News
Theresa May pledges to take action against dual pricing
Prime Minister Theresa May has vowed to take action against companies that impose a “loyalty penalty” on customers.
McCafferty re-affirms strategy as Brightside hit by £10.2m loss
Brightside saw pre-tax losses of £10.2m last year, but incoming CEO Brendan McCafferty said there is “no need to alter strategy”.
Marsh UK CEO defends broker facilities amid FCA's market-wide probe
The CEO of the UK's largest broker has defended broker facilities, amid an official probe into allegations the practice is anti-competitive.
Insurers respond to cyber threat to railways
Traditional insurance policies do not cover emerging threats to the railway posed by cyber hackers, a conference heard.
Davies has ‘no limits’ to acquisitive ambition
Davies Group said it doesn’t have “limits to its ambition” over acquisitions, as the company saw earnings grow by 47%.
Aviva small broker community not ‘anti-network’
Aviva's small broker community is not a threat to networks or spurred on by consolidation in the regional market, said the company's managing director of intermediaries Phil Bayles.
Insurance Fraud Awards 2018 - full list of winners
Keoghs partner James Heath, pictured, was handed the achievement prize at the Fraud Awards last night in what proved to be a fruitful night for the law firm.
17 insurtech start-ups picked for Plug and Play Europe accelerator
Plug and Play has chosen 17 start-ups to join batch one of its European accelerator, in collaboration with Play Insurtech and Insurtech Hub Munich.
Aviva launches community to boost ‘overlooked and isolated’ small brokers
Aviva will furnish smaller broker members with same-day response times, discounted compliance packages and free learning and development tools as part of its new community initiative.
Coverys outlines growth plans for Lloyd's business
Coverys is in talks about buying three large books of business in run-off, the company said.
Spotify exec jumps ship for Lemonade
Jorge Espinel, former global head of business development at Spotify, has joined New York-based insurtech Lemonade.
B2B insurtech Hokodo raises €1.9m
Insurtech Hokodo has raised €1.9m (£1.7m) in a seed round led by fintech and insurtech venture capital investor Anthemis.
85% of SMEs concerned over potential IPT tax rise
More than eight out of 10 small businesses are concerned about the possibility of a rise in the insurance premium tax, according to research.
Bruce Stevenson steams past £30m GWP, acquires regional broker
Independent Scottish broker Bruce Stevenson has bought Turiff-based Youngson Insurance Consultants.
Ecclesiastical outlines plans to relocate HQ
Ecclesiastical will relocate its headquarters, but confirmed there will be no redundancies as a result of the move.
More hires expected as MGA Ascent plucks cyber head from Brit
Cyber and specialty lines managing general agent Ascent Underwriting has appointed Caspar Stops as head of cyber.
Brokerbility targets younger brokers to boost membership numbers
Independent broking network Brokerbility is targeting brokers with younger management teams in a bid to avoid clashing with consolidators, managing director Ian Stutz told Post.
Dual pricing sees price comparison sales drop
A greater awareness of dual pricing among customers is seeing fewer people buying insurance online, according to research.
Scottish broker becomes latest Brokerbility member
Glasgow-based broker CCRS becomes the 27th current Brokerbility member.
Markerstudy picks up 10,700 policies from collapsed Alpha
The Financial Services Compensation Scheme has signed off on a deal that will see 10,700 customers of failed Danish insurer Alpha have their policies moved to Markerstudy.
County Group expects to close more deals after swooping for Derby-based broker
The County Group has made its second acquisition of the year, having acquired Derby-based broker Rahon Insurance.
Analysis: Chatbots – Where is the love?
‘Chatbot’ has long-become an insurance industry buzzword, but penetration remains low and firms are still grappling with how to use early iterations of the technology. Elsewhere, some chatbot pilots have failed.
Brit executive chairman Mark Cloutier departs for Aspen
Brit executive chairman Mark Cloutier is leaving the Lloyd’s insurer, to become CEO and chairman of Aspen
Rental market disruptor Canopy hits 10,000 users, poaches Chubb digital lead
Chubb’s former head of SME and digital, Ruth Polyblank has joined rental market disruptor Canopy, which now boasts over 10,000 users.