News
Allianz launches three-tier home insurance product
Allianz has launched a three-tier home insurance product in order to “provide more choice” for customers.
Flood Re’s Andy Bord to stand down as CEO
Andy Bord, CEO of Flood Re, will step down at its annual general meeting in July 2024.
Hardie sees Jensten ‘doubling again’ in next few years
Alistair Hardie, group CEO at Jensten, has said he expects to complete “about 10” acquisitions in 2024, and that he believes the broker can “double the size again” in three or fours years’ time.
LMG hopes to ‘reenergise’ captives appetite after election hold-up
The London Market Group wants to prevail on the next government to advance work on the creation of a UK captives regime as soon as possible, CEO Caroline Wagstaff has said.
Reminder: Claims and Fraud Awards deadline is 14 June
With a deadline of 14 June you have just over a week left to get your entries in for the 2024 Insurance Post Claims and Fraud Awards.
NHS cyber attack highlights dangers of underinsurance
Hospitals across the capital have declared a critical incident after a cyber attack caused operational havoc to medical services.
Home insurance premiums continue climb as motor dips
Pearson Ham’s latest Premium Price Index has revealed that home insurance prices continued to increase in May, while motor decreased slightly.
Ogden to replace Taylor as HDI Global UK&I CEO
Stephanie Ogden has been appointed as the CEO of HDI Global UK & Ireland, effective from September 2024.
Labour repeats call for premium investigations
Shadow transport secretary Louise Haigh has promised to call on the Financial Conduct Authority and Competition and Markets Authority to investigate the cost of motor insurance.
Admiral offers refunds after overcharging ‘small percentage’ of customers
A percentage of Admiral customers have been issued a refund after the insurer identified an error affecting the premium quoted at renewal.
Marsh CEO scores insurers ‘C+’ for innovation
Marsh president and CEO Martin South has said that he would score the insurance industry at best ‘a C+’ for innovation and that market structures are preventing the sector putting client needs first.
Markerstudy and Atlanta deal given FCA approval
The merger between Markerstudy and Atlanta, the personal lines broking business of The Ardonagh Group, has been approved by the Financial Conduct Authority.
Buyers demand greater stability and more forward thinking from insurers
While a softening commercial insurance market may be welcome news to corporate insurance buyers, rate instability leaves insurers’ credibility at risk, Marsh head of risk management placement Cat French has told Post.
NSM buys AllClear owner; Axa’s Uefa partnership; Brown & Brown’s UK retail CEO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
WTW spies SME affinity opportunity following investment ‘gear change’
WTW has invested in its affinity insurance capabilities, with the aim of establishing programmes targeted at SMEs as well as consumers.
Brokers aiming for net zero more than doubles in two years
The proportion of brokers taking steps to achieve net zero has more than doubled in just two years, according to research from Aviva.
Insurance experts propose using IPT to combat premium discrimination
Insurance industry professionals have proposed that the government use insurance premium tax to address the “poverty premium” and “ethnicity penalty” in motor insurance.
Direct Line to shutter motor ownership app after nine months
Direct Line-owned motor ownership platform Caha!, which launched last year, will shut down next month, the insurer has announced.
Kindertons linked with Markerstudy investor Pollen Street
Private equity house Pollen Street has been tipped to purchase accident management and mobility company Kindertons, after a potential deal with Auxillis’s owner fell through, sources have told Insurance Post.
Bartleet aims to be ‘bridge between industry and consumers’
Tom Bartleet, insurance veteran and Liberal Democrat candidate for Suffolk South, has told Insurance Post that he wishes to use his experience to serve his constituents, if elected.
Tribunal slams ‘connected’ leasehold insurance arrangement
A tribunal has ruled that leaseholders in a block of flats were overcharged by 145% after it had “not been presented with one item of documentary evidence to suggest that the insurance premiums for the building are competitive”.
Inflation issues remain despite drop in rate
Speaking at the Insurance Post Claims Club, Allianz’s chief claims officer Graham Gibson stated that the latest inflation figures seen this week will not trickle down to insurance any time soon.
Industry watches as election puts Martyn’s Law passage in doubt
Anticipated legislation targeted at boosting public premises’ resilience to terrorist attacks could now be delayed by the dissolution of parliament ahead of July’s general election.