News
Home insurance premiums climb by nearly a third
Home insurance premiums increased by 31% between January and March 2024, according to the latest research from Compare the Market.
ABI unveils financial inclusion strategy
The Association of British Insurers has unveiled a financial inclusion strategy, which commits to addressing “unfavourable” premium finance practices and suggests exploring ways to subsidise motor cover for some drivers.
ABI sets out principles to address motor premium finance
Members of the Association of British Insurers have agreed to follow five principles to manage the amount customers pay when they pay their premiums monthly rather than annually.
Canary Riverside appeal leads to reduction in freeholder payout
An Upper Tribunal has reduced the sum repayable to leaseholders of the Canary Riverside complex in east London, ruling that just 65% of the total should not have been paid.
Former GCHQ director joins Cyber Monitoring Centre
The Cyber Monitoring Centre has appointed former GCHQ director general for technology, Gaven Smith, to its technical committee.
Zurich and Freedom Services partnership targeting £50m GWP in year one
Zurich UK has penned a five-year deal with managing general agent Freedom Services under which the insurer will provide capacity for an existing commercial vehicle book as well as a fresh telematics play.
Copart confirms delays to Luton Airport salvage operation
Speaking to Insurance Post, Copart UK chief executive Jane Pocock has confirmed that the Luton Airport salvage operation should be completed in “four weeks.”
Three takeaways from Zywave’s Cyber Risk conference
Price adequacy may be under pressure in the cyber insurance market and there are “seismic shifts in buying behaviour” in the reinsurance market, according to experts gathered at Zywave’s Cyber Risk conference.
Allianz increases fraud prevention as it partners with Clearspeed
After a 29% increase in fraud prevention in 2023, Allianz’s personal lines business has partnered with voice analytics tool Clearspeed to enhance its fraud detection capabilities moving forward.
Esure offers customers six-months free cover for latest tech glitch
Esure has confirmed that it has offered six months free home insurance to “a small number of customers” for a “technical error”, which means customers who renewed on 1 April can’t make claims or update their details via the provider’s website.
Cyber insurance procurement process labelled ‘a disaster’
Onda chief underwriting officer Alex Jomaa has dubbed the procurement process for cyber insurance “a disaster”, and said that both brokers and underwriters need to change their ways to boost the number of businesses that buy the product.
FCA to work with Big Tech on sharing data with insurers
The Financial Conduct Authority intends to examine how Big Tech firms’ datasets could unlock better insurance products, more competitive prices, and wider choice for customers.
Perils warns of continued storms as it gives third Babet damage estimate
Perils has disclosed its third industry loss estimate for the floods and storms caused by storm systems Babet and Aline that hit the British Isles and north western Europe in October 2023.
Construction adjuster builds out with London team
Specialist Lines, a niche construction and engineering loss adjusting firm headquartered in Bury, has launched a new London Market and International division with the recruitment of a team from Global Risk Solutions International.
Jensten’s focus ‘remains the same’ following funding boost
After securing an additional £170m in funding dedicated to growth, Jensten chief financial officer Ed Hannan tells Insurance Post that it will continue to build a "compelling proposition" for vendors and potential investors.
Sabre appoints Rebecca Shelley as permanent chair
Sabre Insurance has appointed Rebecca Shelley as chair of the company with immediate effect, following an external search.
Biba’s EV scheme; Cytora and DynaRisk partner; WTW’s global head of claims
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Invoice insurtech Nimbla enters voluntary liquidation
Invoice insurtech startup Nimbla has appointed two voluntary liquidators from Leonard Curtis.
Cila president insists loss adjusters are far from dead
Far from being on a pathway to extinction, Chartered Institute of Loss Adjusters’ president Steven Wallace has claimed his part of the insurance industry has “never been more relevant”.
RSA still unsure on combined NIG business brand
RSA CEO Ken Norgrove has said the future brand of the combined RSA and NIG business is an open question, in an update to brokers.
Motor premiums fall for first time in over two years
Car insurance premiums have fallen by 5% during the past three months, according to the latest data from Confused.com.
Aviva’s Storah has ‘big ambitions’ for HNW
Jason Storah, Aviva’s UK & Ireland general insurance CEO, has revealed his “big ambitions” for the high-net-worth business, and teased a potential entry into pet insurance, as the insurer is “always looking” at expansion opportunities in personal lines.
Helen Bryant departs Allianz after 23 years
Allianz Commercial’s managing director of digital and legal protection, Helen Bryant, is to leave the insurer after 23 years to “pursue new opportunities”.
Which urges FCA to take action on premium finance following investigation
Which? has urged the FCA to devise an action plan on premium finance after an investigation found home and motor insurance customers have been subject to up to 40% APRs.