Articles by Peta Fuller
Budget 2016: UK to be driverless cars ‘centre for excellence’
A £15m "connected corridor" from Dover to London and further driverless car and truck trials were all announced in today's (16 March) Budget.
Budget 2016: Osborne increases IPT 0.5% with funds raised to be spent on flood defences
Insurance premium tax will rise again with Chancellor of the Exchequer George Osborne today (16 March) announcing in his Budget speech a 0.5% increase effective from 1 October.
IPT rise would not have ‘significant impact’ on Hastings
A speculated insurance premium tax hike in the 16 March Budget would not disadvantage Hastings Insurance Group due to the company’s high market share from comparison websites, according to its chief financial officer, but customers would be worse off.
Helvetia COR improves but IFRS profit down 21% due to “accounting effects”
Swiss-based Helvetia Group saw its IFRS after tax result fall to SFr309m (£220m) (2014: SFr393m) but there was an improvement in its combined operating ratio to 92.1% (2014: 93.5%) and other profit metrics.
Munich Re CEO to step down
Nikolaus von Bomhard will depart as CEO of reinsurer Munich Re in April 2017, with his role to be filled by Joachim Wenning.
Cyber criminals increasingly moving from privacy breaches to extortion
Increasingly sophisticated malware and ransomware attacks are rising to the top of the cyber threat list, with industry cyber experts predicting a surge in ransomware incidents in 2016.
CII targets women’s futures in new campaign
The Chartered Insurance Institute has officially launched a three-pronged initiative to reinvent insurance for women.
UK-based insurance disruptor Zugar Znap expands to Europe
Millennial-focused insurer Zugar Znap will expand into France and Germany in a joint venture with German-based start-up platform Mass Up.
Helvetia Holdings to reduce board size
Three board members at Helvetia Holdings will not stand for re-election, following the integration of the (re)insurer with Nationale Suisse and a planned reduction of Helvetia’s board.
Five sentenced in Birmingham over £30k crash-for-cash claim
A group of five men pleaded guilty in an insurance fraud case and were today (8 March) handed suspended sentences and ordered to pay a total of £10,800 in compensation.
#Postpeople: 8 - 14 March
All the latest insurance industry market moves between 8 and 14 March 2016 in full in one place.
Zurich promotes for top underwriting role
Jane Hayes has been formally promoted to chief underwriting officer for general insurance in Europe, Middle East and Africa and Zurich Insurance Plc.
Risk management must improve as some slavery reporting falls short
Companies must step up their risk management activities as reporting requirements around the new Modern Slavery Act come into force this year, with lobby groups claiming some of those already reporting are falling short.
Driverless HGVs to be trialled in UK under government plans
Driverless lorries will be trialled on UK motorways this year with funding for trials expected to be earmarked in the 16 March Budget, according to reports.
Jail for insurance fraudster after failure to repay £13k
A man who failed to repay more than £13,000 following his conviction for medical insurance fraud has now been jailed.
Big data take-up slower among mid-tier UK insurers
Fewer mid-tier UK insurance firms are prioritising big data, with less than half prioritising such strategies compared to 82% of their large counterparts, according to a market survey.
NIG moves Manser to lead broker and etrade markets
NIG has appointed a new managing director, Neil Manser, to oversee broker markets and etrade.
#Postpeople: 1 - 7 March 2016
All the latest insurance industry market moves between 2 and 8 February 2016 in full in one place.
Profit cannibalisation and regulation concerns pushed Google's aggregator exit
Cannibalisation of profits and regulatory concerns were among key reasons behind Google's decision to exit the competitive aggregator space, but this may not be its last venture into this sector according to market analysts.
FCA to pilot general insurance scorecards
The regulator has announced plans to pilot general insurance ‘scorecards’ on a select number of products.
DLG storm losses total £130m and push commercial COR to 104%
The December 2015 floods in the UK pushed Direct Line Group's commercial combined operating ratio to 104.5% (2104: 98.8%) but CEO Paul Geddes said the company's results remain in line with competitors.
AA calls on Osborne to avoid another IPT hike
The AA is urging Chancellor of the Exchequer George Osborne, pictured, not to further increase insurance premium tax in the March budget.
Hiscox reports 6.5% pre-tax profit fall as GWP rises
Hiscox’s pre-tax profit dropped by £14.9m to £216.1m in 2015 as the company reported increased gross written premiums of £1.94bn (2014: £1.75bn).