News
Biba outlines its top 11 Brexit concerns in letter to senior MPs
The British Insurers Brokers’ Association has sent a letter to members of the government, setting out their member’s opinions on what should be considered as the UK heads towards exiting the European Union.
Law Superstore CEO Matthew Briggs hails legal aggregator as transparency game changer
A new aggregator offering legal services - including public injury and road traffic accident options - is poised to launch next week with its boss boasting that Law Superstore could hail a new era of transparency in the sector.
Axa ties up partnership with Chinese e-commerce giant Alibaba
Axa has signed a deal with Alibaba to jointly explore opportunities to distribute insurance products and services through the Chinese e-commerce giant’s platforms including Ant Financial Services.
Customers only reading 15% of their insurance documents, research finds
A typical insurance product comes with more words of explanation than Shakespeare’s Romeo and Juliet, and is written in a language only a PhD student can easily understand, research has revealed.
CMC industry continues to shrink due to regulation, MoJ reveals
Industry-wide turnover for personal injury CMCs has dropped 44% to £215m from £310m last year, as the industry continues to shrink as a result of government regulation.
Enterprise fallout, fraud cases reopened, blockchain and Ghostbusters - the week in Post
Well the weather might have turned a touch greyer, but the summer holidays are truly here judging by the fact my commute to work is less busy but buying a sandwich in the West End at lunchtime has become a lengthy tourist obstacle course.
Swiss Re's Mumenthale positive despite nine point hit to H1 COR
Swiss Re has reported a H1 net income of $1.9bn (£1.44bn), down from $2.3bn (£1.75bn) for the same period in 2015.
Brit CEO Cloutier hails "sound performance" despite "challenging" market
Lloyd's insurer Brit has reported an operating profit before FX and corporate activity costs of US$198.5m (£150.5m) for the first half of the year (H1 2015: US$70.9m). Profit after tax was US$197.6m (H1 2015: US$6.4m).
Gallagher sees strong increase in net earnings
Arthur J. Gallagher’s broker business saw a 28% increase in their net earnings in H1 2016, from $140.9m (£106.7m) for the same period last year to $180.8m (£136.9m).
Glaser confident after "strong quarter" for Marsh
Global insurance broker Marsh had a solid second quarter of 2016.
Biba and Ageas renew calls for telematics tax break after record motor premium hike
Young drivers should be given a tax break on their motor insurance if they take out a telematics policy.
Enterprise liquidator tells policyholders to seek new cover due to claims uncertainty
The provisional liquidator of Gibraltar-based Enterprise Insurance Company has warned that it is uncertain the business has enough assets to pay claims.
No clarity over who will pay for ADAS recalibration
Thatcham Research has issued a new voluntary code of practice to provide clear guidance on the recalibration of car safety technology during the replacement or refit of windscreens.
UK P&I Club: ‘Can-test’ could cut deaths caused by cargo liquefaction
Protection and Indemnity insurance provider The UK P&I Club has called for members to use ‘can-test’ to help avoid loss of life arising from cargo liquefaction.
Standards could play key role in accelerating fintech and insurtech
Standards could play a key role in helping to strengthen and accelerate fintech’s development in the UK, research from BSI has suggested.
Insurance Europe has doubts on services passport
Insurance Europe has questioned the ability of a services passport to ensure that a service provider is able to satisfy cross-border insurance obligations, in response to a European Commission consultation.
Las Vegas fraudster pleads guilty to laundering £66,000 of dead mother's pension
A woman who pocketed £66,000 of her mother’s pension payments three years after she died has pleaded guilty to fraud and money laundering.
Vehicle thefts up for first time in 20 years in London
The Metropolitan Police has seen the first rise in vehicle thefts in 20 years, a Home Office report has revealed.
AIG announces Brexit residency cover for executives
AIG is to cover legal challenges in the event of permanent residency applications being rejected pre Brexit, and the challenges to repatriation orders post Brexit, and part of its Directors' and Officers' policy.
Lloyds Banking Group insurance profit hit by weather claims in H1 2016
Lloyds Banking Group this morning reported that its general insurance business saw a 12.5% drop in general insurance ‘underlying profit’ for the first half of 2016 after reporting £168m in income (H1 2015: £192m).
Supreme Court ruling will not revolutionise industry, say insurance lawyers
The Supreme Court ruling to allow case re-opening when new evidence of fraud has come to light will not lead to an influx of old cases being reexamined, insurance lawyers said.
Charles Taylor to set up a TPA in Q4
Charles Taylor will establish a third party administrator to handle specialist lines later this year, Post has learned.
Career file: Conor Brennan appointed as UK GI head of Zurich UK
Conor Brennan will replace Vibhu Sharma, who left his role as Zurich’s UK country manager and head of general insurance business, amid wider restructuring at the company.
Dive In festival gets a wider audience
Next month Lloyd’s will stage its second Dive In Festival, promoting the cause of diversity and inclusion in the insurance industry.