News
Davies to face no regulatory action over cyber attack
The Financial Conduct Authority and Information Commissioner’s Office won’t be taking action against Davies Group following last summer’s cyber attack.
CII and PFS clash continues as more board members exit
Two long-standing independent directors of the Personal Finance Society have quit the board, citing “significant concerns” about the Chartered Insurance Institute’s hold over the financial advice body's coffers.
Essex car racer’s insurance claim is fast and fraudulent
An Essex mechanic has had his £30,000 insurance claim for injury thrown out of court after he failed to mention he had previously broken his spine, pelvis, neck, and ankle while banger racing.
Aon, Lloyd’s and VIG team up to support Ukraine’s reconstruction
Aon, Lloyd’s, and Vienna Insurance Group committed to providing enhanced reinsurance capacity to support Ukraine’s country’s recovery and reconstruction efforts.
Dive In aims to unlock innovation through inclusivity
Insurance Post is media partner for this year’s Dive In Festival, which will take place from 26 to 28 September and launch a mentoring programme.
Watch Zurich, Allianz, Markel, Guidewire and SS&C discuss claims inflation
The industry is facing the brunt of rising inflation across most lines of insurance as carriers see claims expenses mounting.
Lloyd’s former broker Terry Wellard dies
Terry Wellard, the longest-serving chairman of the LIBC Motor Executive Committee, has died aged 82.
Bank of England to test mini-Budget-type stress on insurers
The Bank of England has launched its first “system-wide exploratory scenario” to throw light on the behaviours of insurers, banks and investment funds in stressed financial market conditions.
Aon hit by Russian MOVEit data hack
Insurance Post can reveal that Aon has been caught up in the MOVEit data hack, which has embroiled a number of major corporations.
Blanc wants Aviva to persist as ‘massive voice’ on sustainability
Aviva CEO Amanda Blanc has said she hopes to continue to use the insurer’s voice to push for the “sustainability agenda.”
The Insurance Charities seeks industry support for its awareness campaign
As the cost-of-living crisis continues to leave people feeling the pinch, The Insurance Charities is asking for help so it can reach those in need.
Ifed reports surge in opportunistic fraud
The City of London Police’s Insurance Fraud Enforcement Department has reported a growing number of people making fraudulent insurance claims as a result of cost-of-living pressures.
Furness to leave Covéa after 30 years
Covéa Insurance has selected Georges de Macedo as chief executive and Chris Moat as chairman of its board of directors.
Court opens door to many more Covid BI claims with ‘at-the-premises’ judgment
Hundreds of thousands of policyholders, who until now have been left uncompensated for pandemic losses, may be due payouts, following a Commercial Court judgment on ‘at-the-premises’ disease clauses.
EU moves forward with AI regulation
The use of artificial intelligence in the EU will now be regulated by the AI Act to ensure that AI developed and used in Europe complies with EU rights.
Luko joins Admiral; Stubben Edge launches capital arm; Aspen appoints reinsurance CUO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Wahaca echoes Corbin & King argument in latest Covid BI battle
Mexican restaurant chain Wahaca is seeking tens of millions of pounds from insurer QIC Europe in the latest Covid business interruption suit to hit the courts.
Industry-specific GPT ‘only way’ to mitigate security risks
Simplifai has stressed that specially built industry-specific GPT, which is trained on insurance data, can alleviate AI concerns and tackle security and data privacy issues.
FCA restricts activity of four insurance broking firms
The Financial Conduct Authority placed restrictions on four insurance brokers it fears are failing to ensure their appointed representatives comply with the regulator’s rules.
Mixed injuries confusion will ‘inevitably’ cause more OIC delays, MIB boss claims
Dominic Clayden, CEO of the Motor Insurers’ Bureau, said a resolution on mixed injuries needs to be found quickly, no matter the outcome.
Motor accident solicitors back calls for compulsory e-bikes and e-scooters insurance
The chair of the Motor Accident Solicitors Society has backed calls from politicians for compulsory insurance to be considered as a requirement for e-bikes and e-scooters.
Admiral to diversify with scaled products and business launches
Russell Fisher, chief operating officer of Admiral Pioneer, revealed how Admiral Group is seeding, launching, and scaling new products and services to diversify what the insurer does in the future.
Motor and buildings insurance top the most complained about products by consumers
The Financial Ombudsman Service revealed motor and buildings insurance are among the top five most complained about products for 2022/23.
Carpenters takes 42 staff and all OIC portal cases from Slater and Gordon
Insurance Post can reveal that Carpenters Group has taken on Slater and Gordon's OIC portal account, including all staff, with sources claiming that no fee was paid.