News
Admiral offers refunds after overcharging ‘small percentage’ of customers
A percentage of Admiral customers have been issued a refund after the insurer identified an error affecting the premium quoted at renewal.
Marsh CEO scores insurers ‘C+’ for innovation
Marsh president and CEO Martin South has said that he would score the insurance industry at best ‘a C+’ for innovation and that market structures are preventing the sector putting client needs first.
Markerstudy and Atlanta deal given FCA approval
The merger between Markerstudy and Atlanta, the personal lines broking business of The Ardonagh Group, has been approved by the Financial Conduct Authority.
Buyers demand greater stability and more forward thinking from insurers
While a softening commercial insurance market may be welcome news to corporate insurance buyers, rate instability leaves insurers’ credibility at risk, Marsh head of risk management placement Cat French has told Post.
NSM buys AllClear owner; Axa’s Uefa partnership; Brown & Brown’s UK retail CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
WTW spies SME affinity opportunity following investment ‘gear change’
WTW has invested in its affinity insurance capabilities, with the aim of establishing programmes targeted at SMEs as well as consumers.
Brokers aiming for net zero more than doubles in two years
The proportion of brokers taking steps to achieve net zero has more than doubled in just two years, according to research from Aviva.
Insurance experts propose using IPT to combat premium discrimination
Insurance industry professionals have proposed that the government use insurance premium tax to address the “poverty premium” and “ethnicity penalty” in motor insurance.
Direct Line to shutter motor ownership app after nine months
Direct Line-owned motor ownership platform Caha!, which launched last year, will shut down next month, the insurer has announced.
Kindertons linked with Markerstudy investor Pollen Street
Private equity house Pollen Street has been tipped to purchase accident management and mobility company Kindertons, after a potential deal with Auxillis’s owner fell through, sources have told Insurance Post.
Bartleet aims to be ‘bridge between industry and consumers’
Tom Bartleet, insurance veteran and Liberal Democrat candidate for Suffolk South, has told Insurance Post that he wishes to use his experience to serve his constituents, if elected.
Tribunal slams ‘connected’ leasehold insurance arrangement
A tribunal has ruled that leaseholders in a block of flats were overcharged by 145% after it had “not been presented with one item of documentary evidence to suggest that the insurance premiums for the building are competitive”.
Inflation issues remain despite drop in rate
Speaking at the Insurance Post Claims Club, Allianz’s chief claims officer Graham Gibson stated that the latest inflation figures seen this week will not trickle down to insurance any time soon.
Industry watches as election puts Martyn’s Law passage in doubt
Anticipated legislation targeted at boosting public premises’ resilience to terrorist attacks could now be delayed by the dissolution of parliament ahead of July’s general election.
FCA allows four firms to sell Gap insurance
The Financial Conduct Authority has confirmed that four insurance firms are now permitted to recommence their sales of guaranteed asset protection insurance.
Howden’s purchase; Ecclesiastical’s schemes tool; Hiscox’s schemes head
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Insurance veteran running in snap election
Former owner and CEO of Erskine Murray Insurance Brokers, Tom Bartleet, has announced his intention to stand in the upcoming general election as the Liberal Democrat candidate for Suffolk South.
Andy Haste appointed Canopius group chairman
Canopius has appointed former RSA boss and current Esure chairman Andy Haste as its group chairman, succeeding Michael Watson on 1 July.
FCA warns insurers against subletting regulatory responsibilities
The Financial Conduct Authority’s head of department for insurance market interventions, Caroline Gardner, has revealed the regulator’s concerns about providers keeping an eye on their claims handling partners.
Singapore Airlines victim named as retired insurance manager Geoff Kitchen
The man who sadly passed away after a Singapore Airlines flight hit by turbulence yesterday has been named as Geoff Kitchen, a former branch manager at Axa and business development manager at Acturis.
Motor to return to profitability in 2024
Data Analysis: The latest Oxbow Partners motor insurance report proves to be encouraging reading for those operating within the space.
Applied building momentum as it enters pilot with Aviva
After increasing the number of brokers on its Epic platform in 2023, Applied Systems Europe CEO Tom Needs said he expects to match that growth again this year.
One in 10 claim images flagged for potential fraud
One in 10 images from claims have been flagged for fraud concerns, according to Kaye Sydenham, Verisk’s anti-fraud product manager.
Smaller businesses increasingly drawn to growing recall insurance market
Smaller businesses are increasingly buying product recall insurance in order to meet their contractual obligations, spurring growth in what has long been a niche corner of the industry.