News
Industry agrees on maximum daily credit hire fees
New maximum daily hire rates, agreed between insurer and credit hire company subscribers to the general terms of agreement, come into force from 1 July following another successful independent rate review.
CFC’s Poole recalls challenge of Direct Line takeover
Jane Poole, former chief financial officer of Direct Line Group, has reflected on the challenge of leading through months of uncertainty during Aviva’s takeover of the insurer.
Axa XL and Scor stress need for multi-peril climate change insurance
Axa XL and Scor have said multi-peril coverage, in comparison to parametric solutions, can increase investor confidence for successful climate change coverage.
Ageas CEO outlines MGA ambitions
Ageas has set up an arm of the company to enter the MGA market, group CEO Hans De Cuyper has said.
Biba urges regulator to target problem sales channels
Biba CEO Graeme Trudgill has urged the UK regulators to drill on down specific distribution channels which don't live up to fair value requirements.
Post editor wins Headlinemoney Journalist of the Year award
Insurance Post editor Emma Ann Hughes has been named B2B Journalist of the Year at the Headlinemoney Awards, held in London last night (23 June).
FCA’s Reynolds reveals how watchdog wants insurers to use AI
The Financial Conduct Authority has reiterated its support for artificial intelligence adoption in insurance, with interim insurance director Graeme Reynolds urging firms to innovate while ensuring consumer protections remain at the forefront.
Lloyd’s, Hiscox and LMA CEOs address Trump’s confusion
Confusion over insurance terminology may have contributed to Donald Trump’s belief that a lack of cover was preventing ships from operating in the region, according to the sector’s senior leaders.
Aviva’s Blanc demands ‘stability’ from new prime minister
Aviva Group CEO Dame Amanda Blanc said she and the market is “desperate for consistency” as the UK gets ready for a new prime minister.
Intact eyes opportunities amid rail nationalisation
With the rail industry undergoing nationalisation, Intact is looking to be part of the conversation and do more to drive safety and skills for the sector.
LexisNexis warns of ‘reactive’ inefficiencies in motor claims handling
While underwriting and pricing has become more data-driven in recent years, LexisNexis Risk Solutions has warned that motor claims handling is still lagging behind, relying on “fragmented, reactive processes”.
Pet heat-related claims increase 60%
Waggel is urging owners to take extra precautions to keep their pets cool after a significant increase in heat-related illnesses among pets in the last two years.
Carpenters CEO’s journey adds meaning to LGBT award win
Carpenters Group was honoured at the British LGBT Awards, with CEO Donna Richards saying the recognition was important both for the business and for her youngest child, who is transitioning.
Travel insurance prices stable despite Middle East tensions
Travel insurance premiums remained broadly stable following the escalation of tensions in the Middle East, according to analysis by Defaqto.
Jensten CEO outlines MGA growth plan after £300m Zurich deal
Jensten is planning to expand into new specialist product lines and remains open to acquiring MGAs to accelerate growth following the signing of a £300m capacity agreement with Zurich, according to group CEO Robert Organ.
Property-level data reveals hidden flood risk for insurers
Insurers could be “significantly underestimating” their exposure to flood and subsidence risk by relying on regional averages rather than property-level analysis, according to a study by PriceHubble and MIAC Analytics.
Morrisons’ pet insurance; Clear Group’s launch; Gauntlet’s MD
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Willis warns 7 in 10 businesses are underinsured
James Adams, head of valuation services at Willis, has warned businesses are increasingly at risk of being caught out by average clauses because outdated property valuations are failing to reflect rising rebuild costs.
Chubb leads consortium for Hormuz shipping cover
Chubb has launched a Lloyd’s market consortium to provide additional marine war risk insurance capacity for vessels and cargo transiting the Strait of Hormuz.
Aviva confirms Probitas rebrand
Aviva has confirmed it will rebrand Probitas 1492 to Aviva Syndicates.
US-Iran deal reopens Strait but shipping risks remain
Marine insurers have welcomed the reopening of the Strait of Hormuz under the US-Iran peace deal signed today (18 June), but warned significant operational, security and regulatory challenges remain.
ThingCo co-founder re-emerges at Lloyd’s Lab insurtech
ThingCo co-founder Jonathon Valentine left the telematics provider in March and has now been appointed as the new group chief technology officer for the insurtech SAMP Risk.
GDPR ‘no excuse’ for supporting vulnerable customers
The Chartered Insurance Institute has told insurers not to use General Data Protection Regulation “as an excuse” to avoid supporting vulnerable customers.
Ageas motor head unconvinced telematics improves behaviour
Senior motor underwriting bosses disagreed about the amount of impact telematics has on driver behaviour at Insurance Post’s Underwriting Club.