Articles by Harry Curtis
'Disappointing' Aon/WTW merger could see risk managers turn backs on broking giants, warns Airmic CEO
The UK risk management association Airmic has voiced disappointment at Aon’s merger with Willis Towers Watson, warning that its members are prepared to turn to alternative modes of risk transfer if they feel they aren’t getting value for money.
Aon CFO outlines costs and timeline of WTW merger
The cost of bringing together Aon and Willis Towers Watson will be up to $1.8bn over three years, with the combined firm facing a months-long process of securing regulatory approval in almost 100 jurisdictions around the world.
Aon strikes deal to buy Willis Towers Watson
Aon is set to buy fellow broking giant Willis Towers Watson in an all-stock deal worth $29.9bn expected to close in the first half of 2021, subject to regulatory and shareholder approval.
Coronavirus disruption not covered by BI policies, says Aviva
Aviva's business interruption policies will not cover disruption caused by the coronavirus outbreak, the insurer’s general insurance CEO Colm Holmes has confirmed.
Aviva has axed 1200 of 1800 jobs set to be cut
Operating profits for Aviva’s UK general insurance business fell 35% to £250m in 2019, though the result excludes the £45m cost of strengthening reserves following July’s Ogden rate revision, as it revealed it has cut 1200 jobs across the company so far.
Coronavirus to gain notifiable disease status across UK
Businesses disrupted by the coronavirus outbreak may be able to recoup their losses if they have purchased insurance policy extensions indemnifying losses stemming from “notifiable disease”, following updates to public health statutes.
Lloyd's silent cyber mandate leads to 'challenging conversations' over cover
A mandate issued by Lloyd’s of London with the aim of tackling the issue of insurers’ exposure to silent cyber coverage has led to questions over how some cyber-related risks will be underwritten in future.
Direct Line profits slump under weight of restructuring and Ogden rate
Direct Line’s profits slumped by 12.2% in 2019 as the group incurred the first of a multi-year package of restructuring costs and strengthened reserves in response to the revised Ogden rate.
Ardonagh adds agricultural specialist Rural to MGA suite
Ardonagh has acquired agricultural specialist Rural Insurance Group from Primary Group for an undisclosed sum.
Analysis: Closing the natural catastrophe protection gap
Though losses from natural catastrophes fell in 2019, the proportion of losses that were uninsured rose to a three-year high. Post investigates why.
UK insurers warned they could face US-style social inflation
UK insurers could soon see their claims costs increase as a result of social inflation similar to that which is challenging carriers in the US, law firms RPC and Hinshaw and Culbertson have warned.
Jon Hancock to become AIG international GI CEO after leaving Lloyd's
Jon Hancock has been appointed CEO of AIG’s international general insurance division, and will join the company this spring.
Hastings looks to suppliers and fraud detection to staunch claims inflation
Hastings is hoping that investment in its anti-fraud capabilities and supplier partnerships secured in the tail-end of last year will mitigate the impact of claims inflation on its bottom line.
ABI calls for annual government flood defence spending to rise to £1.2bn
Jon Dye, the chair of the Association of British Insurers, has called for government flood defence investment to rise to at least £1.2bn a year.
Restructuring costs weigh on Ageas' 2019 profits
Ageas UK saw its profitability slump by 21% last year, reporting full-year profits of £60.3m compared to £76.7m in 2018.
Ex-Lloyd's CEO Inga Beale joins Crawford board
Former Lloyd’s of London CEO Dame Inga Beale has been elected to the board of directors of Crawford & Company, as an independent director effective 11 February.
Storms Dennis and Ciara could cause greater claims surge than the Beast from the East
Storm Dennis has caused a second weekend of claims surges across the UK, and together with last weekend’s Storm Ciara, could be on track to exceed the impact on claims volumes of 2018’s Beast from the East.
Insurers and organisers count cost of events cancelled by coronavirus
Organisers and event insurers face uncertainty over what cancellations stemming from the ongoing Covid-19 coronavirus outbreak will cost them, as wordings are pored over and new policies have cover for the virus stripped out.
Cybercriminals look to exploit panic over coronavirus outbreak
Cybercriminals are increasingly using crisis events such as the ongoing Covid-19 coronavirus outbreak to breach the security systems of businesses and individuals.
Covid-19: Travel insurers at odds on coronavirus approach
Travel insurers are keeping a close eye Foreign Office travel advice and have taken differing positions on whether travelling to China amid the ongoing coronavirus outbreak would invalidate policyholders' coverage.
Insurance policies likely to provide limited protection from coronavirus costs
Businesses seeking to use insurance to recoup costs incurred by the ongoing coronavirus outbreak are likely to find their cover wanting, due to a raft of exclusions, stringent notification criteria and sublimits.
Beazley aims to halve costs as COR creeps up in 2019
Beazley hopes to slash its expense ratio in half as a result of the proposed widespread reform of the Lloyd’s market and internal investment in automating simpler classes of business.
Insurer concerns on lenders' insurance requirements
Allianz has called on brokers to be more proactive in discussing the implications of financing agreements on clients’ insurance policies, warning that the conditions being requested by lenders are becoming increasingly onerous.
Aviva's Colm Holmes warns distracted driving is causing claims inflation
Aviva general insurance CEO Colm Holmes has said that claims inflation is far exceeding expectations, pinning the blame on poor driving.