News
£5m leasehold class action launched as legal papers issued
A class action lawsuit led by City lawyer and leaseholder Liam Spender launched today (17 July), with legal papers submitted to four freeholders and an advisory firm owned by Gallagher.
Tesco names insurance CEO after split from bank
Tesco has named Craig Bundell as CEO of Tesco Insurance and Money Services, following its split with Tesco Bank.
Pearson Ham reveals wide price gaps in landlord insurance
Pearson Ham has launched a landlord insurance price tracking service and has uncovered significant disparities in what landlords pay for property insurance.
FCA and ombudsman to overhaul compensation system
The Financial Conduct Authority and the Financial Ombudsman Service have unveiled plans to reform the consumer compensation system.
UK captives plans secure big broker backing
Aon and Marsh have backed plans to institute a UK captives regime, with the former saying it will launch a UK-domiciled captive management company in preparation for the new regulations.
Aviva and Zurich highlight inadequacy of UK climate action
Aviva and Zurich Resilience Solutions, as part of the Green Alliance Adaptation Taskforce, have concluded that 65% of UK actions to address the biggest climate risks are currently inadequate.
Regulators and Treasury move to scale back SM&CR
Regulators and the Treasury have proposed streamlining the Senior Managers and Certification Regime to drive growth in the financial services sector.
Jensten to refinance after failing to secure sale
Insurance Post understands Jensten is due to announce another refinance in the coming weeks, after again failing to secure a sale.
Industry welcomes launch of captives regime
The insurance industry has welcomed the Chancellor’s announcement launching a captives regime in the UK.
D&G CEO shares how AI insight is growing business
Domestic & General is backing artificial intelligence data-driven innovation and US expansion to further grow, according to CEO Matthew Crummack.
Saga and NatWest Boxed announce tie-up to expand range
Saga Money has struck a seven-year deal with NatWest Boxed to use the latter’s embedded finance platform to expand the products offered to the over-50s.
Biba urges chancellor to stop downward spiral
British Insurance Brokers’ Association CEO Graeme Trudgill has written an open letter to chancellor Rachel Reeves asking her to put a stop to the “downward spiral of productivity” ahead of her Mansion House speech tomorrow (15 July).
Resilience’s updated cyber proposition attracts large corporate interest
Cyber insurance provider Resilience has made inroads with 20 to 30 large corporate clients since lifting its appetite cap and launching new tools designed to make the risks facing complex conglomerates more visible.
Zurich rebrands tradespeople offering to include homeworkers
The scope of Zurich’s trades and professions product has been broadened to include home workers, Insurance Post can reveal.
Close pulls back from PL; Howden’s crypto cover; Axa’s CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
ABI reveals £104m Covid fund’s impact
The ABI has announced a partnership with the National Emergencies Trust alongside the publication of a report outlining the impact of funds donated to a range of charities by the industry during the Covid-19 pandemic.
Warning issued over improperly discarded lithium ion batteries
Lee Masson, MD of Halliwell Forensics, has called for focus on how batteries are discarded and entering the waste stream, as these pose a real fire threat.
PIB walks away from Gallagher deal
PIB has pulled away from negotiations surrounding an acquisition, as it announces a debt raise of £400m.
VW opts for Allianz as motor insurance provider
Allianz UK has struck a five-year deal with Volkswagen Financial Services UK to become the underwriter and administrator for its motor insurance offering.
Protestors stage own ceremony outside British Insurance Awards
Climate change activists from Insure Our Survival protested outside this year’s British Insurance Awards, lying down on the event’s red carpet and staging their own awards ceremony on the pavement outside the Royal Albert Hall.
CII acts after racist backlash to advertising campaign
The Chartered Insurance Institute has taken action against a wave of racist and inflammatory comments posted in response to one of its marketing campaigns.