Commercial
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.
Trade Voice: Bila's Caroline Bell on why 2022 is the time for a renewed focus on wordings
Dr Caroline Bell, British Insurance Law Association committee member, and senior wordings counsel at Convex Insurance, reflects on the innovatory and future-proofing potential of policy wordings after a year that underscored that the words on the page –…
Laka CEO Taupitz wants insurtech to become 'global green mobility leader' after $12m Series A raise
Insurtech Laka has closed a Series A fund raise of $12m (£8.9m) led by US mobility investor Autotech Ventures as it seeks to become “the global green mobility leader” diversifying into areas such as e-bikes, e-cargo bikes and potentially electric cars.
Judge to hand down Corbin & King v Axa BI decision 'as quickly as possible' as trial ends
The trial in the case of Corbin & King v Axa, the outcome of which is eagerly anticipated by insurers and would-be business interruption claimants alike, came to a close on Wednesday.
General Insurance Fraud Committee hopeful on spam advert legislation
The General Insurance Fraud Committee is hopeful that online advertising will be included in the Online Safety Bill, Clare Lunn, director of financial crime at LV GI and chair of the GIFC told Post.
FCA lacks ‘precision’ and regulators need greater accountability, inquiry hears
London Market trade body representatives have told a Lords’ inquiry that the regulator’s ‘one size fits all’ approach to insurance must change and more accountability is needed.
Brokers fear market may later realise it has 'sleepwalked into irrelevance' as Lloyd's mulls HQ move
London Market participants have voiced concerns over the future of Lloyd’s of London as it considers whether to remain in its City of London headquarters.
Axa and Corbin & King trade arguments on first day of BI cover trial
The trial between upmarket restaurant group Corbin & King and Axa began on Tuesday, with Mrs Justice Cockerill hearing submissions from both sides.
Watch Ageas, By Miles, Zego and Zurich discuss the benefits of UBI in upcoming Insurance Post webinar
Insurance Post, in association with By Bits, is hosting a live, interactive webinar on the 9 February at 11:00am called: Transitioning to usage-based insurance - what are the benefits to being in the fast lane of UBI adoption?
WTW's Frederick Gentile on taking a realistic approach on supply chain resilience
Frederick Gentile, director of risk engagement at Willis Towers Watson, shares his checklist for supply chain resilience, and says leaders need to take a more realistic approach to survive.
WTW adds ex-Lloyd’s digital leader Lou Smith
WTW has appointed Lou Smith as commercial lines data strategy lead in its insurance consulting and technology unit.
Analysis: Covid BI disputes rage on a year after Supreme Court judgment
The final bill for coronavirus-related business interruption claims could yet run much higher than the £1.3bn paid out so far depending on how issues left unanswered are resolved in the months – and possibly years – ahead.