Commercial
Partners&’s Phil Barton calls for a new commitment to giving quality advice
In the aftermath of the Supreme Court’s business interruption ruling, brokers must now ditch the transactional practices of the past for an advice-led approach to rebuild the marketplace’s reputation, argues Phil Barton, CEO of Partners&.
Brokers defend record amid insurance probe into 'failing' market for flats and tower blocks
Amid regulatory scrutiny brokers have accepted there are insurance challenges for flats but sought to defend their role when approached by Post.
Intelligence: Is it boom time for special purpose acquisition companies in the UK?
Although the mania for special purpose acquisition companies of early 2021 has subsided, investor enthusiasm persists and is in the process of going global. The losses directors’ and officers’ insurers can expect to flow from these types of companies…
Lower claims impact expected from Malik and Corrie than predecessors
The insurance impact of storms Malik and Corrie is expected to be less severe than recent storms Arwen and Barra.
Zego adds Catherine Barton as chief insurance officer
Insurtech Zego has appointed ex-Bupa executive Catherine Barton as its first chief insurance officer.
Editor's comment: Celebration or commiseration
We are a family that is big on marking the passing of time – birthday, anniversaries and well just any excuse to get together really – good job too with no less than six family birthdays in January alone.
Analysis: Weighing up the FCA’s consumer duty rules
Compliance experts address what the FCA’s new consumer duty proposals will mean for the insurance sector, whether the industry is ahead of the curve and if the changes will be value for money
Convex publicly rules out insuring Adani and further thermal coal production
Convex has ruled out insuring Adani’s Carmichael coal mine and any new thermal coal production following pressure from climate change campaigners.
Gallagher enters motorcycle and motorhome space with first acquisition of the year
Gallagher has acquired Devitt Insurance Services marking the group’s entry into the motorcycle and motorhome space.
Allianz hits 100% renewable electricity in UK offices target
Allianz Holdings, which comprises Allianz Commercial and Allianz Personal, has revealed that 100% of the electricity its UK offices use now comes from renewable sources.
Chubb promotes Jon Houghton to head of distribution for UK and Ireland
Chubb has made Jon Houghton head of distribution for the UK and Ireland expanding his previous role as distribution manager for national brokers in the region.
Zurich’s David Nichols explains why customer communication is key to tackling the global supply chain challenge
The global supply chain challenge has far-reaching implications for every financial sector. David Nichols, UK chief claims officer at Zurich Insurance, details the importance of keeping customers and suppliers both informed and engaged.
Analysis: Illegal e-scooters hit insurer claims reserves to tune of 'hundreds of thousands'
Insurers are already reserving ‘hundreds of thousands’ of pounds for collisions involving third-party private e-scooters – but the vehicles aren’t legal on public roads yet.
CII consultation usefulness in doubt over believed low response rate
Insurance specialists have queried how the Chartered Insurance Institute will be able to lean on the findings of its recently closed Shaping the Future consultation due to the reported 1% response rate.
Blog: Managing the multiple facets of cyber risk
Scott Bailey, divisional managing director of cyber at Markel International, looks at the challenges and past trends in the cyber market, and where they could lead to future decisions for those operating in this space.
Spotlight: Data transformation – The fuel that drives digital transformation success
Data should not be seen as an afterthought when a business is undergoing digital transformation. Instead, as Eleanore Robinson finds out, it is very much the key to any project delivering true value to customers
FCA issues fair value warning amid government's flats insurance review order
The Financial Conduct Authority has written Dear CEO letters to insurers and brokers, putting pricing models, product fair value and commission in the spotlight after the government ordered a review into the "failing" insurance market for leaseholders.
Three BI cases collectively seeking up to £960m to be heard back-to-back by court
The Commercial Court is set to hear three cases relating to Covid-19 business interruption claims made under the Marsh Resilience wording back-to-back over five weeks in June and July.
EY: investor confidence in UK FS hits new high; James Hallam backs broker start-up; Lloyd's approves insurtech Syndicate and Pen inks £300m QBE deal
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Michael Gove orders review into ‘failing’ insurance market for leaseholders
The government has called on the Financial Conduct Authority to start a probe into the “crippling costs” of insurance premiums for residents of blocks of flats as it hit out at the current unacceptable situation.
Outlook deteriorating for UK non-life company market: Fitch
The market combined ratios for motor and home insurance will be north of 100% in 2022, Fitch has forecast.
Insurance in the vanguard on consumer duty, says FCA’s Matt Brewis
The Financial Conduct Authority sees insurance as ahead of the game on consumer duty after the work on pricing and value in recent years, the regulator’s director of insurance and conduct specialists Matt Brewis has indicated.
Self-driving car users should be off the hook for range of offences, commissions set out
The Law Commission for England and Wales and the Scottish Law Commission have proposed the creation of an Automated Vehicles Act that would shift the responsibility away from drivers of self-driving cars.
Your last chance to take part in the Insurance Census 2022
The Insurance Census is back and we want to hear from you. With your help, we can make this the biggest and most comprehensive census the industry has ever seen.