News
Marsh and Aon call for lifting of Ukraine exclusions
The world’s two largest insurance brokers have urged for the removal of blanket Ukraine exclusions in order to aid the country’s reconstruction efforts.
Esure claims 20mph speed limits could cut insurance costs
The average driver could be looking at a £50 saving per year on their car insurance premium if 20mph zones were rolled out in towns and cities across the UK, according to Esure’s chief customer officer Peter Martin-Simon.
Court of Appeal upholds key Covid BI judgment
The Court of Appeal has confirmed that hundreds of thousands of businesses with ‘at the premises’ disease cover are entitled to claim for Covid losses, dismissing appeals brought by insurers.
How fraudsters’ fake documents and images are challenging insurers
Fraud trends have moved on since the pandemic and now insurers face the challenge of tricksters who generate fake documents and imaging, insurance professionals gathered at the Verisk Insurance Conference in London were told yesterday (5 September).
Aviva’s cyber partnership; Clear buys Accelerate; Bupa's insurance CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Verisk boss urges testing of AI data to avoid discrimination and bias
Verisk’s head of analytics for underwriting solutions has told the industry to use broad and representative data sets to avoid “disparate outcomes and unfair discrimination” when developing AI models.
Esure identified ‘200 customer pain points’ during IT overhaul
Esure CEO David McMillan revealed his team identified numerous issues with the way the insurer, as well as the wider market, operated during its recent digital transformation overhaul.
London market has a ‘cost problem’
The London market is weighed down by a cost problem, and will struggle to provide the best solutions for clients unless it pushes forward with a digital-first approach, a Marsh digital leader explained.
Lloyd’s CEO predicts no changes to current pricing cycle
Lloyd’s CEO John Neal has said he expects current insurance pricing conditions to persist, dismissing suggestions of imminent widespread softening of rates.
Police warn insurers about uptick in deepfake fraud
Detective Chief Inspector Tom Hill, head of unit for the Insurance Fraud Enforcement Department at the City of London Police, has warned audio and visual manipulation enabled by technology, also known as deep fakes, is a major growth area for insurance…
Lloyd’s CEO hails ‘superb’ first half of 2024
Lloyd’s has today announced an overall profit before tax of £4.9bn (HY 2023: £3.9bn) for the first six months of 2024.
Zurich and Marsh McLennan call for partnership to tackle cyber risk
Zurich and Marsh McLennan are calling for public-private collaboration and recovery mechanisms to be put in place to strengthen society’s cyber resilience.
Direct Line ‘turnaround underway’ as insurer returns to profit
Direct Line Group has returned to profit after shedding almost 488,000 motor customers in the first half of this year.
Norgrove aims to ‘dial up the voice of the SME’ in ABI role
RSA UK CEO Ken Norgrove has said he wants to use his new role at the Association of British Insurers to help small and medium-sized businesses “get their voices heard”.
Zurich creates climate alliance after ditching NZIA
Zurich has created the Zurich Climate Resilience Alliance, 17 months after exiting the United Nations Net Zero Insurance Alliance.
RSA’s Norgrove named ABI deputy president
Ken Norgrove, CEO of UK & International at RSA Insurance, is the new deputy president of the Association of British Insurers.
Simply Business CEO Thomas to head up Ripe
Alan Thomas, CEO of Simply Business is set to replace Paul Williams as CEO of Ripe and has been tasked with powering the "next phase" of growth.
Esure to ‘soft-launch’ multi-product policy in 2024
Esure CEO David McMillan has shared how he hopes to grow the firm by expanding its reach in multi-product insurance.
Vet nurse bitten for £13K pet insurance fraud
A veterinary nurse has been sentenced after making more than £13,000 worth of fraudulent insurance claims to Allianz for her pets using the systems at her workplace.
Aon UK names Kemp as head of commercial risk
Rob Kemp has been appointed as Aon’s new head of commercial risk for the UK, stepping into the role UK CEO Jane Kielty had left vacant.
Aviva targeting ultra-HNW growth following acquisitions
After completing the integration of the Azur and Axa XL private clients’ business, Aviva’s managing director for high net worth Ann Owen has said the insurer is looking to grow, but not “at any cost”.
Top risk for UK businesses; WTW’s latest launch; Lloyds Bank’s head of insurance
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Carbon neutrality in home repairs to cost £9.8m
Carbon neutrality in UK domestic property claims repairs would cost the industry £9.8m, according to Sedgwick.
Pet insurance complaints hit five-year high
The latest Financial Ombudsman Service complaints data for Q1 has been released, revealing that pet insurance complaints have hit a five-year high.