News
Digital Fineprint closes $4m funding round, with insurtech Cuvva tipped to raise next
Digital Fineprint has become the latest UK-based insurtech to announce a significant fund raising round after unveiling a $4m (£3.2m) investment at Insurtech Connect in Las Vegas today.
Lloyd’s unveils further measures to tackle market culture amid ‘sobering’ survey
Lloyd’s has today revealed six additional measures it will take to improve culture at the market, after a survey labelled “sobering” by its chairman Bruce Carnegie-Brown.
Nearly one in ten workers saw sexual harassment at Lloyd’s over the last year
Lloyd’s CEO John Neal said he was “appalled” by Lloyd’s culture survey results, as the results show 8% of workers claim to have witnessed sexual harassment in the market in the last 12 months.
Government issues warning over use of AI in insurance pricing
The rise of artificial intelligence and big data could create a new class of ‘uninsurables’ in society, a government task force has warned.
Insurers respond following Thomas Cook collapse
Insurers have responded following the failure of Thomas Cook in the early hours of this morning, which has prompted the largest peacetime repatriation in British history.
Thingco and Freedom Services Group enter JV
Thingco has entered a joint venture with Freedom Services Group, to form Pukka Tech.
This week: A diamond in the grind
In just over a fortnight I will be leaving the world of insurance, after 42 months in the job and almost twelve hundred bylines under my belt. Here’s what I’ve learned.
Insurers confirm ‘ongoing commitment’ to work with inquiry on child abuse claims
Insurers have welcomed the “thoroughness” of a report published by the Independent Inquiry into Child Sexual Abuse and have committed to working with it on its recommendations.
Child abuse inquiry slams ‘hostile, baffling, frustrating and futile’ claims process as it pushes for insurer action
Setting up a register of public liability policies, revising damages and ensuring there is a claims code of practice are among a number of recommendations the Independent Inquiry into Child Sexual Abuse has made in a report published today.
Ecclesiastical UKGI MD John Blundell to retire
Ecclesiastical UK general insurance managing director John Blundell will retire from the role next year.
PE house swoops for Charles Taylor in £261m deal
Private equity firm Lovell Minnick Partners has made a £261m offer to buy Charles Taylor, with an aim to de-list it.
Brexit preparations slow as deadline draws near
Financial services firms have slowed down or paused their Brexit preparations, but "significant work" still remains over business transfers, EY has warned.
Saga reports surge in fixed priced policies as insurance margins shrink
Saga has warned of lower margins in insurance even as it saw a surge in its fixed price policy product, which was launched in the wake of backlash against industry dual pricing practices.
Lloyd's execs encouraged by more disciplined underwriting
Lloyd’s is beginning to see the green shoots of improved underwriting thanks to stringent business planning measures, executives have said following the market’s interim results.
Ageas and Ardonagh’s Uris extend deal with £200m contract
Ageas has signed a four year contract with Uris Group to provide cover for a number of specialist personal and commercial lines risks.
GFSC reveals incoming CEO as Samantha Barrass bows out early
Samantha Barrass had been set to serve her terms as Gibraltar Financial Services Commission CEO until August 2020, but the regulator’s incoming CEO will now take over at the start of next month.
Lloyd's posts £2.3bn first-half profit driven by investment income
Lloyd’s recorded pre-tax profits of £2.3bn in the first six months of 2019, with strong investment returns offsetting a year-on-year deterioration in underwriting profitability.
Inshur appoints former Uber boss
Inshur has appointed Simon Logan, former RSA and Uber legal boss, as VP of commercial and legal.
Sex discrimination a 'significant' insurance issue as claims and payouts increase
#MeToo is becoming a “significant” industry issue as harassment and discrimination claims rise, while in some countries the surge means claims are moving outside of traditional employment practices liability insurance, lawyers have warned.
Claims Consortium completes acquisition of Stream
Claims Consortium Group has completed its acquisition of Stream Claims Services.
Ed hires Simon Stovell as divisional director
Simon Stovell has joined Ed as divisional director for its risk solutions team.
Insurtech Inshare targets SMEs to corporates with peer-to-peer launch
Insurtech Inshare is seeking to bring peer-to-peer risk and insurance management to the commercial community as it gears up to launch ahead of the Insurtech Connect event in Las Vegas next week.
Lamp liquidator disclaims further policies
Lamp Insurance’s liquidator has disclaimed health and guaranteed asset protection policies supplied through two brokers.
Keoghs swoops for Newcastle firm’s insurance practice
Keoghs has bought Newcastle-based Sintons’ defendant insurance business.