News
2018 catastrophe loss levels are the new norm: Air Worldwide
The industry can expect to be hit with on average $92bn (£74.5bn) in insured losses from catastrophes annually going forward, according to catastrophe modeling firm Air Worldwide.
Institute and Faculty of Actuaries ordered to pay £38,000 in ‘direct discrimination’ case
Exclusive: The Institute and Faculty of Actuaries is considering appealing against a ruling, after an employment tribunal decided it must pay nearly £38,000 to a Zurich employee after it “directly discriminated” against him.
Charles Taylor to sell managing agency as it posts £2.1m loss
Charles Taylor saw a pre-tax loss of £2.1m as the group announced the sale of its managing agency to Premia Holdings.
Lloyd's prepared to 'hang' perpetrators of bad behaviour after sobering culture survey
Lloyd’s of London chairman Bruce Carnegie-Brown has said that the results of the specialty insurance market’s culture survey are “sobering” and that it won’t hesitate to make an example of perpetrators in order to stamp out bad behaviour.
Robin Thomson appointed Tasker MD
Robin Thomson will target acquisitions in his role as Tasker Insurance Brokers managing director.
Thatcham publishes guidelines for autonomous vehicles
Thatcham has published guidelines to help transition vehicles from assisted to automated driving.
Blog: Post trials a driverless car
Driverless technology will shape the future of motor insurance. Thatcham offered Post the chance to trial a driverless car at a test track in Nuneaton, and see how the technology will change over the next six years.
Ex-Allianz CEO joins Cuvva
Exclusive: Former Allianz Partners UK and Ireland CEO Serge Corel has joined Cuvva as director of partnerships, following the insurtech’s move into travel insurance.
Zego and DLG challenger bank partner inks distribution deal with further insurtech
Mobile-based Starling Bank has added a further broker and cyber risk service to its marketplace.
Marsh Networks to rebrand
Exclusive: Marsh Networks will rebrand as Marsh Commercial Networks.
Jelf to rebrand as Marsh Commercial amid restructure
Marsh will rename its Jelf business Marsh Commercial in the first quarter of 2020, with potential branch closures as a result of an organisational restructure.
Insurance stalwart David Palmer passes away
David Palmer, a well-known industry figure in the 80s and a past master of the Worshipful Company of Insurers has died. He was 92.
Gefion faces further recapitalisation delays
Danish insurer Gefion has further pushed back its expected timeline for a capital injection in the business, following an order by the regulator that it cannot expand into further territories until it bulks up its coffers.
CII launches online personal lines course
The Chartered Insurance Institute has developed a web-based course, focusing on personal lines insurance.
Guy Carpenter senior boss fired over 'glazed ring' incident
James Conmy, senior VP for marine and energy at Guy Carpenter, has been fired for gross misconduct after sending a team email that contained sexually suggestive comments about a female member of staff.
Nexus appoints ex-Aviva boss to its board
Nexus Group has appointed Andrew Moss as an independent non-executive chairperson on the Nexus Underwriting Management main board as part of its strategic growth plan.
David Priebe appointed as Guy Carpenter chairman
Marsh sister company Guy Carpenter has appointed David Priebe as chairman, effective immediately.
Government consults on compulsory sprinklers for shorter high-rises
The government has proposed reducing the building height over which the installation of sprinklers are mandatory from 30 metres to 18 metres.
This month: A long road ahead
It’s been a topsy-turvy month in Parliament and this week a bill was passed by MPs aiming to block a no-deal exit from the European Union. But as the UK continues to face uncertainties over Brexit, across the pond this month we saw scenes of destruction…
Insurer admits graduate's £61,000 'Mickey Mouse degree' pay-out was an oversight
Anglia Ruskin’s insurer has apologised to the university, after an “oversight” by solicitors meant a graduate was paid £61,000 over her “Mickey Mouse degree” claim without the insured being consulted.
FCA delays publication of dual pricing market study report until October
The publication of the hotly-anticipated interim report on the Financial Conduct Authority’s market study of general insurance pricing practices that was expected this summer has been delayed until October.
Hurricane Dorian estimated to have inflicted $7bn of damage in the Bahamas
Hurricane Dorian inflicted $7bn (£5.7bn) worth of insured and uninsured damage in the Bahamas, catastrophe modelling firm Karen Clark & Company has estimated.
Government extends Medco for small RTA claims
The industry has welcomed the government’s response to a consultation into the future provision of medical reports.
Gallagher acquires lettings and landlord specialists RGA Group
Gallagher has acquired RGA Group, a lettings and landlord broker based in Brentford, marking a return to acquisitions eight months on from its acquisition of Stackhouse Poland.