News
Policyholders told to check cover as FCA imposes restrictions on insolvent construction broker
The Financial Conduct Authority has told customers who purchased cover through insolvent South West-based Professional Construction Risks Limited to contact their insurers directly to confirm the status of their policies.
Fully Comp episode 10: When will we meet again? – the future of insurance networking in 2021 (part one)
Welcome to the latest episode of Fully Comp, Post’s video series tackling some of the biggest issues in insurance. Today we ask the question: When will we meet again?
No Supreme Court BI judgment before January, says FCA
Insurers and policyholders will have to wait until next year for the final outcome of the Financial Conduct Authority-led business interruption test case, according to an update from the regulator.
RSA names Steve Watson London market head
RSA has appointed Steve Watson as managing director of its London market business with immediate effect.
CPC flags Lockton admissions in ongoing court case
Combined Property Control has reported that it will rely on admissions made by Lockton as it replied to the broker’s defence document submitted to the High Court in their ongoing legal dispute.
Intervene in contingency market by January to save 2021 events, government told
An open letter asking for the UK government to underwrite a Covid-19 contingency insurance product has been described as “a last throw of the dice” to save the 2021 entertainment and sporting calendar by one of the campaign’s architects.
Hiscox confirms Tom Shewry as UK CFO
Hiscox has appointed Tom Shewry as chief financial officer for its UK business and Hiscox Insurance Company.
Alarm sounded on bookings business that sold unauthorised Covid cancellation cover
The Financial Conduct Authority has issued a warning against a bookings software provider that marketed a cancellation insurance product to owners of UK holiday lets, following an investigation by Post.
Failed Elite ATE policies disclaimed
The administrators of Elite Insurance have disclaimed all but two after the event insurance policies underwritten by the insurer.
FCA consults on proving presence of Covid-19 for BI claims
The Financial Conduct Authority has launched a consultation on guidance to policyholders, insurers and intermediaries on how the presence of Covid-19 in a particular area may be proved for the purposes of business interruption claims.
Admiral’s David Stevens to retire at year end
Admiral group CEO David Stevens will retire at an earlier than expected date of 31 December 2020, the insurer has confirmed.
For the record: The week in deals featuring Covea, Davies, Inigo and Zurich
Post wraps up the major insurance deals of the week.
Co-op and Markerstudy: A deal 22 months in the making
Late on 25 November, the Prudential Regulation Authority and Financial Conduct Authority at last approved Markerstudy’s takeover of the Co-op’s underwriting business – 675 days on from when the deal was first announced.
Fully Comp episode 9: Not so Home Alone – how do you replicate the company Xmas party on Zoom?
Welcome to episode nine of Fully Comp, Post’s video series tackling some of the biggest issues in insurance.
Brit names RSA’s Gavin Wilkinson as group CFO
Brit has appointed Gavin Wilkinson as group chief financial officer, joining from RSA where he is currently CFO for Scandinavia.
DLG issues inaugural environment progress reports and 2021 targets
Direct Line Group has become a carbon neutral company and is targeting a net carbon neutral investment portfolio by 2050, the insurer detailed in a pair of documents released at the end of 2020.
East West administrators reveal 194 open claims and £165m shortfall
East West Insurance had 194 open insurance claims as of 12 October, administrator EY has confirmed.
Insurers face £1.4m shortfall from Inspire failure
Insurance providers are set to be left with a £1.4m hole from the collapse of Coventry-based Inspire Insurance Services, with the broker's total deficit estimated at £2.7m by liquidators.
Be Wiser makes board changes
Be Wiser has reshaped its board again with a new chair and hiring former Endsleigh CEO Jeff Brinley as chief financial officer, Joe Copp as group chief operating officer and David Russell as chief risk and compliance officer.
Tasker targeting up to five more deals in 2021 after Numark buy
Tasker Insurance Brokers is looking to expands its regional footprint with a series of hub purchases next year, group CEO Rob Organ told Post.
Adam Winslow to return to Aviva as CEO of international
Adam Winslow, AIG CEO for global life insurance, is returning to Aviva in January to become CEO of international.
Apollo suspends head of marine and energy liability over reported assault conviction
Apollo head of marine and energy liability, Howard James Burnell, has been suspended following a reported conviction for assault, Post has learned.
Lucy Woods appointed CHO chair and Peter Gomes interim CEO
Lucy Woods, CEO of Ax Group – formerly known as Accident Exchange – has been appointed chair of the board of the Credit Hire Association, following the departure of Kirsty McKno who stepped down in November.
Co-op confirms insurance sale to Markerstudy has gone through
The Co-op has confirmed the completion of the sale of its underwriting business to Markerstudy after Post revealed the deal had received regulatory approval.