News
Eldon could face ‘significantly higher’ fines as ICO launches audit
Eldon Insurance could be faced with fines that are “significantly higher” than the combined £135,000 it and Leave.EU have been ordered to pay if the Information Commissioner’s Office finds evidence of misdeeds in an audit of the broker.
Amazon frontrunner in digital leaders report as Aviva takes insurance top spot
Aviva takes the crown as digital insurance lead, but insurance as a whole is middling compared to other sectors, according to a report.
Nexus sale is 'unlikely' after BP Marsh ups share
BP Marsh increasing its stake in Nexus could mean a rumoured sale of the managing general agent is off the cards, analysts say.
Axa places 59 jobs at risk in claims restructure
Axa is consulting over 59 redundancies across three of its regional offices, as it looks to modernise its claims function.
Eldon and Leave.EU facing combined £135,000 fines by ICO for ‘serious breaches’
Eldon Insurance and Leave.EU are both facing fines of £60,000 for alleged “serious breaches” of marketing regulations, while Leave.EU faces an additional £15,000 fine.
Hiscox reveals $15m spend on Brexit preparations
Hiscox has spent $15m preparing for business after Brexit, the specialist insurer disclosed in its third quarter trading statement.
BBC faces backlash over Arron Banks TV interview
The BBC has defended hosting controversial insurance boss Arron Banks on the Andrew Marr Show on Sunday, following complaints and social media outcry.
Zurich strengthens regional broking team with two key hires
Zurich has appointed two heads of broking as the company moves to strengthen its relationship with regional brokers.
Number of insurtech patents has doubled in the last five years
The insurtech sector continues to grow, with a 40% increase in the number of insurance-related patents, research found.
GRP’s County Group acquires third broker of the year
Swansea-based Douglas Insurance has been acquired by County Group.
Competition watchdog urged to take further action on MFN clauses
Insurers, brokers and price comparison sites have welcomed a Competition and Markets Authority investigation into Compare the Market’s use of a controversial clause that prevents home insurers from offering cheaper prices elsewhere, but brokers argue…
This month: Cavities and complaints
As whiplash legislation speeds through parliament, claims management companies have increasingly been looking into other avenues to keep the coffers full and cavity wall insulation claims have spiked. CMCs may be the industry’s own bugbear, but this…
Medco starts consultation on whiplash portal
Medco has started consulting over the creation of a 'litigants in person' portal on the back of the government's whiplash Bill.
Compare the Market accused of breaking law over ‘most favoured nation’ clause
Compare the Market may have broken the law by preventing home insurers from offering lower prices elsewhere, the competition watchdog has warned.
Thousands of suspected uninsured drivers issued automated warnings every day
An automated data analysis scheme operated by the Motor Insurers’ Bureau and the Driver and Vehicle Licensing Agency is issuing warnings to up to 3000 uninsured drivers every day.
Arron Banks faces criminal investigation over Brexit financing
The National Crime Agency has opened an investigation into Eldon Insurance boss Arron Banks, following a referral from the Electoral Commission.
Former Admiral CEO invests $25 million in flagging Compare
Admiral has reached an agreement with its founder and ex-CEO, Henry Engelhardt and his wife, Diane Engelhardt that will see them invest $25 million in the group’s US comparison website, Compare.
McLarens secures alternative private equity backing
McLarens' largest private equity backer has sold its stake in the company.
Ardonagh sells commercial MGA to Arch for £31m
The Ardonagh Group will sell its commercial underwriting business to Arch for £31m.
Pricing practice changes would put the onus on insurers to charge a 'fair price'
Large insurers with big books of home insurance business could lose out following pricing practices review, but profitability is unlikely to be "heavily dented", ratings agency says.
Revealed: The future of Ed and Besso under BGC
A holding company will be established for Ed and Besso, with Steve Hearn as group CEO. However the two BGC-owned brokers will remain separate companies.
Thomas Miller partners with hospital ship charity
Thomas Miller has launched its new corporate social responsibility programme, with a three-year partnership with the international medical charity, Mercy Ships.
Charles Taylor's tech arm launches grad scheme
Charles Taylor Insuretech, has launched a three-year graduate programme, that will see graduates work across project management, business analysis, service delivery, architecture, data and analytics, and information security.
Government’s ban on combustible cladding insufficient, warn insurers
The government’s ban on combustible materials limited to high rise buildings over 18m is not sufficient and should be considered for a wider range of buildings, insurers have warned.