News
RSA backtracks over no bonus for UK staff
Exclusive: RSA has backtracked over a decision to not award bonuses to UK staff, after employees claimed it was unfair that group CEO Stephen Hester received a bonus of almost £5m.
Lloyd's Brussels gets regulatory green light, Vandendael named CEO
Lloyd’s has received regulatory approval from the National Bank of Belgium for its Brussels subsidiary.
Aviva's Townend replaces Blanc as IFB chair
The Insurance Fraud Bureau has apointed Aviva’s managing director of UK General Insurance replacing former Axa UK CEO Amanda Blanc.
Hundreds of hip implant claims ditched as High Court rules not defective
The High Court has ruled that metal-on-metal hip implants are not defective, in one of the largest product liability group actions in recent years.
CII launches Aspire Apprenticeship programmes
The Chartered Insurance Institute has launched its Aspire Apprenticeship programmes.
Insurtech funding reaches record high
The volume of insurtech deals reached $724m in the first quarter of 2018, its highest ever level and 155% greater than the same period last year.
Amazon put on 'beauty parade' to pitch as motor MGA
Exclusive: Amazon put on a ‘beauty parade’ to insurers last December with the intention of pitching itself as a motor managing general agent.
May pledges £400m to remove Grenfell-style cladding, but insurers not off the hook
Exclusive: The government has said the private sector, including insurers, are expected to cover replacement costs potentially dangerous cladding from privately owned high-rise tower blocks.
Insurers slammed over auto-renewal 'loyalty tax' of £37m
Insurers have been slammed for increasing rates on auto-renewals, amounting to what campaigners call a 'loyalty tax' of £37m.
Insure the Box tops 2500 employee learning hours in nine months
Insure the Box has delivered over 2500 hours of employee learning in just nine months.
Direct cyber market grew 32% last year
US property and casualty insurers wrote $1.8bn (£1.34bn) of direct cyber premium last year, a growth of 32% from the previous year.
Scor names McMurdo UK insurance CEO
Stuart McMurdo has been named CEO of Scor’s UK insurance business.
Hastings staff to get instant customer feedback
Hastings Direct is rolling out a customer sentiment platform that will give its staff real-time access to their own customer feedback.
Gocompare uses tools to remove unconscious bias in hiring process
Price comparison site, GoCompare has decided to remove candidates’ names from CVs and create an all-female shortlist for its chief marketing officer role, in a bid to attract more female staff.
Brokers urged to contact FSCS over Alpha collapse
Brokers and managing agents for Alpha Insurance are being urged to contact the UK guarantee fund.
Sedgwick UK will finalise organisational structure by June
Exclusive: Sedgwick UK will have finalised its operational structure following its merger with Cunningham Lindsey by June.
Lemonade to ditch traditional insurance policies
Lemonade has created an ‘open source’ insurance policy and will eventually stop offering traditional insurance policies to its customers.
Allianz to gain £250m commercial book from LV deal
Insurance giant Allianz will gain a commercial book worth £250m from LV following its purchase of 49% of LV’s general insurance business.
Week in Post: Picking up the pieces after Biba 2018
The possibility of physical and mental collapse is now very real. No sympathy for the Devil. Buy the ticket, take the ride.
Brokers must analyse customers' exposure to Brexit
A panel of experts has told brokers at the British Insurance Brokers' Association annual conference that they need to be preparing for the UK's exit from the European Union and analysing their customers’ exposure.
Updated: MPs raise ‘strong concerns’ over whiplash reform
The government’s proposed whiplash reform could lead to significant access to justice concerns, according to a Parliamentary committee report.
UK motorists won’t have to apply for green card after Brexit
Drivers and truckers may not need to apply for a ‘green card’ in order to remain insured while driving in the European Union after Brexit.
Insurance panel calls for stricter fire regulations
A panel of insurers, brokers and loss adjusters has called for stricter fire regulations, on the eve of the publication of the Hackitt review of building regulations and fire safety.
FCA: Client money handling a 'continual focus'
The Financial Conduct Authority advised that oversight of how brokers handle client money is a continual focus at a seminar exploring ‘Customers – at the heart of our business’.