News
Lloyd's consortium targets space startups with all-in-one satellite cover
A consortium of 18 Lloyd’s syndicates has announced a $25m-capacity-per-risk space insurance product that seeks to capitalise on a predicted tripling of the size of global space market by 2040.
BBC NED Shirley Garrood no longer a director at Esure
Former Esure deputy chair Shirley Garrood is no longer a director at the insurer, Post can reveal.
Lost property insurtech Found closes in on Seedrs target as it launches in Bristol
Insurtech Found is close to reaching its seed funding target of £250 000 on Seedrs after going live in Bristol a fortnight ago.
Scor launches €300m contingent capital facility
Scor launched a three year contingent capital facility in form of a contingent equity line, providing the group with €300m (£254.6m) coverage in case of extreme natural catastrophe or life events impacting mortality.
Insurtech Wrisk launches 'new type of insurance' with BMW for Mini drivers
Insurtech Wrisk has unveiled the first fruits of its tie up with BMW Financial Services Group and Allianz Automotive by offering all new UK Mini owners three months free insurance underwritten by LV Broker.
Insurers warned to take action to reduce exposure to cyber risk
The insurance sector must take action to reduce exposure to cyber risk and ensure it is future-proofed, according to research.
Bermudian premier David Burt targets innovative insurers
The Bermudian premier David Burt has sung the praises of his country’s insurance market as a “sandbox” for innovative insurers and called on the London market to collaborate on efforts to drive the sector forwards.
Amanda Blanc to join Aviva board
Former Zurich and Axa boss Amanda Blanc is to join Aviva as a non-executive director on 2 January, the insurer has confirmed.
Axa achieves disability confident leader status
The Department for Work and Pensions has awarded Axa UK disability confident leader status.
Trov and Lloyds release renters' insurance app
Insurtech Trov has launched an end-to-end digital renters' insurance application, in partnership with Halifax Home Insurance, part of Lloyds Banking Group.
Foil expands cyber sector focus team to include technology
The Forum of Insurance Lawyers has expanded the remit of its cyber liabilities sector focus team to include insurers’ and law firms’ use of technology in claims handling, as well as claims law related to cyber cover and digital processing.
Aviva’s revival of Norwich Union a one-off
Aviva’s decision to bring the Norwich Union brand back into the public sphere is a one-off with no plans to use it on more “propositions or policies”, the insurer has confirmed.
Cuvva aims to bypass PCWs and brokers as it raises £15m
UK-based insurtech startup Cuvva has raised £15m in series A funding round as it prepares to launch a pay-monthly product at the beginning of next year and disrupt the existing insurance status quo
Finch and ICB set to merge under Verlingue brand
Finch and ICB Group will merge and rebrand under the name of their French parent company, Verlingue.
Cobra’s Alto posts pre-sale loss as costs bite
Alto Insurance, the holding company for Cobra, has reported a pre-tax loss of £2.1m for the final year ahead of its sale to PIB.
A-Plan paid £16.5m for Endsleigh
Broker A-Plan paid Zurich £16.48m for Endsleigh when it completed the deal to buy the specialist broker in March last year.
A-Plan breaks £100m revenue barrier and set to open 100th office
A-Plan will be opening its 100th office within the next two months, CEO Carl Shuker told Post.
This week in Post: hanging by a thread
This week, Transport for London has revoked Uber’s licence to operate in London, causing fear among the capital residents who often rely on the app-based service to get them home safely after a night on the town.
First Central looks to raise external investment to fund “ambitious plans for the future”
First Central Group is seeking external investment which will see its founders reduce their stake in the Guernsey headquartered insurance group, Post can reveal.
Markerstudy restructures loan with QIC
Markerstudy has restructured its £240m plus loan with Qatar Insurance Company in a move the company said was a long-term solution “providing security to customers and suppliers”.
The Insurance Disability, Ability & Wellbeing Network sets out scope ahead of launch
The Insurance Disability, Ability & Wellbeing Network will be officially launched next week to mark International Day of People With Disabilities.
Driving Out Distraction Pledge – Why is IAM Road Smart supporting this campaign?
Neil Greig, director of policy and research at IAM Road Smart, explains why multi-tasking at the wheel is a myth and urges employers to keep their staff safe on the road.
Creditors approve liquidation process for ex-Iprism holding company
The creditors of Spectrum Bidco, a former holding company of Iprism Underwriting Agency, have approved its administrator’s proposals which will lead to the liquidation of the company.
Fitch negative on UK home and motor insurance markets for 2020
Fitch has declared a negative outlook for insurers in the UK home and motor markets in 2020 citing high claims inflation and a weak pricing environment.