News
Insurers warn of rise in motor premiums following the discount rate decision
Government changes to personal injury calculations are set to add to motor insurance costs going forward, insurers have warned.
LV's Clare Lunn appointed to head industry's counter-fraud organisation
Exclusive: Clare Lunn, director of fraud at LV, has been selected as a chair of the the General Insurance Fraud Committee.
This week: Rolling in it
Thursday seemed an appropriate day for insurtech Hippo to announce the outcome of its latest funding round – with temperatures reaching 38°C in places, the urge to emulate the mud-wallowing tendencies of its namesake animal became more and more tempting.
Lemonade rival Hippo picks up $100m in latest funding round
Lemonade competitor Hippo has raised $100m in a Series D funding round, led by Bond Capital.
BLM wins fundamental dishonesty case against opportunistic fraudster
BLM has won a fundamental dishonesty case against a fraudster who claimed for whiplash from an accident where she was not in the vehicle.
JLT’s Tim Chadwick to join PIB as CRO
PIB has appointed Tim Chadwick as chief risk officer, following the departure of Jon Stanley.
Go Compare profits continue to fall
Go Compare parent, Goco Group, saw its pre-tax profits fall 52% year-on-year to £7.6m, as revenues from its core price comparison site also slumped.
More than half of global insurtech investment in Q2 came from four deals
Global insurtech investment hit $1.41bn in Q2 2019, with more than half of this coming from four transactions.
Date set for Covéa legal action as Scor CEO hails ‘strong performance’ in H1 2019
Scor’s property and casualty division has seen growth in H1 2019, while legal action against Covéa and its CEO and chairman Thierry Derez will continue in 2020.
Gibraltar regulator on hunt for CEO successor
Samantha Barrass will step down when her second term as CEO of the Gibraltar Financial Services Commission ends in August 2020,
Criminal who stole Audatex data ordered to pay £25,500
Mustafa Kasim, who was sentenced to six months in prison in November for stealing data from Audatex, has now been ordered to pay a confiscation order of £25,500.
FCA flexes muscles over unauthorised claims firm
The Financial Conduct Authority has named a personal injury claims management company as operating without authorisation.
Arron Banks’ Eldon adds appointed representative
Exclusive: Eldon Insurance has made recently incorporated company Lysander Legal Protection an appointed representative.
Confused appoints ex-Wonga exec as COO
Confused has hired Stephen Dukes, former boss at the Commuter Club and Wonga, as its chief operating officer.
Hiscox floats seized ship cover as Iran Gulf tensions threaten premiums
Hiscox has developed a product designed to protect shipping targeted by nation states amid warnings that escalating tensions between Iran and the UK and its allies could lead to higher insurance premiums.
Investment returns drive Beazley half-year profit as it strengthens cat reserves
Beazley saw double-digital premium growth in the first six months of the year, posting a pre-tax profit of $166.4m (£133.9m) largely driven by “exceptional” investment returns.
FCA announces crackdown over treatment of vulnerable customers
The regulator has vowed to “take action” against insurers that do not treat vulnerable customers fairly.
Zurich sees 25% jump in female job applicants
Zurich UK has seen a 25% increase in female applicants since embarking on a part-time jobs initiative.
GRP buys Lancashire-based broker
Lancashire-based broker 3XD has hailed its “growth prospects” after being bought by consolidator GRP.
Axa XL names incoming Europe CUO
Axa XL has appointed Paul-Henri Rastoul as chief underwriting officer of its EU-registered vehicle, XL Insurance Company SE.
30,000 Alpha policyholders to be moved to new insurer
More than 30,000 property policyholders affected by the collapse of Alpha have been thrown a lifeline in the form of alternative cover arranged by the Financial Services Compensation Scheme.
Half of industry growth over next five years to be driven by M&A, say insurers
A majority of insurers believe that mergers & acquisitions will drive more than half of the growth in the industry over the next five years, research by Deloitte has found.
This week: Gaukward moment for insurers following Ogden change
It was around Spring when office chat turned to the trend of insurers bolstering full year accounts through claims reserve releases.
Insurers attack 'misleading and wholly disingenuous' discount rate impact assessment
The impact assessment issued to parliament in relation to Lord Chancellor David Gauke’s decision to set the discount rate at minus 0.25% has been called “misleading and wholly disingenuous” by Huw Evans, director general of the Association of British…