News
CII denies need for cash caused PFS board takeover
Alan Vallance, CEO of the Chartered Insurance Institute, has insisted the group’s board flooded the Personal Finance Society's board with members due to governance concerns rather than any need to access the latter’s cash.
Review of the Year 2022: Brokers
Senior insurance broker figures look back on 2022 and reflect on what 2023 might bring.
CII floods PFS board after talks fail
The Chartered Insurance Institute's board has flooded the board of the Personal Finance Society after mediation talks between the two broke down.
Metallica loses lawsuit against Lloyd’s underwriters
The Superior Court of the State of California has ruled Lloyd’s of London underwriters do not need to pay for losses stemming from Metallica's six South American concerts that were cancelled when Covid-19 struck.
Government unveils plans for stronger protection against terrorism attacks
Insurers have called new legislation, which will be introduced to tighten security at venues in the wake of the Manchester Arena bombing, an “important step in enhancing the protection of the UK’s publicly accessible locations."
Review of the Year 2022: Insurtechs (part two)
Senior insurtech figures from the market reflect on 2022 and reflect on what 2023 might bring.
Aviva aims at continued 'double-digit' regional broker growth
Ryan Birbeck, distribution director of regional brokers at Aviva, said the firm is aiming to continue its trajectory after three years of "double digit" growth, and has pinpointed cyber as a "significant" opportunity.
Review of the Year 2022: Insurtechs (part one)
Senior insurtech figures from the market reflect on 2022 and reflect on what 2023 might bring.
Government promises clarity on genetic testing and insurance
The Department of Health & Social Care has published the outcome of the latest review of the Code on Genetic Testing and Insurance and promised clarity on how genetic testing is able to be used to price premiums in 2023.
Aviva returns to telematics for motorists
Exclusive: Aviva has returned to offering telematics for younger motorists after previously pulling back from the technology due to a lack of market demand.
Insurance's tax contribution; QBE launches W&I product; Theme for Biba 2023 revealed
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Climate activists deliver festive gifts to Lloyd’s headquarters
As part of action which saw insurers receive ‘good’ and ‘naughty’ gifts reflecting their response to climate change, climate group Mothers Rise Up has today delivered a Christmas stocking full of fake coal outside Lloyd’s of London HQ.
FCA says it will ensure ‘the polluter pays’ in FSCS review update
The main theme of feedback to a recent review of the Financial Services Compensation Scheme was the importance of firms improving their conduct to reduce the frequency at which the scheme is called into action, the Financial Conduct Authority has said.
FOI reveals backlog of FCA whistleblower cases dating back to 2016
A Freedom of Information request to the Financial Conduct Authority has revealed that there are still 1578 whistleblowing cases that remain underassessment, with one still open from 2016.
Review of the Year 2022: MGAs
Senior figures from insurance MGAs look back on 2022 and reflect on what 2023 might bring.
Family of fraudsters ordered to pay Admiral £150K
The courts have ordered a family to pay insurer Admiral’s legal costs, estimated at more than £150,000, after they dishonestly claimed their son had significant injuries following a road traffic accident in 2012.
Review of the Year 2022: Claims and Legal (part two)
Senior claims figures look back on 2022 and reflect on what 2023 might bring.
QBE’s Harris predicts late renewals and material capacity reductions at 1/1
Insurers will need to be agile in the face of late discussions over January reinsurance renewals, QBE international CEO Jason Harris has said.
SSP no longer listed on ransom group's site
Software house SSP is no longer listed as under ransom by the Lockbit group after its ransom was reduced down from $7m to $2m.
Bodyshops increase the use of recycled parts to avoid delays
More than half of repairers surveyed by APB club have disclosed they use more non-original equipment parts than last year as repairs are facing increasing delays, but there is still pushback from some bodyshops.
Review of the Year 2022: Claims and Legal (part one)
Senior claims figures look back on 2022 and reflect on what 2023 might bring.
Insurers slammed for insuring 'climate chaos' with UK coal mine
Lloyd's is remaining tight-lipped about who will insure the first UK coal mine approved in decades as campaigners accuse insurers contemplating offering cover for the project of causing "climate chaos."
Lloyd's syndicates may need to revise plans as they grapple with unprecedented circumstances, says Tiernan
Many Lloyd’s syndicates may need to resubmit their business plans for 2023 in the New Year as they grapple with a set of market circumstances that are “without recent precedent”, Lloyd’s chief of markets Patrick Tiernan has said.
Cardiff City FC suing broker for £10m after player death
Cardiff City Football Club is suing Miller Insurance Brokers for £10m following the 2019 death of Emiliano Sala.