News
Lloyd's to impose business class rota on September reopening
Lloyd’s will limit access to its underwriting room when it reopens on 1 September giving underwriters and brokers in different classes of business set days for face-to-face meetings at One Lime Street.
PE firms circle AA for takeover talks
Motoring group The AA has confirmed holding takeover talks with three private equity parties as it discusses “a wide range of potential refinancing options”.
Covea agrees €1.5bn investment with Exor after Partner Re deal collapse
Covéa will invest €1.5bn (£1.35m) with Exor and special purpose reinsurance vehicles managed by Partner Re, after its bid to buy the reinsurer fell apart earlier this year.
FCA warns of action on BI claims deductions
The Financial Conduct Authority has warned insurers making deductions to non-damage business interruption claim payments based on government payouts that it will intervene if firms do not meet its expectations and treat customers fairly.
RSA to exit wedding insurance in early 2021
RSA will cease to underwrite wedding insurance when its John Lewis contract ends at the beginning of next year, Post has learned.
Further cost-cutting expected at RSA UK
RSA will look to cut further costs in its UK arm, RSA CEO Stephen Hester confirmed as the insurer released it first half results for 2020.
No evidence of reputation hit to business, says Hiscox global retail CEO
Hiscox has not seen a slowdown in business as a result of its high-profile involvement in disputes over coronavirus business interruption claims, the insurer’s global retail CEO Ben Walter told Post.
FCA vulnerability guidance ‘far from enough’ warns former retail GI boss
The Financial Conduct Authority's guidance to help firms understand and assist vulnerable customers may be a start "but is far from enough”, the watchdog's former retail general insurance boss has cautioned.
Hiscox bulks up Covid claims hit estimate as group faces loss
Hiscox swung into a loss for the first half of 2020 as it increased its Covid-19 claims hit estimate.
Alex Williams promoted to MD at i-Wonder
Alex Williams has been appointed at the first managing director of technology firm i-Wonder.
Guidewire faces class action lawsuit in US
Gainey McKenna & Egleston has filed a class action lawsuit against Guidewire saying it is seeking to recover damages for investors under the federal securities laws.
Registration for virtual diversity event Dive In opens
Registration for diversity and inclusion festival Dive In has opened with over 90 virtual events taking place in over 30 countries from the 22 to 24 September.
NFU Mutual rejects accusation it misbehaved by deducting government grants from payouts
NFU Mutual has defended itself against claims by self-catering accommodation businesses that it is unfairly deducting the value of government grants from coronavirus-related payouts.
Thatcham publishes requirements for repair of ADAS vehicles
Thatcham releases insurance industry requirements for the safe repair of ADAS-equipped vehicles.
Insurance Covid-cast: Grumpy old insurance execs - Bunker, Cooter, Hanks and Smith on trading through a hard market
For the 36th episode of Post and Insurance Age’s Covid-Cast video series we gathered together an esteemed panel of ‘grumpy old insurance execs’ to talk about how to trade through a hard market, something many might have not experienced before.
BI court case judges aiming for draft judgment in mid-September
Lord Justice Flaux has confirmed the middle of September as the target date for a draft judgment in the business interruption court case brought by the Financial Conduct Authority against UK insurers.
Connected claims is the driver to take telematics closer to the mainstream, says Trak Global CEO Corrie
The next generation of telematics will involve low cost hardware coupled with smart phones and be based around the connected claims journey.
Aon/Willis combination not ‘good for clients or good for the market’: MMC CEO Dan Glaser
In a half year results call, Marsh and McLennan CEO Dan Glaser aired a “personal” view that the Aon and Willis Towers Watson merger will be negative for clients and the market .
Future Focus 2030: The future of property podcast - how IoT sensors, automation and granular data will shape the next decade
It is the year 2030. The explosion of internet of things devices has really taken hold impacting both the personal and commercial property markets.
‘Much work to do’ says Neal as Lloyd’s sets female representation target
Lloyd’s today confirmed a re-run of its culture survey, set a gender target for the market and said it would look to set an ethnicity target in 2021.
Lloyd’s launches ethnic diversity workplace survey
Lloyd’s of London has sent out a survey collecting data on ethnic diversity in the market to be used in a forthcoming report, Post can reveal.
High Court approval of Lloyd's EEA transfer not a foregone conclusion
High Court approval of Lloyd’s proposed transfer of European policies to its Brussels subsidiary is not assured, according to an expert with experience of portfolio transfers.
Close Brothers reshuffle sees Sharon Bishop step down as premium finance CEO
Sharon Bishop has stepped down as Close Brothers premium finance CEO, as the company announced changes to its leadership team.
Claims Apprentice 2020: Episode three - Podcast challenge part two
With topics decided, guests lined up and vox pops taped it is time for Team Empower and Team KDA to enter the studio to record their podcasts.