News
Discount rate cut could triple PI claims costs: Marsh
Changes to the personal injury discount rate could increase the cost of personal injury claims by as much as three times, according to Marsh.
11 more insurers join automated subrogation platform
Validus has added 11 insurers to its Verify subrogation portal community following Aviva and Ageas going live on the platform in 2016.
Top UK insurers revealed to use unsafe credit card practices
A secret shopper survey has found a majority of insurers have potentially unsafe practices over credit card data.
Post People 27 - 31 March
Check out this week's movers and shakers.
Payouts for employers’ and public liability claims 'significantly' climb
Insurance payouts for small employers’ and public liability personal injury claims have increased significantly over the past two years, climbing to an average value of nearly £4,000 by the end of last year.
Nelson: Regulatory burden hampers Solvency II
The regulatory burden imposed upon insurers by Solvency II hampers a fundamentally good regulatory framework, Lloyd’s chairman John Nelson has said.
Eight out of 10 financial services firms to increase cyber security spending
Eight out of 10 financial services firms expect to invest in preventative technology and IT systems over the next year.
Seventeen Group buys Dumfries broker
Seventeen Group has acquired Westscott Insurance Brokers for an undisclosed sum.
Markel hires marine liability underwriter in Singapore
International (re)insurer Markel has hired a senior marine liability underwriter for its Asia-Pacific operation
Over one third of insurance jobs at risk from robots
Artificial intelligence could place more than a third of jobs in the UK financial and insurance sectors at high risk, according to a report from PWC.
Brokers outline reasons for leaving SSP
Brokers that moved from SSP to a rival software house have spoken about their reasons for leaving.
Prudential CEO pay drops 30% in 2016
Prudential CEO Mike Wells' pay fell by a third to £6.9m 2016, the insurer's annual report has shown.
This week in Post: highs, lows and running with the wolves
It has been a week of highs and lows in our household. My son went on his first Cub sleepover and earned the honour of becoming a Sixer. I, meanwhile, returned to the X-ray machine.
Towergate promotes Erotocritou to deputy chief financial officer
Towergate’s Antony Erotocritou has been promoted from underwriting finance director to deputy chief financial officer.
Half of motorists expect premiums to rise at renewal
Almost half of drivers expect their premiums to rise at their next renewal, with one in 10 planning to stop driving if costs go up by £500 a year.
Insurance law firms 'dramatically' losing business
Law firms are seeing a ‘dramatic’ fall in business as a result of changes to the way the insurers they support operate.
Ping An's profit climbed 15% last year
Shenzhen-headquartered insurance and banking group Ping An saw its net profit rise 15.1% in 2016 compared with the previous financial year.
Fake emails circulating in FCA's name, watchdog warns
The Financial Conduct Authority has warned against a fake email being sent out under its name.
Esure CEO to get £1.47m share package by 2020
Esure CEO Stuart Vann will gain options over company shares worth £1.47m as part of an executive incentive deal.
CIBA: Insurers need to offer more comprehensive cyber policies in time for GDPR
New methods of hacking and types of cyber breach could lend themselves to greater fines following the incoming General Data Protection Regulation.
Former QBE Europe CEO Burns named Novae non-executive director
Novae has appointed Steven Burns as an independent non-executive director, to take effect from 31 March 2017.
CIBA: Cyber policies are evolving to meet expanding risks
Cyber policies are evolving to cover more risks but certain exposures remain underpriced, Allianz has warned.
VIG P&C business returns to profit
The Vienna Insurance Group has seen its property and casualty business return to profit after suffering a hit last year.
LMA adds five to board
Five C-suite level executives have been elected to the Lloyd’s Market Association board.