News
Thousands of suspected uninsured drivers issued automated warnings every day
An automated data analysis scheme operated by the Motor Insurers’ Bureau and the Driver and Vehicle Licensing Agency is issuing warnings to up to 3000 uninsured drivers every day.
Arron Banks faces criminal investigation over Brexit financing
The National Crime Agency has opened an investigation into Eldon Insurance boss Arron Banks, following a referral from the Electoral Commission.
Former Admiral CEO invests $25 million in flagging Compare
Admiral has reached an agreement with its founder and ex-CEO, Henry Engelhardt and his wife, Diane Engelhardt that will see them invest $25 million in the group’s US comparison website, Compare.
McLarens secures alternative private equity backing
McLarens' largest private equity backer has sold its stake in the company.
Ardonagh sells commercial MGA to Arch for £31m
The Ardonagh Group will sell its commercial underwriting business to Arch for £31m.
Pricing practice changes would put the onus on insurers to charge a 'fair price'
Large insurers with big books of home insurance business could lose out following pricing practices review, but profitability is unlikely to be "heavily dented", ratings agency says.
Revealed: The future of Ed and Besso under BGC
A holding company will be established for Ed and Besso, with Steve Hearn as group CEO. However the two BGC-owned brokers will remain separate companies.
Thomas Miller partners with hospital ship charity
Thomas Miller has launched its new corporate social responsibility programme, with a three-year partnership with the international medical charity, Mercy Ships.
Charles Taylor's tech arm launches grad scheme
Charles Taylor Insuretech, has launched a three-year graduate programme, that will see graduates work across project management, business analysis, service delivery, architecture, data and analytics, and information security.
Government’s ban on combustible cladding insufficient, warn insurers
The government’s ban on combustible materials limited to high rise buildings over 18m is not sufficient and should be considered for a wider range of buildings, insurers have warned.
Direct Line to automate its two millionth transaction on Friday
Direct Line now automates 70,000 transactions a week and anticipates hitting the two million milestone by the end of the week.
Reich Group buys Stockport broker
Manchester-based Reich Group has bought LJM Insurance Brokers.
Erskine Murray opens rebranded North West office
Erskine Murray has rebranded Offley Insurance Services, establishing the broking firm’s first branded office in the North West.
Axa signs £30m capacity deal with SME MGA
Axa has agreed a £30m three-year capacity deal with SME managing general agent Origin UW.
Insurers may be guilty of price discrimination, finds FCA
Insurers may not have sufficient oversight of pricing practices, which could mean some customers are paying significantly higher premiums than those who have similar risk profiles, according to an official review.
Slice cyber product shows ‘leverage’ gained through insurtech partnerships
The quick turnaround of Slice’s on-demand cyber insurance policy demonstrates the “leverage” partnerships with insurtechs can provide, according an Axa XL collaborator.
BP Marsh boosts its stake in Nexus
BP Marsh's announcement of its purchase of a 1.9% stake in managing general agent Nexus.
Aviva plan for wind turbine at Perth HQ provokes outcry
Aviva is embroiled in a local planning dispute over plans to build a wind turbine, as the company moves to make their Perthshire offices carbon-neutral.
Travel sickness CMC activity 'should be regulated by the FCA'
Claims management companies who deal with travel sickness should be included in upcoming Financial Conduct Authority regulation of the sector, warn experts.
Liberty Mutual slapped with £5.2m fine for claims and complaints handling failings
Liberty Mutual has been fined £5.2m over its botched handling of mobile phone insurance claims and complaints.
Ardonagh looks to debt for Swinton acquisition
The Ardonagh Group is taking on $225m (£176m) of additional debt as it acquires Swinton.
Industry welcomes IPT freeze in the Autumn Budget
The industry has welcomed a freeze on insurance premium tax in the Autumn Budget 2018
Financial services complaints jump above four million
The number of consumer complaints reported by financial services firms has risen 10% since the second half of 2017.
Breitburd appointed Axa UK and Ireland CFO
Axa has appointed Amelie Breitburd as its chief financial officer for the UK and Ireland.