News
Whiplash claims process not yet 'fit-for-purpose'
Without judicial rules in place, the claims portal is just a “smart-looking tin with nothing in it”, cautions trade body.
Aviva's Colm Holmes warns distracted driving is causing claims inflation
Aviva general insurance CEO Colm Holmes has said that claims inflation is far exceeding expectations, pinning the blame on poor driving.
'Massive opportunity' for more acquisitions, says incoming GRP CEO Bruce
Global Risk Partners will continue with its focus on regional broker acquisitions, buying niche managing general agents and developing its wholesale business, incoming group CEO Mike Bruce told Post as New York-headquartered PE firm Searchlight Capital…
Searchlight to buy majority stake in GRP
Searchlight Capital Partners is buying a majority stake in consolidator Global Risk Partners.
Motor Mouth Podcast 2: Back to the Future! What will the future car mean for motor insurers?
In the second of our series of podcasts with Motor Insurance World speakers David Williams, managing director of underwriting and technical services at Axa, is interviewed by Post’s content director Jonathan Swift, outlining what challenges insurers can…
Aon 'in position of strength' as reaches $11bn of revenue with 6% organic growth in 2019
Aon has posted a 35% leap in profit from $1.13bn (£857m) in 2018 to $1.53bn last year.
Integration headwinds hit UK growth in 2019, says Marsh
Marsh & McLennan Companies has reported revenue of $16.65bn (£12.66bn) and profits of $1.74bn for 2019.
‘Business as usual’ for sector during Brexit implementation period
The Financial Conduct Authority confirmed that during the Brexit implementation period European Union law will continue to apply and firms will continue to benefit from passporting between the UK and European Economic Area.
Don't underwrite electric vehicle risks in isolation of claims: Allianz GCS practice group leader Schultz
In order for insurers to better adapt to the wider adoption of electric vehicles they need to make sure that they not managing these risks in silos, a global player has warned.
Gallagher posts 5.6% group broking and risk management organic growth in 2019
Gallagher delivered revenue and margin growth across all four UK trading units of retail broking, specialty broking, Pen Underwriting and Capsicum Re last year, Simon Matson has stated.
This week: The wait is over
The wait began in 2017, and many of us felt that the agonising limbo might never end. But after two and a half years, the wait is finally over. That’s right: Kesha’s new album is out today.
RFIB CEO Steven Beard departs
Steven Beard is stepping down as CEO of Integro-owned specialist Lloyd’s broker RFIB with immediate effect, the business has confirmed.
Insurtech funding hits record $6.35bn in 2019
Research by Willis Towers Watson has revealed that $1.99bn (£1.52bn) of global investment into insurtechs in the final quarter of 2019 propelled the yearly total to a record $6.35bn, a leap of 52% on the previous year.
Decisions on ADR and children still to be made by MOJ before whiplash portal's April launch
The Motor Insurers’ Bureau is waiting on a number of government decisions in order to meet the slated 6 April launch date for its whiplash portal.
MIB confident whiplash portal will be 'fit for anyone who needs it'
The Motor Insurers’ Bureau is confident in delivering the Official Injury Claim portal “that is fit for anyone who needs it”.
A matter of when, not if, for personal lines parametric insurance: Scor's Jonathan Clark
Parametric insurance is unlikely to replace conventional indemnity products, but there is a strong likelihood that it will become more widely used, even in personal lines, in the future, a conference heard.
Members voice support for Marsh’s network merger plans
Members of Marsh Probroker, Purple Partnership and Bluefin Network have welcomed the plans to combine the three into one single proposition called Marsh Networks.
ABI tracker shows increase in motor premiums as calls for IPT cut amplify
The average cost of motor insurance rose to its highest level in the final quarter of 2019, according to research by the Association of British Insurers.
People buy insurance to transfer risk, not because you are 'technologically cool': Aon claims boss Harrison
Insurers and brokers should not lose sight of the fact that customers buy insurance to transfer risk, and not because a provider has something “technologically cool,” a conference heard.
RSA aims to have 500 apprentices by 2022
RSA has pledged to double the number of apprentices in the business by 2022.
Hiscox to move 300 jobs across UK from London
Hiscox has confirmed it will move 300 roles out of London over the next two to three years.
Fears carmaker pressure over autonomous vehicle scope could cause accidents
Pressure from manufacturers to extend the definition of what counts as an autonomous vehicle could lead to more accidents, Axa’s David Williams has warned.
Ecclesiastical buys minority stake in Lloyd & Whyte
Exclusive: Ecclesiastical Insurance Group has bought 20% of Lloyd & Whyte for an undisclosed sum.
Insurers expected to be able to distribute green cards electronically
The government has told the Motor Insurers' Bureau that it will enact legislation to allow ‘black-and-white green cards’, allowing insurers to distribute green cards electronically if the UK is unable to strike a deal with the EU by the end of the…