The Chartered Insurance Institute has urged regulators to take caution as they adopt an increasingly data-driven approach to policing the financial services sector, warning “digital breadcrumbs” can’t replace human insight.
Pool Re has expanded its definition of SMEs to include firms with assets up to £5m, increasing the number eligible for its business interruption cover at no extra cost.
Insurance losses resulting from months of deadly bushfires in Australia are estimated to be A$431m (£228m), according to the Insurance Council of Australia.
The idea of a Flood Re Plus scheme has been mooted by Airmic as a solution for those businesses that struggled to obtain flood cover
George Culmer is set to become senior independent non-executive director at Aviva when incumbent Glyn Barker retires from the insurer’s board at the end of the year.
Victor Insurance will operate at Lloyd’s as a “virtual syndicate” writing follow-on business as it looks to provide its capital partners opportunities to participate in risks around the world.
Insurance broker turned Conservative parliamentarian Craig Tracey was returned as the MP for North Warwickshire in yesterday’s general election.
FSCS has paid out a total £276m following the collapse of unrated insurers Alpha, Gable and Enterprise
The UK’s Financial Services Compensation Scheme has paid out a total £276m in claims to the policyholders of three overseas unrated insurers that collapsed between 2016 and 2018.
Consumers are ready for greater use of auto-switching services across many areas of household bills including home and car insurance, Go Compare CEO Matthew Crummack has said.
The onset of climate change and the increased risk of flooding that comes with it could necessitate a ‘Flood Re Plus’ covering commercial properties, the UK risk management association Airmic told Post.
Arch Insurance has made Stuart Danskin director of underwriting for its UK regional division, which was formed at the start of this year.
A consortium of 18 Lloyd’s syndicates has announced a $25m-capacity-per-risk space insurance product that seeks to capitalise on a predicted tripling of the size of global space market by 2040.
The Bermudian premier David Burt has sung the praises of his country’s insurance market as a “sandbox” for innovative insurers and called on the London market to collaborate on efforts to drive the sector forwards.
Digitalisation remains the juggernaut that insurers cannot sidestep if they are to remain relevant. However, they risk falling behind more agile rivals if they fail to modernise their back offices: the beating heart of the business which might be in need…
US-based HW Kaufman Group has acquired Barbican Protect as part of its continued expansion into the UK market.
The perception of exposure to cyber risk in non-cyber policies dropped over the last year, according a survey conducted by Willis Towers Watson.
Data subject claims are on the rise and will be “the next in a long line of mass litigations” producing “exposures in the tens of millions”, according to Kennedys.