Commercial
Thomas Cook collapse drives bad debt claims to record levels
Trade credit insurers received a record £271m in claims during the third quarter of 2019, driven by the demise of Thomas Cook, according to the Association of British Insurers
Insurers need to address ‘significant risks of harm’, says FCA
Several “significant” key risks of harm have been highlighted by the Financial Conduct Authority in an update to insurer boards.
Ransomware attack victim Travelex has cyber insurance
Foreign exchange provider Travelex, which has been offline since New Year’s Eve after a cyber attack, has cyber insurance in place.
Integro rebranded as Tysers and RFIB deal completes
Integro has completed the rebrand of its trading names as Tysers, having bought the broker in June 2018.
Blog: Insurtechs won’t eat your lunch, but they will pull up a seat at the table
Increased collaboration means insurers no longer need to worry about insurtechs taking their market share but Laura Drabik, chief evangelist at Guidewire Software, explains this integration must be done correctly or the market will face unhappy customers…
Martin Kelsh joins HW Wood
Martin Kelsh, the former production and distribution director of Neon, has joined Lloyd’s broker HW Wood as head of the international non-marine team.
Neon goes into run-off
Neon Underwriting has been put into run-off by owner American Financial Group.
Zurich's David Nichols on building flood resilient communities
As flood events become more common, the industry and government need to do more to explain flood terminology and the flood resilience grant scheme needs a complete overhaul, according to David Nichols, chief claims officer at Zurich.
Bollington buys Ashgrove
Bollington Insurance has bought North-West based broker Ashgrove Insurance Services for an undisclosed sum.
Pool Re broadens SME business interruption coverage
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.
Australian insurers face bushfire season losses of £228m
Insurance losses resulting from months of deadly bushfires in Australia are estimated to be A$431m (£228m), according to the Insurance Council of Australia.
Government bolsters fund for flood-hit farmers by £2m
The government has added £2m to a fund to help farmers who suffered "uninsurable" damage during last year’s floods.
This month: FCA fines, climate change and shaping company culture
This month marks the start of a new decade. And while a new year might bring optimism for the insurance sector it can also bring with it a host of challenges.
Enough capital in 'asymmetrical' reinsurance market: Guy Carpenter
There was adequate capacity to meet rising demand in the reinsurance sector during the 1 January 2020 renewal period, according to Guy Carpenter, however the results for buyers were mixed depending on a range of factors.
Optio buys Newbridge Risk Partners
Managing general agent Optio has bought specialist political-violence and terrorism MGA Newbridge Risk Partners for an undisclosed sum.
180 years of Post: The magazine that shook up insurance
Post Magazine first appeared on Saturday 25 July 1840, just seven months after the introduction of the Penny Post and was the first publication anywhere in the world to be sent by post – hence its name. It, therefore, ranks among one of the most…
IUA establishes a market group on climate change as part of its business plan
The International Underwriting Association is establishing a new market group to examine the growing impact of climate change policies on a range of insurance activities, including investment, underwriting and risk management, as part of its business…
Mike Crane takes new role as Allianz completes purchase of LV GI and L&G
Allianz has completed the purchase of LV general insurance group and the general insurance division of Legal & General, with Mike Crane to head up L&G GI.
Editor's comment: 2020 - A year of celebration
The year 2020 has been a long time coming for some in our family. In 1995 my lovely, tiny and very northern grandmother turned 95 and since then all 12 of her great-grandchildren have been counting down to the day she turns 100 and gets her card from The…
Interview: Claudio Gienal, CEO, Axa
Fifteen months ago Claudio Gienal stepped up to the role of CEO of Axa UK and Ireland, but he’s taken his time to reveal his strategy for the firm. He spoke to Stephanie Denton about why clarity, diversity and adding value really matter to him
Analysis: Revisiting 'Flood Re Plus' for businesses
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
Diversity and Inclusion in Insurance Award winner: Covea
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we talk to Lisa Meigh, the director of HR & learning about Covea's win in the Staff Empowerment category.
Innovu Group buys equestrian specialist Wexford Insurances in Ireland
Sheridan Insurances owner Innovu Group has bought Wexford Insurance Group in Ireland for an undisclosed sum.
Diversity and Inclusion in Insurance Award winner: Zurich's Maxine Goddard
Following last month's Diversity and Inclusion in Insurance Awards we caught up with all the winners. Today we feature the Race Equality Award winner, the head of sales operations and planning at Zurich Insurance, Maxine Goddard.