News
Cost of Hurricane Michael could hit $21bn including up to $10bn of insured losses
A week on from Hurricane Michael making landfall in Florida, estimates of the cost of the are beginning to emerge, running to as much as $21bn (£16.25bn).
Ex-Validus director of strategy John Hendrickson appointed Starstone CEO
Global specialty insurer, Starstone have announced that they have appointed John Hendrickson as group CEO.
FCA broadens ombudsman service to SMEs
The Financial Conduct Authority has announced its plans to broaden the Financial Ombudsman Service to benefit smaller SMEs.
Insurers ask for two more years to implement IFRS 17
Insurance associations from around the world are asking for a two-year delay in the implementation of the International Financial Reporting Standard 17 for insurance contracts.
Ex-Ingenie CEO King reunites with Lineker to launch Munich Re-backed insurtech Ticker
Former Ingenie founder and CEO Richard King has teamed up with Munich Re Digital Partners to launch a new telematics motor provider Ticker in the new year.
Applied gets ‘nine figure’ investment from Google VC
Applied Systems has secured a “nine figure” cash injection from a Google investment firm in a move that will further drive growth at the company.
UK insurers in talks to tackle mobile use while driving
Several UK insurers are in discussions over the possible adoption of a device that blocks the physical use of a phone by the driver in a moving vehicle.
IUA reports London company market growth of 16%, largest seen for five years
The total premium either written or controlled by the London company market has risen to £26.31bn – a 16% increase – according to the International Underwriting Authority's new statistics report.
Updated: Ardonagh sells Direct Group's claims businesses to Davies
The Ardonagh Group has agreed to sell Direct Group’s claims businesses to loss adjuster Davies for up to £36m.
Ex-Ageas CEO Barry Smith appointed LV NED
LV has appointed Barry Smith as senior independent director, subject to regulatory approval
Evolving technology makes cyber risk pricing ‘challenging’ to predict
The rate at which technology is evolving makes it difficult to predict cyber risk pricing, members of the press heard at a conference in Las Vegas.
Bureau Veritas unveils holographic training aid
Bureau Veritas has unveiled a new training aid using mixed reality technology that could drastically reduce training time on large industrial boilers.
Brokers shouldn’t fear job losses through AI
Brokers don’t need to fear job losses through automation, a conference heard.
GDPR filings a potential parametric insurance trigger
General Data Protection Regulation filings could be used as a potential trigger for payouts from cyber parametric insurance policies, a conference heard.
Regulators consult on impact of climate change on insurers
The Prudential Regulation Authority and Financial Conduct Authority have both invited insurers to respond to consultation papers on the impact of climate change on their operations and investments.
Cincinnati acquires Lloyd’s syndicate from Munich Re
Cincinnati Financial has reached an agreement to acquire Munich Re subsidiary MSP Underwriting for £102m – a deal that we see them enter the Lloyd’s market for the first time.
Insurance industry better equipped to deal with Storm Callum claims after 'significant effort' to implement resilient repairs
As the clean up operation starts following Storm Callum this weekend experts have said the insurance industry is better equipped to deal with flood claims than previous years due resilient repairs and better communication.
Marine mutuals The Strike Club and The Standard Club to merge
Marine delay insurer, The Strike Club, has announced plans to merge with fellow mutual marine insurer The Standard Club group.
Most downloaded content by insurers using Insurance Hound during August and September
Brexit, regulation and loyalty catch the eye of insurers.
Motor insurance premiums could reach 'new highs' as Brexit uncertainty drives first motor insurance rise in a year
Following four consecutive quarter-on-quarter price cuts motor insurance premiums have risen by an average of 1% for quarter three of 2018 according to the latest Confused car insurance price index – in association with Willis Towers Watson - amid…
This Week in Post: Boing! It’s the executive magic roundabout
The last few months have seen some major executive changes across the UK’s largest insurance companies.
Less than a third of Lloyd’s brokers using PPL
Exclusive: Fewer than a third of the brokers that operate through Lloyd’s are signed up for Placing Platform Limited.
Swinton CEO departs following Ardonagh acquisition
Gilles Normand has stepped down from the CEO job at Swinton following its acquisition by Ardonagh.
Stackhouse Poland acquires legal indemity broker
Stackhouse Poland has acquired a Hertfordshire-based legal indemnity broker.