News
East West administrators reveal 194 open claims and £165m shortfall
East West Insurance had 194 open insurance claims as of 12 October, administrator EY has confirmed.
Insurers face £1.4m shortfall from Inspire failure
Insurance providers are set to be left with a £1.4m hole from the collapse of Coventry-based Inspire Insurance Services, with the broker's total deficit estimated at £2.7m by liquidators.
Be Wiser makes board changes
Be Wiser has reshaped its board again with a new chair and hiring former Endsleigh CEO Jeff Brinley as chief financial officer, Joe Copp as group chief operating officer and David Russell as chief risk and compliance officer.
Tasker targeting up to five more deals in 2021 after Numark buy
Tasker Insurance Brokers is looking to expands its regional footprint with a series of hub purchases next year, group CEO Rob Organ told Post.
Adam Winslow to return to Aviva as CEO of international
Adam Winslow, AIG CEO for global life insurance, is returning to Aviva in January to become CEO of international.
Apollo suspends head of marine and energy liability over reported assault conviction
Apollo head of marine and energy liability, Howard James Burnell, has been suspended following a reported conviction for assault, Post has learned.
Lucy Woods appointed CHO chair and Peter Gomes interim CEO
Lucy Woods, CEO of Ax Group – formerly known as Accident Exchange – has been appointed chair of the board of the Credit Hire Association, following the departure of Kirsty McKno who stepped down in November.
Co-op confirms insurance sale to Markerstudy has gone through
The Co-op has confirmed the completion of the sale of its underwriting business to Markerstudy after Post revealed the deal had received regulatory approval.
Robus buy adds alternative capital 'string to the bow' of Geo
Ardonagh-owned Geo has bought Guernsey-headquartered insurance management, fiduciary and financial advisory group Robus for an undisclosed sum.
Debenhams policies unscathed by chain's collapse, says Somerset Bridge
Insurance policies sold by Somerset Bridge through an affinity deal with Debenhams will be left by unscathed by the high street retailer’s collapse, the broker’s CEO Liz Bilney has told Post.
Markerstudy gets PRA approval for Co-op deal
Markerstudy’s long-running takeover of Co-op’s insurance underwriting business could be completed by Christmas after the Prudential Regulation Authority signed off on the deal, Post can reveal.
Supreme Court clarifies arbitration bias in Deepwater Horizon Chubb ruling
The Supreme Court has dismissed an appeal in the case of Halliburton v Chubb Bermuda Insurance, ruling in favour of the insurer on an arbitration issue in a Deepwater Horizon case.
Axa blames Lockton errors in defence to property developer's fire claim
Axa has blamed Lockton for issuing an incorrect certificate as the insurer estimated its liability for the damage portion of a property claim at £541,000 rather than the £1.7m being sought by property investor Aubrey Weis in a High Court action.
FCA's product governance proposals could have longer term impact than price walking ban
Proposed changes to the Financial Conduct Authority’s product governance rules could prove to have a greater long-term impact than the regulator’s prospective price walking ban, consumer research and compliance experts have said.
Kingfisher alleges deceit and software breaches in £25m claim against ex-Fresh owners
Kingfisher UK Holdings has accused the former owners of personal lines specialist broker Fresh Insurance of covering up that its software used the Motor Insurance Bureau’s My Licence system in a way that breached its agreement with the MIB and the Data…
Cold call claims fraudsters come up with fresh scam, insurers warned
Exclusive: Cold calling fraudsters have contrived another method of targeting policyholders to make fake claims in what insurer LV told Post it believes is a twist on previous scams.
Take part in Post's Adas survey 2020
Post, in association with National Windscreens, invites industry professionals to take part in our latest Adas survey.
Bobby Gracey joins Charles Taylor as global head of fraud
Charles Taylor has appointed Bobby Gracey, the chairman of the Chartered Institute of Loss Adjusters’ anti-fraud committee, as global head of fraud.
Union GMB calls for government intervention in AA deal
Trade union GMB called on the government to protect the AA from being “asset stripped” as the motoring group accepted a take-over offer from private equity firms.
Lloyd's Brexit transfer of EEA business approved by High Court
Lloyd’s has received final approval from the High Court to transfer policies covering risks and policyholders in the European Economic Area to its Belgian subsidiary, Lloyd’s Europe.
FCA urges Lloyd's and London market insurers to behave 'ethically' in face of Covid-19
The Financial Conduct Authority has written to Lloyd’s and London Market insurers instructing them to “behave ethically and responsibly in the way they treat their customers, their employees and their counterparties” during the pandemic.
Esure adds former Sky betting and gaming CTO to top team
Esure Group has recruited Andy Burton as chief technology officer and appointed Justin Cockerill as chief commercial officer.
Arag appoints Simon Barrett CFO as UK co-founder retires
Arag has appointed Simon Barrett as chief financial officer in preparation for the retirement of longstanding CFO Bob Moreton next year.
Go Compare parent share price jumps 18% as group agrees Future sale terms
Shares at Goco, parent company of Go Compare, were almost 18% up this morning as the company agreed terms of an acquisition offer from British publisher Future, in a deal valuing the group at £594m.