News
FCA warns insurers to prepare for the ‘techlash’
Nikhil Rathi, CEO of the Financial Conduct Authority, has urged insurers to keep a human hand in the loop, as a “hyper-digitised” future is not for everyone.
Biba’s school initiative ‘trailblazer’ for supporting under-privileged students
Participating schools have praised the British Insurance Brokers’ Association programme for “shaping the future of education and careers” for young people.
Amazon to close down Insurance Store
Just 15 months after its October 2022 launch, Insurance Post can reveal that Amazon is closing down its UK Insurance Store.
FCA to probe insurers on non-financial misconduct
The Financial Conduct Authority has revealed it is “strengthening its expectations” on how regulated firms consider non-financial misconduct, and will commence a survey to assess the number of cases in financial services.
Insurance must prepare for a rise in deepfake AI fraud
Scott Clayton, Zurich’s head of fraud, shares how rapidly developing technology and digital manipulation threatens to put additional pressure on claims handlers, as deception becomes harder to spot.
Fraud ring uncovered by Keoghs and major retailer
Following a three-year investigation, Keoghs and an unnamed major retailer have exposed and convicted a sophisticated fraud ring.
Perils updates Storm Babet damage valuation to £586m
Perils stated £467m of the losses from Storm Babet and Aline occurred in the UK and were mainly flood-related.
Auxillis owner ‘in talks to buy Kindertons’
According to multiple industry sources, conversations are being held for the potential sale of accident management and mobility company Kindertons to Redde Northgate, the parent company of Auxillis.
Ageas CEO eyes home growth in 2024
Ageas CEO Ant Middle reveals how the personal lines insurer will use real-time pricing technology to boost the provider's home book in 2024.
Qover enters UK motor; ARAG seals DAS deal; OSB's Consumer Duty director
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Climate campaigners claim victory after insurers rule out EACOP
Reinsurance companies Sirius Point, Riverstone International, Enstar Group, and specialty insurers Blenheim and SA Meacock, have all officially ruled out involvement in the East African Crude Oil Pipeline.
Hyperexponential’s CEO highlights next steps after $73m funding round
The insurtech’s CEO and co-founder shares how a “self-sustaining strong foundation” is essential to pique venture capitalists’ interest, and how the funds will fuel its international expansion.
Bloomberg warns Admiral and DLG could suffer from FCA premium finance action
Admiral and Direct Line’s profits could be threatened if the Financial Conduct Authority clamps down on companies charging customers for paying motor insurance premiums monthly, Bloomberg Intelligence has warned.
MP highlights loophole in Leasehold Reform Bill
Matt Brewis, head of insurance for the Financial Conduct Authority, has appeared before a parliamentary committee to discuss the Leasehold and Freehold Reform Bill and been challenged by MPs over whether the current crop of rules ensure insurance costs…
Hiscox CEO highlights what’s next after Google collaboration
Hiscox’s London Market CEO shares why responsible tech development was paramount, and when the firm will roll out its AI underwriting model across the wider industry.
Recruitment challenges leaves a ‘ticking time bomb’ for the industry
Davies has shared concerns that the apprenticeship levy is not being fully used, which is leaving the industry short of fresh talent.
CII replaces Vallance with Legal Services Board CEO
The Chartered Insurance Institute has hired Matthew Hill, currently CEO of the Legal Services Board, as the group’s third CEO in as many years.
RSA and Brit partner; Policy Expert expands top team; Guidewire chair joins Hyperexponential
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Q&A: Diana Markaki-Bartholdi, The Boardroom
Following the opening of its first UK branch, The Boardroom’s founder, Diana Markaki-Bartholdi speaks to Frances Stebbing about her mission to bridge the gender gap and help more women executives become board members.
Biba teams up with two schools to attract talent
The British Insurance Brokers’ Association has launched a programme to boost diversity and raise awareness of the variety of careers in insurance.
ABI still 40% short of capacity for fire safety scheme
The Association of British Insurers’ Fire Safety Reinsurance Scheme, designed by McGill and Partners, is still some way off launching, despite numerous claims it would be ready by the end of summer 2023.
Biba demands more detail from government around regulatory scrutiny
The British Insurance Brokers’ Association has asked for more information about how HM Treasury and parliament will keep tabs on whether the industry’s regulators are doing a good job.
Aon appoints Jane Kielty as UK CEO
Aon has appointed Jane Kielty as its UK CEO, subject to regulatory approval.
Climate activists threaten to step-up action against insurers
Climate activists have kicked off the new year by warning the insurance sector “your time is up”, and have revealed plans to protest for a “fair and just transition” to secure a liveable planet for all.