News
Former Independent Insurance CEO Bright passes away
Michael Bright, the former CEO of Independent Insurance, has passed away.
Axa slammed for weakening ESG commitments around new gas projects
Campaigners have pleaded that Axa ends the expansion of oil and gas production after the insurer revealed it is allowing exceptions for companies it considers to be “in transition”.
Apil alleges ‘clear justice gap’ within personal injury claims
Analysis of the latest Official Injury Claim data by the Association of Personal Injury Lawyers alleges that a “clear justice gap” is present when it comes to road injury claims.
Rugby clubs and restaurants mount Covid BI suit against Allianz
Allianz is facing legal proceedings brought by more than 30 claimants seeking payouts for Covid-related business interruption.
Start-up MGA platform sees surge in interest
Andy Colbran, CEO of NuVenture, said there has been a surge in interest in setting up managing general agents post Covid-19 pandemic, but his business would only consider investing in less than 10% of the plans he sees.
Axa pulls two home products in run-up to Consumer Duty
Following an internal review, Axa has announced it plans to pull Axa First and Axa Residential Let policies in the UK.
Ghost broker sentenced for £302K insurance policy scam
A ghost broker who charged more than 900 unsuspecting motorists £300 each for fraudulent motor insurance policies has been sentenced.
UK tourists to be offered extreme heat insurance
After tourists across Europe suffered delayed, diverted or cancelled flights as temperatures hit highs of 47C, US-based insurance start-up Sensible Weather has announced plans to offer UK travellers ‘extreme heat’ insurance.
UK insurtechs continue to face access to funding challenges
Research by McKinsey & Co has revealed that access to funding and acquiring customers are the two biggest challenges insurtech leaders face.
Arron Banks claims Barclays closed his account in 2018
In the midst of the saga surrounding Nigel Farage’s Coutts bank account, Arron Banks has also claimed to have had his accounts shut down.
FCA Consumer Duty deadline is ‘end of the beginning’
General insurers have been warned today’s Consumer Duty deadline is just “the end of the beginning” as work now needs to start on four extra strands of activity.
Pen restructures; Percayso raises £2.7m; Axa’s Foley successor
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Aviva and Flood Re call for planning rules to be overhauled
Aviva and Flood Re have called on Rachel Maclean MP, minister for housing and planning, to ensure planning rules are updated to align with the UK’s legally binding Net Zero targets.
Former Tif Group doctor suspended for misconduct
Tif Group’s former medical director, Dr Miguel Nadal, has been suspended from practicing medicine for 12 months after a Medical Practitioners' tribunal found his ability to practice to be impaired as a result of misconduct.
Half of boardrooms do not have expertise to tackle climate risks
A survey by Willis Towers Watson and the Nasdaq Center for Board Excellence has revealed that almost half of respondents reported their boards lacked expertise to respond to climate risk.
Regulators unveil ‘clearer’ complaints procedure
The Financial Conduct Authority, Prudential Regulation Authority and the Bank of England have finalised a revised scheme for complaints about regulators.
Claims management companies face personal injury exile
Financial Conduct Authority figures reveal the number of claims management companies that cover personal injury has dramatically dropped to just 30.
Wildlife populations plummet 70% as IFOA publishes biodiversity policy
The Institute and Faculty of Actuaries has published its Biodiversity and Nature-Related Risks policy as biodiversity loss becomes a top global concern.
Which? warns insurers are falling short of Consumer Duty standards
As the deadline for the Consumer Duty edges closer, a Which? survey has highlighted shortcomings in how insurers explain rejected claims.
Insurance lacks a ‘champion’ to lead best practice on Consumer Duty
With only a few days to go until Consumer Duty comes into force, firms are still struggling to prepare for the regulatory changes and the hurdles ahead, industry leaders explain.
Insurance broking sector’s vulnerability to cybercrime uncovered
More than 38,600 pieces of data have been leaked from the top 75 UK insurance broker domains since 2016, according to a scan of the dark web conducted on behalf of Insurance Post.
Lloyd's approves California wildfire syndicate
Lloyd’s has approved the creation of a syndicate dedicated to underwriting wildfire-exposed commercial risks in California.
Zurich refused permission to appeal £8m court judgment
The Commercial Court has refused Zurich permission to appeal a judgment that obliges the insurer to pay millions to a travel company, having determined that an appeal would have “no real prospect” of success.
FCA extends latest product governance survey deadline
Having originally given brokers only a few weeks to send back a “demanding” survey into product governance and distribution practices, Post can reveal the FCA has extended its deadline from 11 August to 1 September.