News
Terrorism and political risk threat increases worldwide
Businesses with domestic and international footprints face an increasing threat of terrorism risk as Western countries experience a sharp increase in such attacks, according to risk analysts.
Tech-driven commercial insurance broker Konsileo enters market
Tech-driven commercial insurance broker Konsileo has entered the market and is in the process of recruiting mid-market brokers.
Barbon appoints Mark Witherspoon as non-executive director
Barbon Insurance Group has appointed Mark Witherspoon as non-executive director, subject to the usual regulatory approval.
M&A insurance growth undeterred by Brexit uncertainty, says JLT
The demand for mergers and acquisitions insurance remains strong despite fears that Brexit uncertainty may hinder growth, according to JLT.
Nat cat losses cost insurers over $2bn in March alone, says Aon
Global natural disaster events could impact insurers with a $2bn (£1.6bn) hit over March, according to impact forecasting from Aon Benfield.
Motor premiums have gone up by 9.4% and are set to keep rising
Car insurance has rocketed by 9.4% to an average of £661 and this is set to increase due to the decision to lower the discount rate.
Crash for cash fraudster sentenced to two years
A crash for cash fraudster who staged accidents in Kent has received a two year prison sentence after being found guilty of conspiracy to defraud.
Ping An invests $1bn a year in technology
Chinese banking and insurance group Ping An is investing around 1% of revenue or $1bn (£800m) a year in technology.
Startup Trov secures $45m for expansion efforts
On-demand insurance provider Trov has secured $45m (£36m) of investment for its global expansion efforts.
RMS expands cyber risk models to include physical damage
RMS has expanded its range of cyber models to include cyber physical models to help insurers weigh up the cost of risk.
Plum high net worth home insurance to include cyber cover
Plum underwriting has included cyber and data risks cover into its high net worth and mid net worth home insurance products.
Open GI buys rival software house Transactor
Open GI has acquired rival software house Transactor in a deal valued at £40m.
Lloyd’s confirms Council and Franchise Board appointments
Lloyd’s has appointed Gregory Fleming and Patricia Jackson to the Council of Lloyd’s and the Franchise Board respectively.
Storm Thomas loss estimated at €213m
Perils has made an initial loss estimate for February’s Storm Thomas of €213m (£182m).
Liberty Specialty Markets appoints Alexandra Paton as head of Continental Europe
Liberty Specialty Markets has appointed Alexandra Paton as head of Continental Europe for global financial risks.
Ogden change dents Co-op's full year results
Co-op Insurance made an operating loss of £18m in 2016, despite seeing gross written premiums rise by 15%.
John Ludlow to become Airmic CEO as Hurrell steps down
John Ludlow will replace John Hurrell as CEO of Airmic, to come into effect from 13 June 2017
Penny Black's Social World - April 2017
Hockey, helmets, cakes and pancakes
Lloyd’s faces 'structural revolution' as market challenges drive change, says Macquarie
Lloyd’s will undergo a “structural revolution” as digital innovation and alternative capital sources impact the market, according to Macquarie Research.
CNA Hardy appoints David Legassick as head of life sciences
CNA Hardy has appointed David Legassick as head of life sciences, technology and cyber.
MS Amlin first to go live as Lloyd’s opens India platform
Lloyd’s has commenced operations in India with MS Amlin the first syndicate to begin underwriting from 1 April.
Trade credit claim rise 'no need for concern' experts say
The sharp rise in claims paid to businesses due to non-payment is “no need for concern”, experts have claimed.
Ecclesiastical appoints Andrew McIntyre as non-executive director
Ecclesiastical has appointed Andrew McIntyre as a non-executive director to chair the audit committee of Ecclesiastical Insurance Office and Ecclesiastical Insurance Group.
RSA takes part in study of autonomous vehicle prototype
RSA is taking part in a study of prototype autonomous vehicles as driverless shuttlebuses take to London roads.