British Insurance Brokers' Association (Biba)
Sunak's plans to create more data analysts welcomed
Prime Minister Rishi Sunak’s plan to ensure all pupils in England study some form of maths until aged 18 has been welcomed by industry trade bodies.
Most-read insurance stories in 2022 revealed
The most-read Post stories of 2022 show what captured the insurance industry's attention as pandemic restrictions were lifted, inflation soared, many sectors went out on strike for improved pay and cyber-crime continued to escalate.
FCA says it will ensure ‘the polluter pays’ in FSCS review update
The main theme of feedback to a recent review of the Financial Services Compensation Scheme was the importance of firms improving their conduct to reduce the frequency at which the scheme is called into action, the Financial Conduct Authority has said.
Briefing: Government makes demands to Biba in response to ‘disturbing remuneration’ practices
The Secretary of State for Levelling Up, Housing & Communities, Simon Clarke has demanded ‘immediate changes’, ordering the British Insurance Brokers’ Association to address ‘disturbing’ remuneration practices following a Financial Conduct Authority…
Intelligence: Tackling subsidence surges in a climate change era
With hot summers becoming more likely in the future, subsidence surge and event years may be the new norm. Fiona Nicolson looks at how insurers are preparing for these claims in a climate change environment.
Insurance fraud expected to rise this year, reversing 2021 trends
Insurers and counter-fraud specialists expect the level of insurance fraud to increase this year, with the cost-of-living crisis driving more people to make dishonest claims.
Intelligence: Grenfell - five years on
Five years have passed since 72 victims lost their lives after after a fire ripped through a building featuring unsafe cladding. Rachel Gordon investigates what insurers have learnt from this, how building standards have moved on and if the prospects of…
Cool industry reception for regulatory interventions to solve dearth of cover
The Federation of Small Businesses has called on the Financial Conduct Authority to act in response to a survey it conducted that found that many businesses are finding it difficult to find insurance.
FSB calls on insurance industry to tackle widespread confusion over what commercial policies cover
The Federation of Small Businesses has called on the insurance industry to improve the clarity of policy wordings after it found that 30% of small businesses and the self employed have difficulties understanding what their insurance covers.
Biba targets a return to verbal communication with brokers to combat 'misunderstanding'
The British Insurance Brokers' Association wants insurers to bring verbal communication with brokers back to the claims process to "cut down the misunderstanding rate".
EY predicts motor NCR of 113.8% in 2022; Geo buys Lorega; Konsileo secures Series A funding; and ex-Fresh trio launch new broker
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Analysis: A ‘boring’ reputation leaves brokers facing hiring struggles
Recruitment issues have hindered UK brokers’ optimistic growth expectations and are impacting insurance brokers of all sizes, according to research from Aviv
Government-backed PI scheme for fire safety assessors to launch in September
A government-backed professional indemnity scheme for EWS1 assessors is set to launch in September and will last for five years.
Ecclesiastical's Saunders says keep up the momentum on mental wellbeing
With the UK economy potentially entering into recession, and concerns that the cost of living crisis could turn into a mental health crisis, Adrian Saunders, commercial director at Ecclesiastical, urges the market to keep mental wellbeing front of mind.
Howden acquires Tiger Risk; JMG buys GS Group; Allianz and Ifed secure convictions for fraudsters; and First Central in CMT tie-up
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Broker contributions to FSCS slashed as forecast levies are revised down
The Financial Services Compensation Scheme has issued final levies for 2022/23 of £5.3m for brokers and £211.7m for insurers, down significantly on initial estimates.
Brokers warned that a commission ban for multi-occupancy buildings could be the 'thin edge of a large wedge'
Compliance experts have warned brokers that the Financial Conduct Authority's decision to look at commission payments for multi-occupancy building could set a precedent for the future and be seen as an 'easy win' by government.
Admiral defeats fundamentally dishonest fraudster; Ardonagh Academy launched; start-up Coral aims to disrupt LEI sector; and Pool Re to cut prices
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
White takes aim at broker FSCS contributions in Biba opening address
British Insurance Brokers’ Association CEO Steve White has said that brokers “must not be left to pay over the odds for the failures of others” through their contributions to the Financial Services Compensation Scheme.
Price walking ban pushes motor premiums up; Zurich opens branch; Handl acquires IPRS; Mason Owen MBO; and under 30s telematics sales rise
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Intelligence: Greening the broking industry
Insurers are shouting loud and proud about the actions they are taking on environmental, social and governance issues, and this is moving down their supply chains too. Fiona Nicolson investigates how the broking sector is being affected by this, and how…
Intelligence: Our duty to protect must begin now
Protect Duty legislation has been touted as a way to reduce the potential for catastrophic events from terrorist attacks at publicly accessible locations, and it is likely to affect public and employers’ liability polices. But, as Edmund Tirbutt reports,…
Robust e-scooter regulation needed at 'earliest opportunity', sector urges Shapps
Four insurance industry trade associations have called on the government to bring in 'robust' legislation around the use of e-scooters as soon as possible if they are to be permitted beyond current trials.
Leaving IPT untouched in Spring Budget a 'missed opportunity' says Biba
The British Insurance Brokers' Association has warned leaving insurance premium tax at its current level will act as a disincentive to buy adequate insurance after the tax went unmentioned in the Spring Budget.