News
Video: Embracing new technology and a digital workforce to drive a more efficient and innovative business
From chatbots and the internet of things, to drones and artificial intelligence, technology is having a profound impact on the insurance sector, how it engages with customers and the way it conducts its business.
Miller to expand employee ownership after sale
The existing partners of Miller will be reinvesting into the business to keep a “substantial minority ownership” and targeting broader employee ownership as part of the deal that sees the firm switch hands from Willis Towers Watson to Cinven and GIC.
Supreme Court BI test case judges oversaw Orient Express ruling
Lawyers suggested experience will trump "ego" after it emerged two of the judges on the Supreme Court business interruption test case panel oversaw rulings on Orient Express, a case that has been hotly contested during proceedings between the Financial…
Sompo's Lloyd’s exit about us, not them: international insurance CEO Julian James
Sompo’s decision, announced in April, to walk away from Lloyd’s at the end of this year was driven by the insurer’s ambitions rather than reservations about the Lloyd’s market itself, Sompo international insurance CEO Julian James has said.
Swiss Re urges insurance sector to watch out for stagflation scenario
There is a 10% risk of a stagflation scenario which would knock more than 2% off insurance premium growth in Europe next year, according to analysis by Swiss Re.
Attend the 2020 British Insurance Awards on 17 November
The British Insurance Awards might have lost its traditional venue the Royal Albert Hall and an in-person audience this year, but it is still set to have all the pizazz, glitz and fun you’d expect from the most prestigious event in the industry calendar.
Coverys Lloyd's syndicate to stop accepting business and renewals from next year
Coverys-backed Lloyd’s Syndicate DTW 1991 is to stop accepting new and renewal business from 31 December 2020.
Travelers expands Mike Lawton’s role to lead on specialty
Former Towergate and RSA boss Mike Lawton, vice president of business insurance at Travelers Europe, will now also be responsible for specialty business including its Lloyd’s syndicate, the insurer has confirmed.
Covéa fined €20m by Paris court in civil suit with Scor
Covéa and its CEO and chairman Thierry Derez have been fined €20.1m (£17.9m) by a Paris court for a breach of legal and fiduciary duties and obligations on the part of Derez in his role as a director of Scor.
No losers as Cinven and GIC buy Miller from WTW, say brokers
Brokers have hailed private equity house Cinven and Singaporean sovereign wealth fund GIC buying Miller from Willis Towers Watson as a deal with no losers.
Gap insurance fraud uptick predicted as recession kicks in
Financial pressures caused by Covid-19 could lead to an increase in guaranteed asset protection insurance fraud, with some insurers already seeing worrying signs, experts have cautioned.
Analysis: BI claims 'avalanche' warning as loss adjusters look to tech
Loss adjusters are looking to technology to deal with business interruption claims, with the market preparing for a possible influx following the upcoming Supreme Court test case review.
Claims and Fraud Summit 2020: Hear from AA, Allianz, Aviva, Ecclesiastical, Hiscox, Markel, Munich Re, NFU Mutual, QBE, RSA and Zurich
The annual Insurance Post Claims and Fraud Summit will be taking place this year virtually on 18-19 November 2020 – so be sure to join us and take advantage of our online networking platform, livestreamed agenda sessions and explore a wealth of content.
Co-op Insurance, National Body Repair Association, The AA and Ageas discussed how insurers can build a more sustainable approach to motor claims
The issue of using reclaimed parts has been ongoing among motor insurers, manufacturers and salvage companies for years. While there has been little traction to use them as an alternative to traditional new parts, things could be set to change
Warranty insurer must pay £11,700 for discrimination against depressed employee
Structural defects warranty insurance provider MD Insurance Services has been ordered to pay £11,700 to an employee suffering with depression who, an employment tribunal ruled, had been treated unfavourably by the company.
Former Ferma president Jo Willaert passes away
Jo Willaert, the immediate former president of the Federation of European Risk Management Associations, has passed away.
Direct Line brands IBM’s work 'materially defective' in £36m legal fight
IBM’s work contained “extensive” and “material” issues in both design and execution that should not have been present at a late stage of development, a Direct Line Group subsidiary has alleged in an ongoing legal spat over an IT contract.
Vote now for the winner of the Industry Impact Award at the 2020 British Insurance Awards
This prestigious award recognises the importance of business deals, partnerships and key hires, and the 2020 winner will be decided by you.
ABI refutes claims that non-essential travel will invalidate car insurance
Drivers who use their vehicles for non-essential travel under lockdown will not risk invalidating their motor insurance, the Association of British Insurers has told Post in response to national press reports.
Deloitte names UK head of insurance
Andy Masters has been appointed Deloitte UK head of insurance.
Zurich and Scor face $18m High Court claim from Experian
Zurich and Scor face an $18m (£13.7m) legal claim from consumer credit reporting company Experian, relating to a layer of excess of loss cover underwritten by the two insurers that was in place between 2015 and 2016.
Zurich to retrain 3000 UK staff over five years
Zurich’s analysis of its UK workforce has shown that the future impact of technology could mean 270 jobs go unfilled in the next five years if its team is not reskilled.
Vincent Gardner leaves Ethos Broking M&A director role
Vincent Gardner has left the post of group mergers and acquisitions director at Ethos Broking, Post can reveal.
Lloyd's changes tack on digital placement plans as it lays out two-year modernisation agenda
Lloyd’s has revised its intention to build two electronic placement platforms as part of its programme to modernise and cut costs in the market.