Claims
Decreasing claims from older collapses outweigh costs of recent failures to the FSCS
The cost of compensating customers of failed general insurance companies through the Financial Services Compensation Scheme fell 14% to £146.4m in the year to 31 March 2020.
Blog: Covid-19 - time to re-evaluate
The coronavirus pandemic has hit people hard in a manner that the insurance industry can’t compute. Bundeep Singh Rangar, CEO of Premfina, looks at what lessons insurers can learn from the crisis.
Blog: Preparing for the next asbestos - silicosis and insurance
With the All Party Parliamentary Group for Respiratory Health’s call to arms for the reform of workplace exposure limits to silica dust, Jim Byard, insurance partner at Weightmans, explores the likely impact on the insurance industry, and how it can…
Drop all fossil fuels urges climate change campaign group
Insurers must stop 'protecting' the coal industry and start protecting society claimed a climate change group as it urged the sector to drop all fossil fuels.
Gable liquidator warns of ‘everlasting’ bankruptcy proceedings as it writes off £72m
The liquidator of unrated insurer Gable has found ‘trapped funds’ in the company originally valued at CHF 85m (£71.8m) are not recoverable.
Flood Re paid out more last year than its first three years combined
The Flood Re scheme incurred gross claims of £160m in 2019/20, more than the total paid in its first three years of existence.
Insurance Covid-Cast: Future of Insurance Work - What do millennials want from their employers; and has it shifted due to Covid-19?
For the 32nd episode of Post and Insurance Age’s video series we gathered together a panel to discuss how millennials have experienced lockdown and what temporary practices they would like to see made permanent.
Chubb reveals near $1.4bn Covid-19 Q2 loss estimate
Chubb has estimated that it will face $1.37bn (£1.1bn) of pre-tax losses - $1.16bn after tax - in its second quarter results due to the global coronavirus pandemic.
FSCS confirms Fiona Kidy as CFO
The Financial Services Compensation Scheme has appointed Fiona Kidy as chief financial officer having held the role on an interim basis since May last year.
Aviva's Patrick Tiernan on getting Britain back to business
The tragic toll of Covid-19 is incalculable. In less than five months, this pandemic has taken away so many loved ones – devastating families, friends and colleagues on a scale that could not have been imagined. Patrick Tiernan, managing director UK…
Perils pegs Australian bushfire losses at A$1.86bn
Perils has pegged insurance and reinsurance industry losses for Australian bushfires at A$1.86bn (£1.03bn)
RSA walks back on Marsh criticism in FCA's BI test case
As RSA changed its mind on part of its argument that drew criticism from Marsh, the Financial Conduct Authority said insurers were failing to take account of “the true nature of the insurance provided” in its business interruption test case, according to…
Briefing: Travel insurance – when is cancellation insurance not cancellation insurance?
A once-in-a-lifetime trip to Disneyland to treat the kids, an all-expenses paid honeymoon to Cancun and a retirement cruise around Europe – for many people the plans for these long-anticipated trips now lay in tatters but insurance isn’t offering the…
Blog: Electric vehicles - the risks associated with lithium batteries
With their ultra-low emissions, electric vehicles are a key part of the UK’s greener future. However, after reports of cars spontaneously catching fire, Andy Miller, technical risk control manager, Allianz UK, explains safety concerns could put the…
Turnover up but profits slip at Arag
Arag has posted a 14.7% rise in turnover to £14.1m for the year to 31 December 2019.
Spotlight: Lloyd's and the London market: Covid-19 – jump-starting a tech revolution in the London market
Covid-19 has forced the insurance sector to take a long hard look at how it uses technology. Handing over back office functions is allowing firms to tackle what they do best – pricing and underwriting
Spotlight: Lloyd's and the London market: Adapting to the needs of the modern insurance customer
With the launch of Blueprint One last September, Lloyd’s has demonstrated its commitment to an ambitious programme of modernisation for the London Market. But, as research conducted by Post with WNS found, opinion is split on the success of the proposed…
Brokers call for 'low-level' compulsory cover as e-scooter trials begin
With the UK government ready to introduce e-scooters on the roads from this weekend as part of trials, the British Insurance Brokers’ Association has called for the development of a “low-level minimal insurance requirement."
Briefing: Gefion hopes to go out with a whimper as brokers predict a bang
News that Danish unrated insurer Gefion had entered run-off and solvent liquidation left us and others in the industry feeling somewhat underwhelmed.
Motor insurers saved £1.3bn during UK-wide lockdown, claims aggregator
UK motor insurers made lockdown savings of £1.28bn as drivers stayed home between 23 March and 31 May 2020, research by price comparison website Hello-Safe has suggested.
My life in quarantine: Questgates' Nikki Sutton on adapting to a Covid-safe workplace
Face-to-face meetings are a vital part of the loss adjusting service and larger claims can’t be managed without visiting sites so for Nikki Sutton, associate director – head of private clients at Questgates, while others have been in lockdown she has…
Byrom Clark Roberts to rebrand as Smithers Purslow
As part of the acquisition by Smithers Purslow, Byrom Clark Roberts will rebrand to its owner’s name, using a fresh logo.
Mike Keating appointed MGAA managing director
Former Axa and UK General leader Mike Keating has been appointed managing director of the Managing General Agents’ Association, taking up the role on 8 September 2020.
Insurers accused of ‘dragging feet’ as extra FCA BI September trial dates mooted
Insurers have been accused of "dragging feet" in the Financial Conduct Authority's business interruption test case, as they sought additional hearing time in September to debate on the regulator's use of an analysis by the University of Cambridge to…