Coverys-backed Lloyd’s Syndicate DTW 1991 is to stop accepting new and renewal business from 31 December 2020.
Financial pressures caused by Covid-19 could lead to an increase in guaranteed asset protection insurance fraud, with some insurers already seeing worrying signs, experts have cautioned.
IBM’s work contained “extensive” and “material” issues in both design and execution that should not have been present at a late stage of development, a Direct Line Group subsidiary has alleged in an ongoing legal spat over an IT contract.
Drivers who use their vehicles for non-essential travel under lockdown will not risk invalidating their motor insurance, the Association of British Insurers has told Post in response to national press reports.
The Financial Conduct Authority confirmed it has banned three individuals, including Mark Horsey who was authorised to carry out insurance activities, from working in the financial services industry over non-financial misconduct.
Reputational damage from Covid-19 can be expected across all lines of insurance, but initiatives introduced by motor insurers at the beginning of the year could soften the blow, an Association of British Insurers representative has suggested.
Apollo ruled out further dealings on Adani projects as climate campaigners hit Lloyd’s insurer CEOs with calendar invites and targeted companies on social media.
Minster Law has reported a £1.1m profit for 2019 as it launches a digital claims portal to 75% of its customers.
Climate campaigners from across the globe will join a digital protest calling on Lloyd’s to “act on the climate crisis, not act as the last refuge for climate wreckers like Adani to secure insurance”, with thousands of participants expected.
Lloyd’s diversity survey found that 71% of black employees say they have faced barriers to recruitment and 80% believe they experience barriers to promotion once in the role.
The Department of Justice for Northern Ireland has decided against changing the country's personal injury discount rate until a revised legal framework is in place.
Pet insurance provider Bought by Many will be changing its branding to Many Pets in markets outside of the UK, chief financial officer Luisa Barile told Post.
Around 44% of policyholders could find themselves with a shortfall in business interruption coverage due to a misunderstanding over gross profit.
ERS confirmed CEO Ian Parker will step down after seven years, as the motor-focused insurer revealed it is entering specialist commercial insurance.
Axa UK has appointed Tara Foley as CEO of Retail, replacing Laurent Matras, with effect on 2 November 2020.
It is “essential” the industry is clear about what cyber risks it is comfortable in covering and not covering to protect the industry's reputation, the Geneva Association's cyber director has urged.
The Covid-19 pandemic has pushed mental health to the top of insurer agendas as many employees continue to work from home, HDI Global director of distribution Stephanie Odgen has said.
Brokers called for the government to introduce a zero-rate insurance premium tax for young driver telematics policies in oral evidence at the Transport Committee’s inquiry into road safety and young and novice drivers.
Pool Re has published a forward-looking strategy looking at increasing the take up of catastrophe insurance by SMEs in light of current pandemic, ahead of its five-year review.