News
Insurtech Gateway targets up to £30m of investments with insurer fund
Incubator Insurtech Gateway has launched a new investment fund today backed by insurance companies that is aiming to raise and inject up to £30m in start-ups between now and 2023.
Flood defences save UK £1.1bn a year
Inland flood defences reduce river flood losses by 63%, saving the UK £1.1bn annually on average, according to a recent study.
CII launches historic website as Insurance Museum project gathers momentum
Exclusive: The working group looking into the feasibility of an insurance museum in the Square Mile has rejected the idea of hosting exhibits within the new Museum of London in favour of a stand-alone site, should there be enough interest.
Developer working with insurers after Barking fire
Housing developer Bellway Homes is working with insurers following a fire that destroyed 20 flats and damaged a further 10 in Barking.
Lemonade launches in Germany
New York-based insurtech Lemonade has launched in Germany.
Four claimants found fundamentally dishonest in an 'unusual' casualty case
Four claimants were found to be fundamentally dishonest and ordered to pay back costs of £22,000 following an investigation into their casualty liability claim by Allianz and DAC Beachcroft.
Stubben Edge looks to growth after £1.2m investment led by Saracens chairman
Exclusive: Tech firm and managing general agent Stubben Edge is seeking growth after a £1.2m raise led by Saracens chairman Nigel Wray and analyst Eamonn Flanagan.
Three crash-for-cash fraudsters jailed following incident in Coventry
Three men have been jailed after an investigation led by the City of London Police Insurance Fraud Enforcement Department found they had carried out a ‘crash for cash’ plan on a motorway slip road in Coventry.
Lemonade begins hiring for potential Europe expansion
Exclusive: US-based insurtech Lemonade is looking to hire staff in a Europe office in Amsterdam, marking a potential international expansion for the firm.
FCA issues warning over clone broker
A clone broker is operating under the name Wentworth Insurance Brokers, the Financial Conduct Authority has warned.
Claims manager appointed to handle Lamp Insurance claims
Quest Group has been appointed to manage claims for policyholders of failed Lamp Insurance.
Analysts cautiously welcome Aviva cost-cutting plans
Aviva’s plans to cut more than a tenth of its current cost base have been welcomed by analysts.
Two out of five brokers have never sold a cyber policy
Two out of five brokers have never sold a cyber policy, owing to both a lack of confidence and customer reluctance, research found.
This month: Insurance’s Black Thursday?
'Dark clouds over Norfolk'; 'Perth reacts to job losses'; 'Staff don’t know anything'; those were snippets of headlines from local newspapers this week in reaction to Aviva’s plans to cut 1800 jobs.
Crawford boosts senior team with Axa and Zurich hires
Crawford & Company has bolstered its client relationship function with a trio of senior hires from major insurers.
Insurers call for compulsory sprinklers in schools
Automatic fire sprinklers should be compulsory in all new build schools, insurers have warned.
Travel premiums down despite claims rising to £400m
Travel insurance premiums are down despite claims costs rising to £400m in 2018, according to research by the Association of British Insurers.
Brightside MGA Kitsune passes 10,000 policies and is on-track for GWP target
Brightside managing general agent Kitsune Associates passed 10,000 policies sold last month and is on-track to meet its first year gross written premium target, according to managing director Trevor Bowers.
Lawyers issue warning over fixed recoverable costs proposals
Extending Fixed Recoverable Costs could lead to claimants playing the system, lawyers warn.
128 jobs on the line as Allianz shutters Bristol office
Allianz has placed 128 roles at risk of redundancy as it announces the closure of its Bristol claims handling centre.
Premium Credit appoints ex-Wonga boss Tara Waite as CEO
Premium Credit has appointed Tara Waite as CEO, replacing Tom Woolgrove.
Landmark court ruling could lead to surge in motor premiums
Exclusive: Motor insurance policyholders could see their premiums increase as a result of a six year landmark case against Motor Insurers’ Bureau.
Revealed: Unrated Gefion claws back solvency ratio after year of losses
Exclusive: Danish unrated insurer Gefion took out a further chunk of reinsurance and injected capital, after its solvency ratio plummeted to 72% in 2018.
Incoming Airmic chairman warns buyers may need to turn to alternatives to insurance
Insurance buyers will need to watch what they spend on insurance and potentially seek out alternative mitigation strategies if the market hardens, new Airmic chairman Tim Murray has warned.