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Insurance sector reponds to 2026 Budget

John Healey has delivered his first Budget as Chancellor of the Exchequer today (28 October), bringing in a range of changes for SMEs and UK businesses, but notably failed to act on Insurance Premium Tax rates.

Guidewire pays £1.2bn for Hyperexponential

Guidewire is set to buy Hyperexponential for $1.7bn (£1.27bn), with $400m (£300.05m) more payable if recurring revenue targets are hit, as it looks to ‘define’ the use of artificial intelligence in underwriting.

Pothole claims rise 25%

Motor insurers continue to face pressure from rising vehicle repair costs, after reports found a 25% year-on-year increase in pothole-related claims despite government funding.

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