News
Gallagher expands SME & PL ops; SRG launches sports and media division; RSA appoints commercial CUO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Protestors urge insurers and reinsurers to block insurance for Republic of Congo oil extraction
Companies which are granted exploration and exploitation rights in the Democratic Republic of Congo oil auction could find they are without financial protection.
Does travel insurance need a revamp?
News editor view: After recent travel stories made front page news, stranded travellers were left without much hope for financial compensation. Could this have been an opportunity for insurance to step in?
Direct Line woes continue into 2023 with £78m H1 loss
Direct Line Group has reported an operating loss of £78.1m for the first six months of 2023, compared with a profit of £197m for the same period in 2022.
Q&A: Tim Hardcastle, Instanda
Tim Hardcastle, co-founder and CEO of Instanda, speaks to Frances Stebbing one year after the startup’s latest fundraising round about upcoming trends in the software development industry and how the company is applying AI within the business.
Marsh appoints Nick Harris as CEO of UK retail
Marsh has hired Nick Harris as CEO of UK Retail, effective from 1 January 2024, subject to regulatory approval.
Preparation is key as insurers look to avoid repeat of 2022’s storm costs
As the Met Office publishes its annual list of storm names for the upcoming storm season, insurers are looking to avoid a repeat of the financial hit the weather brought in 2022.
S&P predicts cyber reinsurance rates to increase
S&P Global expects cyber reinsurance rates to increase as reinsurers look to return to profitability, but predicts primary underwriters won’t pass the rate increase on to customers.
Details of Dive In Festival 2023 revealed
Registration for Dive In, the insurance industry’s festival promoting diversity, equity and inclusion, is now open via diveinfestival.com.
Three-year time limit for new vehicle MOTs set to stay
The result of the Department for Transport’s consultation on the mandatory time limit for MOTs is likely to result in the rules remaining unchanged, Insurance Post can exclusively reveal.
Aston Lark’s latest acquisition; World Nomads’ travel product partnership; and Lloyd’s unveils Women’s Cricket Team
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Direct Line to refund £30m to overcharged home and motor customers
Direct Line has agreed to a past business review after the FCA found it had breached dual pricing rules, having charged some customers at renewal more than if they were a new customer.
Q&A: Victoria Gallimore, The Clear Group
Victoria Gallimore, group HR director and culture director of The Clear Group, speaks to Frances Stebbing about how to tackle the long-standing legacy issues within the industry and recruitment challenges across the sector.
Briefing: DLG has its CEO, so what next?
Direct Line Group has finally announced who will be taking over the permanent role of CEO. But how big of a task is on Adam Winslow’s hands when he takes over in 2024?
Direct Line Group appoints Aviva’s Winslow as CEO
Direct Line Group has this morning announced that Adam Winslow, formerly CEO of Aviva’s UK and Ireland general insurance business, as its group CEO.
How insurers are tentatively embracing AI
Analysis: Frances Stebbing explores how insurers are using generative AI, while recognising the risks and preparing for the incoming regulation for this type of technology.
Markel launches construction proposition; Pen secures solcitors' PI capacity; Partners& acquires Nex Gen
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Value of average insurance fraud hits record £15,000
The Association of British Insurers has revealed the value of the average fraudulent claim in 2022 rose 20% to £15,000.
Updated – Insurer results directory H1 2023
Insurance Post tracks insurers' half-year 2023 results, including gross written premium and combined operating ratio.
Specialist Risk Group's latest deal; Animal Friends partners with Costco and Gauntlet joins Brokerbility
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
WTW tells insurers to up their data science game
Tim Rourke, UK head of P&C pricing, product, claims and underwriting at Willis Towers Watson, has warned the era of data science as a research and development activity has passed and insurers need to ensure those employed in this area deliver operational…
Hurricane victims’ claims to be sped up with 360-degree imagery
McKenzie Intelligence Services has piloted CAT360 to boost insurers’ responses to US hurricane losses and speed up claims by providing ground-level imagery.
Caravan thefts lead to 34% increase in premiums
An increase in caravan thefts has led to the average insurance premium for a caravan increasing by 34% since 2021, according to Go Compare.
Biggest risk factor for adopting generative AI revealed
Companies are not fully prepared for the widespread use of generative artificial intelligence, or the business risks these tech tools may bring, research from McKinsey & Co has found.