The impact of FSCS funding proposals on brokers
In 2016 the Financial Conduct Authority released a raft of proposals that examined potential changes to the way the Financial Services Compensation Scheme was funded.
Manchester Underwriting's Charles Manchester on Grenfell and PI
Manchester Underwriting CEO Charles Manchester examines the possible knock-on effects of the Grenfell Tower tragedy on the professional indemnity market.
Broker: Feeling exposed?
Many brokers’ professional indemnity policies contain exclusion clauses that limit their cover, leaving them and their customers exposed
Charles Manchester on brokers using unrated insurers
Brokers are regulated by the Financial Conduct Authority, so they don't really come into contact with the Prudential Regulation Authority, which is primarily concerned with the soundness of insurers, ensuring protection for policyholders.
Post Power List 2017: Samantha Barrass
CEO, Gibraltar Financial Services Commission