News
Ex-Jelf boss Alway and former Aston Scott owner buy RWA
Alex Alway and Andrew Scott have teamed up to form UKGI Group and have bought compliance consultancy firm RWA, Post can reveal.
Peter Hubbard made Be Wiser chairman as Mark Bower-Dyke becomes chief visionary officer
Former Axa and UK General Insurance CEO Peter Hubbard has been appointed as non-executive chairman of broker Be Wiser Insurance, Post can reveal.
Ageas calls for £1.2bn investment on UK roads to save lives
Investment of £1.2bn on 5267km of roads across Britain could prevent more than 8000 deaths and serious injuries over the next 20 years, according to a report by the Road Safety Foundation and Ageas.
GRP makes first purchase in Republic of Ireland with Crotty Insurance Brokers
Global Risk Partners has made its first purchase in the Republic of Ireland taking a majority stake in Crotty Insurance Brokers, Post can reveal.
Covéa leader calls on insurance industry to back new T Levels qualifications
Matthew Metcalfe, senior manager for talent acquisition at Covéa has urged the insurance sector to “reach out” and engage with the government’s new T Levels qualification by registering to offer work experience placements.
Insurer shares climb despite BI payout predictions
Some of the Insurers involved in the Financial Conduct Authority’s business interruption test case saw share prices increase following the verdict, despite participants being told to pay out for some claims.
CMA warns of potential for market detriment in Ardonagh-Bennetts buy
The Competition and Markets Authority has found that Ardonagh’s purchase of Bennetts could lead to “higher prices, less choice and worse services for motorcyclists in the UK”.
QBE forecasts $70m net hit after BI ruling
QBE has predicted that it faces a $70m (£54.3m) hit net of reinsurance for business interruption claims in the UK after the court ruling yesterday on the BI test case.
Former Broadmoor psychiatrist faces investigation for role in Ecclesiastical abuse claims
Professor Tony Maden, psychiatrist and the former head clinician of Broadmoor’s dangerous and severe personality unit, is facing two separate investigations by the General Medical Council for his role as an expert witness in Ecclesiastical church abuse…
Zurich says its BI wordings not triggered in FCA test case
Zurich policies under scrutiny in the Financial Conduct Authority’s business interruption test case are not expected to pay out, the insurer has confirmed in an update.
FCA BI test case: Insurers likely to appeal - but at what cost?
Insurers have been urged to consider the “reputational damage they may suffer” before appealing the Financial Conduct Authority's business interruption test case judgment.
BI judgment welcome news for policyholders but result differs by wordings
Disease and ‘hybrid’ wording policyholders are particularly well placed to seek compensation after the landmark High Court ruling today in the business interruption test case and those with prevention of access wordings may also find they have cover, law…
Action group courts businesses as Marsh policy predicted to pay out
The Hospitality Insurance Group Action is seeking more members, after a court ruling suggested a policy brokered by Marsh for several insurers is likely to pay out.
Ecclesiastical does not expect to pay out on BI policies following High Court ruling
Insurer Ecclesiastical has confirmed its business interruption policies are not expected to pay out following a judgment in the Financial Conduct Authority’s High Court test case.
RSA estimates £104m hit from FCA BI judgment
RSA has revealed the additional financial impact of the Financial Conduct Authority test case judgment is £104m, or £85m net of reinsurance.
Hiscox pegs Covid BI claims at ‘less than £100m’ after judgment
Hiscox expects to pay ‘less than £100m’ net of reinsurance towards business interruption claims, the insurer said in an update following a court judgment.
High Court finds in favour of FCA on majority of issues in BI case
The High Court has ruled that the majority of businesses that held business interruption insurance and were forced to close could be entitled to be compensated by the insurers involved in the test case, subject to appeal.
Analysis: Changing tactics - The strategy behind Aviva's aggregator push
In August, Aviva announced that it was aiming to roll out a motor insurance product under its main brand on price comparison websites this autumn.
Covid 'uncertainty' to complicate January reinsurance renewals: Guy Carpenter
Total Covid-19 losses remain an unknown, leading to greater complexities and individual approaches at 1 January reinsurance renewals, Guy Carpenter has cautioned.
Vantage rebrands to Kingfisher as restructure leads to 130 job losses
Vantage Holdings, owner of brokers including Fresh Insurance and Peter James along with managing general agent First Underwriting, has rebranded as Kingfisher Holdings.
Brit names Mark Allan as Lloyd’s syndicate Ki CEO
Brit has appointed Mark Allan as CEO of Ki, its digital and algorithmically-driven Lloyd’s of London syndicate launched in collaboration with Google Cloud this May.
Fresh owners file £25m legal claim against sellers
Kingsfisher Holdings UK, formerly known as Vantage Holdings, has filed a £25m legal claim in the High Court in London over the deal for Fresh Insurance it completed in October 2018.
Aston Lark buys Brunel Professions
Aston Lark has bought professional indemnity specialist Brunel Professions, Post can reveal.
FCA to issue insurance value data measures policy statement this autumn
The Financial Conduct Authority expects to publish a policy statement this autumn following its consultation on compelling firms to report value measures data on most general insurance products.