News
Credit hire invoice costs quintuple in 10 years
Research released by Keoghs has revealed that the average cost of a credit hire invoice is now five times higher than it was in 2014.
Gallagher’s Rea bemoans ‘basic’ service remains a differentiator
Such has been the drop in service standards among insurers, anyone offering “the bare minimum” might stand out in the current market, according to the CEO of the UK’s largest insurance broker, Gallagher.
Cila elects Global Risk Solutions' Humphrey as president
Adam Humphrey, CEO of CCS & GRS International at Global Risk Solutions, has been elected as the new president of the Chartered Institute of Loss Adjusters and has his eyes on the professional body expanding internationally.
Aviva to roll out ‘transparent’ broker portal
Aviva’s MD for commercial and chief distribution officer, David Martin has revealed to Insurance Post that, in November, the insurer will be rolling out a new broker portal.
Inclusive job adverts key to tackling talent gap
Job postings should be amended to be more inclusive to attract diverse talent and drive recruitment, according to Martyn Matthews, managing director of SSP Broker.
FCA claims Gap action will save consumers £70m
The Financial Conduct Authority has said consumers will save around £70m due to improvements firms must make to guaranteed asset protection insurance products.
Lamppost liar loses £600K claim
HF and Hastings Direct have successfully contested a £600,000 claim based on conflicting passenger references and no evidence of vehicle damage.
Saga in talks with Ageas over insurance arm
Saga is reported to have entered into exclusive talks with Ageas in relation to its insurance arm.
Gallagher promotes Collings to chief broking officer
Gallagher has promoted Simon Collings to the role of chief broking officer, reporting to Michael Rea, CEO of Gallagher in the UK.
Insurance Museum seeks fresh financial backers
Reg Brown, retired Lloyd’s underwriter and chairman of the Insurance Museum, is hosting a drinks reception tonight (1 October) at The Association of British Insurers HQ in a bid to reinvigorate financial support for the history initiative.
Aon increases insurance service brokerage to 5%
Multiple sources have told Insurance Post that Aon has increased its rate of insurance service brokerage to 5%.
Virgin Money re-enters home insurance market
Virgin Money has launched home and landlord insurance products in partnership with insurtech Uinsure.
Canopius exits space insurance market
Canopius has ceased to write new space business and has confirmed the departure of two senior underwriters for the class.
Zego CEO outlines plan to become household name in motor
Zego CEO Sten Saar plans to focus on UK consumer and telematics for the next phase of the insurtech’s growth.
Only 3% of underwriters reckon pricing tech is perfect
A staggering 97% of UK actuaries and underwriters see room for improvement in the pricing technology they use, according to research from hyperexponential.
FCA remains ‘concerned’ about premium finance
The Financial Conduct Authority’s Sheldon Mills has said the regulator is still watchful and concerned about premium finance, but is encouraged that "progress has been made."
Ogden Rate shift hailed as ‘sensible and fair’
The personal injury discount rates in Scotland and Northern Ireland have been positively updated, prompting welcoming reactions from across the industry.
Sompo’s marine proposition; Lockton’s charity walk; Allianz Partner’s travel director
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva’s Briggs says age diversity is ‘neglected’ by insurance
Aviva’s diversity, inclusion and resourcing director Jonny Briggs has said age diversity and maintaining a multi-generational workforce have been “neglected” by the insurance industry when considering diversity and inclusion.
Zego aims to double staff output through AI use
Zego CEO Sten Saar plans to double staff output through generative artificial intelligence use.
FCA responds to Sir Trevor Phillips questioning EDI delay
Financial Conduct Authority CEO Nikhil Rathi has said the Treasury Select Committee’s feedback on its diversity and inclusion proposals contributed to its decision to pause the work.
PRA to reduce oversight of Lloyd’s managing agents
The Prudential Regulatory Authority has said that Lloyd’s managing agents will face a “lower level of supervisory interaction”, as the regulator moves to deliver on its competitiveness and growth objective.
Brace yourself: Dental injury claims quadruple
Insurers have seen a marked uptick in claims involving dental injuries in the last three years, according to law firm HF.
Insurance knowledge ‘secondary’ for insurtechs
Speaking at the Earnix Excelerate conference, ManyPets chief underwriting officer Justin Clarke said knowledge of insurance has taken a backseat to knowledge of software for insurtechs.