News
Cyber insurance could be worth billions, ABI claims
The market for cyber insurance could be worth billions in future as companies start to understand the risks, the ABI said.
Foo Fighters sue Lloyd's insurers over cancelled gigs following Paris terrorist attacks
Musicians the Foo Fighters have filed a suit against insurers for failing to reimburse cancelled European shows following the Paris terrorist attacks last November.
Mutual and cooperative sector sees above average growth
Three-quarters of the world’s biggest cooperative and mutual insurers saw positive premium growth in 2014, and 18% saw double digit growth in the same year.
Markerstudy CEO warns about possible job cuts following a Brexit
Markerstudy’s group CEO has warned staff that jobs at the company could be at risk if they vote to leave the European Union.
Thomas Miller launches Thomas Miller Specialty
Thomas Miller, which manages the UK and TT Protection & Indemnity clubs, has launched a new group business, Thomas Miller Specialty.
Automated cars will be the norm by 2050, says Thatcham
By 2050 all drivers in the UK will use fully automated cars, according to Matthew Avery, director of insurance research at Thatcham Research.
Allianz hits out against new EIOPA stress tests
Europe-wide stress tests are “extreme” and unlikely to provide a meaningful picture of the health of the industry, Allianz has warned.
Video: Improving access to justice
The review into add-ons by the Financial Conduct Authority has pushed legal expenses insurance into the spotlight.
Video: Digital Insurance Collective - The value of design thinking
Post's Digital Insurance Collective tried to #WakeUpInsurance with a session on design thinking.
Jepp appointed MD for Zurich Municipal as Torry promoted to head of UK life business
Zurich has appointed Andrew Jepp as Zurich Municipal managing director as Anne Torry steps up as head of its life business, and CEO of Zurich Assurance and Sterling Investment Managers.
Cyber language will become ubiquitous, says Bolt
Five years from now every insurance policy will have cyber language in it, according to Tom Bolt, the recently installed president of UK and Southern Europe at Berkshire Hathaway Specialty Insurance.
Lack of understanding among public fuels reputation crisis for UK insurers
Less than one-third of the UK public trust insurance companies, data from the Reputation Institute suggests.
Compre announces fourth acquisition of the year
Insurance and reinsurance legacy specialist Compre has acquired Allianz IARD’s Ridgwell Fox & Partners pool legacy reinsurance business for an undisclosed sum.
ABI has never been more relevant to its members says outgoing chair Paul Evans
The Association of British Insurers has never been “more relevant to its members” and “the work, focus and voice of the ABI is directed by its members, for its members” according to outgoing chairman Paul Evans.
PRA approves Direct Line’s Group-wide internal model for Solvency II
Direct Line has confirmed it will use its group-wide partial internal model to calculate the Group Solvency Capital Requirement under the Solvency II regime, following approval from the Prudential Regulation Authority.
Official fraud stats are ‘spurious’, legal campaigners claim
The claim that fraud adds £50 to the average insurance premium is just “plain wrong”, legal campaigners have claimed.
PI insurers secure important claims aggregation victory
Solicitors' professional indemnity insurers have emerged victorious with regard to the manner in which they are allowed to aggregate claims, following a recent decision by the Court of Appeal.
Financial services falling behind with female representation
Executive Committees in financial services will not reach 30% female representation until 2048, it was revealed today in a report by global management consultancy Oliver Wyman.
JLT mourns death of Lord Leach
Jardine Lloyd Thompson Group has praised the "significant contribution" made to the broker from Lord Leach of Fairford, who died on 12 June after a short illness.
Marketform rebrands as Neon in break with ‘unprofitable’ past
Marketform has rebranded itself as Neon in order to begin a “new chapter” in the company’s trouble history.
UK's Ingenie licenses software to Dutch telematics provider
Ingenie has licensed out its software platform to a Dutch telematics provider.
Specialist drone insurance set to take off says RPC
The fast-paced growth of the UK's commercial drone market is increasing demand for specialist drone insurance, according to law firm RPC.
JLT hires new Nordic head from Guy Carpenter
JLT Re has appointed Anna-Karin Toresson as head of its property and casualty reinsurance business for the Nordics.
Insurers fear loss of business to FinTech sector
The scale of the threat posed to the insurance market by FinTech companies has been revealed in a new report by PwC.