News
Sedgwick appoints Neil Gibson as UK CEO
Sedgwick has promoted chief operating officer Neil Gibson to the position of UK CEO.
Policy Expert bought by Abu Dhabi Investment Authority
The Abu Dhabi Investment Authority has bought a majority stake in insurtech Policy Expert from Primary Group.
Arch takes Aon team; Gallagher expands operations; Vision Track’s CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
FSCS expects East West compensation costs to rise
The Financial Services Compensation Scheme has said it expects payments to customers of failed structural defects insurer East West to rise in the next financial year.
Wakam taps former RSA personal lines director to lead UK operations
Wakam, the European B2B2C insurer, has made a range of new hires, including the appointment of Mark Christer as UK branch manager.
AI and automation must come to the civil courts, says former Lord Chancellor
The Rt Hon Robert Buckland KC MP, pictured, said “failing to act” on AI in the court system will “fundamentally be the wrong choice with dire consequences”.
PL insurers continue to face rising material and labour costs
Both home and motor insurers are continuing to feel the effects of the rising costs of labour and materials, according to reports from Verisk and the Association of British Insurers.
Lloyd’s earmarks £52m following slavery ties research
Lloyd’s has launched a programme of initiatives to help Black and ethnically diverse people join and build careers in the market following independent research into its historic links to the transatlantic slave trade.
JP Morgan to launch personal lines insurance proposition
Sources have told Insurance Post that JP Morgan is developing and building its own personal lines insurance proposition.
Insurers welcome Automated Vehicles Bill included in the King’s Speech
The King’s Speech announced the government's intention to, in this parliament, introduce long-awaited legislation covering the use of self-driving vehicles on the UK’s roads.
Growth expected in premium income in 2023
Insurers are set to report growth in premium income for the rest of 2023 before tapering off, according to EY.
Direct Line eyes turnaround with improved Q3 results
Direct Line’s Q3 trading update has revealed it has doubled its Motor gross written premiums, a welcome improvement amid a turbulent year for the insurer.
Insurers risk being ‘left behind’ if they don’t share data
Insurers that don’t share claims data with the wider market risk being “left behind”, LexisNexis Risk Solutions’ James Burton has told Insurance Post.
Phoebe Hugh leaves DLG to ‘lead Monzo’s charge into insurance’
Phoebe Chibuzo Hugh has left Direct Line Group to head up Monzo Bank’s entry into insurance, she has announced.
RSA’s PI product; Jensten’s One Broker deal; GTA names chair
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Implementing dual PI discount rate could be ‘complicated’
Speaking at an Association of British Insurers event, a panel of experts agreed that while a dual discount rate could lead to better accuracy, it could prove to be very complicated to work with.
Aon to bring UK and EMEA businesses together
Aon has announced that it is bringing together its client-serving capabilities and operations in the UK and Europe, Middle East and Africa regions.
Allianz catches fundamentally dishonest pavement fall fraudster
A recent Allianz personal injury case has revealed a claimant to be fundamentally dishonest, finding that they had misled the insurer regarding their accident.
Sprout AI reveals post-funding expansion plans
AI-led insurtech Sprout AI has revealed plans to “transform claims processing” as well as expand into new markets, following its latest funding round.
Storm Babet to cost insurers at least £450m
Fresh estimates from PWC calculate the costs of damage due to the severe weather caused by storm Babet to be between £450m and £650m.
UK government backs insurance partnership to rebuild Ukraine
The UK government has backed an insurance scheme developed by the European Bank for Reconstruction and Development to boost the provision of cover for war risks in Ukraine.
CII’s financial statement prompts questions
A single page summary of the Chartered Insurance Institute’s finances issued alongside the organisation’s AGM agenda has sparked concerns among members.
2023 European Insurance Technology Awards winners revealed
Today, Insurance Post is delighted to announce the winners of 2023 European Insurance Technology Awards.
Insurers must brace for another burst pipe claims influx
As winter approaches, another surge in burst pipe claims may be likely, with research showing a 75% increase in such claims in 2022.