Articles by Francesca Nyman
VRS Vericlaim buys Certo
Sedgwick-owned specialist loss adjuster VRS Vericlaim has purchased claims handler Certo in a bid to boost its third party administration and commercial loss adjusting capacity.
Household rate rises required despite long-term benefits of connected home
The connected home may favourably impact the profitability of the household market but benefits are unlikely to offset the effect of declining premium in the short term, according to insurers.
Insurers must ready themselves for European data changes
UK insurance professionals have been warned not to underestimate the huge changes that lie ahead in data protection, after a survey revealed almost one third are unaware of the forthcoming European General Data Protection Regulation.
Nexus targets European acquisition after further BP Marsh cash injection
Niche venture capital provider BP Marsh & Partners has increased its investment in independent specialty managing general agency Nexus Underwriting Management in order to support its acquisition plans.
Airmic 2015: Five things we learned from the Airmic panel debate
Often seen as nothing more than an opportunity for broker and insurer finger pointing, this year’s Airmic panel debate benefited from the presence of a risk manager in the form of BP insurance manager Lesley Harding.
Boards must be more active in delegated authority oversight
The boards of insurers that use delegated authority arrangements must take a more active role in their oversight, following the “warning shot” from the Financial Conduct Authority over such arrangements, compliance experts have cautioned.
Life sciences insurers facing recruitment challenges
Ensuring those who write life science policies remain up-to-date with the latest scientific developments is a key challenge, with those who work in-house often finding themselves out of the loop on key developments.
Directors could be held personally liable for cyber attacks
Company directors and officers could be personally exposed to lawsuits, shareholder actions and regulatory activity if they are found to have breached their duty in the wake of a cyber-attack, according to Marsh.
Fidelis model could usher in era of 'responsible underwriting', says Brindle
The business model pioneered by new insurance start-up Fidelis could stoke a move towards more “responsible underwriting”, according to CEO and chief underwriting officer Richard Brindle.
Former QBE underwriter Bathia to join new Capita-backed syndicate
Capita Managing Agency and Panamanian insurer Istmo Re have received "in principle" approval from the Lloyd's Franchise Board to establish a new Lloyd's syndicate under Capita management.
GAP market faces shake-up after FCA competition remedy
Firms distributing guaranteed asset protection insurance in connection with the sale of a vehicle from 1 September 2015 will be required to provide customers with information to help them shop around following new rules published by the Financial Conduct…
Understanding brand value holding up progress in reputation coverage
Difficulty quantifying brand value is hampering the development of the reputational insurance market, despite increasing demand from companies to protect their brands from the threat of social media onslaughts.
Female millennials shun insurance over career progression fears
The insurance industry is failing to keep hold of talented female workers, or even attract them in the first place, due to a perceived lack of equal opportunities.
Companies must educate employees on 'major' licence changes
The elimination of the paper counterpart to the UK driving license will have a major impact on businesses and employees who drive company vehicles, according to Jonathan Dye, head of motor at Allianz Commercial.
ILS taskforce meets government for the first time
The industry task force established to work with government to investigate ways in which more Insurance Linked Security business could be attracted to London met with representatives from HM Treasury for the first time on Friday (5 June).
Aviva relaunches broker training site
Aviva has launched a refreshed version of its online training site for brokers, the Aviva development zone.
CILA rejects proposals for surveyors to oversee resilient rebuilding
The Chartered Institute of Loss Adjusters has questioned proposals to train property surveyors in resilient rebuilding methods, claiming its own members are much more suited to the role.
FCA hires new director of enforcement from Hong Kong's SFC
Mark Steward has been appointed as the Financial Conduct Authority’s new director of enforcement and market oversight, while Barbara Frohn will become its director of risk and compliance oversight.
Indian ocean 'provocations' risk increased piracy attacks
A perceived decline in the global piracy threat is leading some vessels to reduce risk mitigation measures, leaving them vulnerable to attack, according to a new report.
FCA slams Lloyds Bank's ‘unacceptable conduct’ as it issues £117m PPI fine
Lloyds Banking Group today (05 June) received a landmark fine over its mishandling of Payment Protection Insurance Complaints.
L&G puts Hove staff on notice
Legal and General has put a number of staff at its Brighton and Hove office on notice of possible redundancy.
Millennials keen to trade blood and urine samples for premium discounts
Millennials in the UK are prepared to give up their own blood, urine, and personal data if it means lowering their insurance premiums, according to a survey conducted by generation researchers Decode.
Theme parks warned to check safety systems after Alton Towers crash
Theme park rides made by the same manufacturer as ‘The Smiler’ at Alton Towers should review their safety procedures ahead of increased scrutiny form the health and safety executive, the managing director of specialist theme park broker Marsh & Company…
Human error to blame for 75% of cyber breaches at large firms
Human error continues to feature heavily in cyber breaches despite increased staff training, according to a new report.