News
Online delegated authority capacity marketplace aims to slash transaction times
Capacity Place, an online marketplace for insurance programme capacity launched last week, could “massively shorten” the amount of time it takes to initiate and complete programme transactions, according to its CEO Marco Del Carlo.
Brokers call for 'low-level' compulsory cover as e-scooter trials begin
With the UK government ready to introduce e-scooters on the roads from this weekend as part of trials, the British Insurance Brokers’ Association has called for the development of a “low-level minimal insurance requirement."
AGCS embarks on €200m cost-cutting restructure
Allianz Global Corporate & Specialty will look to reduce its global headcount by a further 400 as it embarks on a transformation programme.
GRP expands into healthcare with first buy after Searchlight takeover
Global Risk Partners has bought Premier Choice Healthcare to become its healthcare hub as it moves into the sector.
Lloyd's working on non-damage BI cover for SMEs
Lloyd’s is working on non-damage business interruption cover for SMEs as part of recovery efforts to fast-track global economic and societal recovery from the “far-reaching” impacts of Covid-19.
Gefion liquidation 'no great shock' to brokers
Brokers have labelled unrated Danish insurer Gefion going into run off and ultimately liquidation as “no great shock”.
Motor insurers saved £1.3bn during UK-wide lockdown, claims aggregator
UK motor insurers made lockdown savings of £1.28bn as drivers stayed home between 23 March and 31 May 2020, research by price comparison website Hello-Safe has suggested.
Aon u-turns on salary cuts
Aon will repay colleagues in full, plus 5% of the withheld amount, after cutting the salaries of 70% of its workforce.
MGAs hanker after face-to-face business return
A survey of the Managing General Agents' Association has found that despite the increased use of video conferencing services during the Covid-19 lockdown, managing general agents are keen to get back to face-to-face meetings.
Craig Thornton appointed chair of ABI’s General Insurance Council
Craig Thornton, general insurance and protection director for Lloyds Banking Group, succeeds former Ageas UK CEO Andy Watson as chair of the Association of British Insurers’ General Insurance Council.
Gefion to enter run-off as regulator revokes insurance license
Danish unrated insurer Gefion will enter solvent liquidation as the Danish regulator has chosen to withdraw its license, the insurer has said.
Insurance Covid-Cast: What next for managing general agents?
In the 30th episode of Post and Insurance Age’s video series we gathered together an expert panel to discuss what the future holds for managing general agents.
Aviva, RSA, Munich Re and Zurich discussed using data enrichment to speed up valid claims and flag up potential exaggeration or inflation
Controlling claims costs and satisfying legitimate claimants do not have to be mutually exclusive of one another.
Profits nearly quadruple at Ecclesiastical in 2019
Ecclesiastical delivered £58m in post-tax profit last year, more than treble the £15.2m achieved in 2018, according to a filing at Companies House.
Byrom Clark Roberts to rebrand as Smithers Purslow
As part of the acquisition by Smithers Purslow, Byrom Clark Roberts will rebrand to its owner’s name, using a fresh logo.
Mike Keating appointed MGAA managing director
Former Axa and UK General leader Mike Keating has been appointed managing director of the Managing General Agents’ Association, taking up the role on 8 September 2020.
Insurers accused of ‘dragging feet’ as extra FCA BI September trial dates mooted
Insurers have been accused of "dragging feet" in the Financial Conduct Authority's business interruption test case, as they sought additional hearing time in September to debate on the regulator's use of an analysis by the University of Cambridge to…
Swift v Carpenter: Change needed if costs formula 'no longer fits' purpose, says Personal Injuries Bar Association
If the current formula for calculating serious injury accommodation costs is no longer fit for purpose then it should be improved, the Personal Injuries Bar Association's representative said on the third and final day of the Swift v Carpenter appeal.
Action groups get go-ahead to intervene in FCA BI test case
Groups formed against Hiscox and QBE will “closely liaise” with the Financial Conduct Authority but are not permitted to increase the scope of the test case.
Zego beefs up debt with Triplepoint
Insurtech Zego has taken on additional funds from venture capitalist debt provider Triplepoint.
Biba CEO blasts 'irrelevant' and 'unhelpful' insurer conduct in FCA BI test case
Insurers' comments about the duty of brokers made in the defences in the ongoing Financial Conduct Authority business interruption court case are "irrelevant" and "unhelpful" according to British Insurance Brokers' Association CEO Steve White.
Ardonagh moves forward with $500m notes offering
Ardonagh has placed $500m (£401m) of senior payment in kind toggle notes.
Davies appoints Jeff Chang as general counsel
Davies has appointed Jeff Chang to the recently created global role of general counsel.
Motor Mouth Podcast 14: Motor Mouth Talks Micro Mobility
Join Jonathan Swift, content director at Insurance Post, for this special episode of Motor Mouth as he is joined by an panel of experts including; Chris Moore of Apollo Underwriting, Rob MacKethan of Lime and Jillian Slyfield of Aon to talk all things…