News
Talk Talk reveals cyber attack cost but stays on track for financial targets
Talk Talk is aiming to hit its fiscal targets for 2016, set before last month’s cyber attack on the telecoms company.
Rutter to fight rising court fees after becoming twentieth Foil president
DAC Beachcroft partner Duncan Rutter has vowed to maintain access to justice and improve the claims process after today (12 November) becoming the twentieth president of the Forum of Insurance Lawyers.
Beazley chalks up 6% premium growth in opening nine months
Beazley CEO Andrew Horton has heralded his firm’s strategy of targeting attractive opportunities in a highly competitive market after delivering premium growth of 6% to $1.64bn (£1.08bn) in the first nine months of 2015.
GB Underwriting snaps up UK property book from Kay International
GB Underwriting has acquired Kay International’s portfolio of UK property business in a deal that is billed as a “significant enhancement” to the independent managing general underwriter’s properties insurance capabilities.
Flood Re one step closer with regulations signed
Flood coverage for high risk properties is one step closer today (11 November) with regulations for Flood Re coming into force.
LMA starts new committee to focus on CROs
The Lloyd’s Market Association has set up a new committee of chief risk officers to examine best practice and promote high technical standards among CROs.
Bexhill launches broker-funded direct finance model
Premium finance provider Bexhill has launched the market's first broker-funded direct premium finance facility.
Long road to digital success for insurers, Accenture survey finds
Improving customers’ experience is a top priority for insurers but most are failing to stand out from the crowd online, according to a survey of industry leaders.
DAS Law confirms Christacos as permanent MD
Acting head of DAS Law James Christacos has been confirmed as permanent managing director of the business.
Tasker hires Herdman as NED
Tasker Insurance Group has appointed former Oval group managing director Jeff Herdman as non-executive chairman.
Motorsports specialist Ellis Clowes acquired by Integro
Lloyd’s sports and hostile territories specialty broker Ellis Clowes has been acquired by US-based broker Integro.
Household premium falls continue but tax rise could see reversal
Home insurance premiums are continuing to fall with the average price dropping 5.8% to £114 in the year to September, according to research from Consumer Intelligence, but a reversal could be on the cards.
Keychoice unveils new leadership team amid growth plans
SSP’s distribution business Keychoice has recruited staff from BGL Group, Marsh and Swinton to form a new team as it launches the next phase of its growth and evolution plan.
Novae CEO Fosh confident for Q4 despite softening market
Novae Group CEO Matthew Fosh believes the specialist Lloyd’s player is “well positioned” for the final quarter, despite a softening rating environment, after achieving a 20.3% uptick in gross written premiums over the opening nine months of 2015.
Fraud specialists urge importance of mutually beneficial IFB affiliate model
Fraud experts have urged the Insurance Fraud Bureau to ensure its proposed affiliate membership model is mutually beneficial to existing and prospective members and that data security sits at the heart of the initiative.
RAC to provide breakdown products to Eldon policyholders
Eldon Insurance has teamed up with the RAC in a partnership deal that will see the latter provide a range of breakdown products to Eldon policyholders.
Esure GWP rises 5% at nine month stage as rating actions bed in
Positive rating actions and footprint expansion in home and motor lines of business have seen Esure increase gross written premium by 5% to £430.5m in the first nine months of 2015 (9M 2014 £410m).
Penny Black's Social World - 12 November 2015
All the latest online news
Penny Black's Insurance Week - 12 November 2015
A policy renewal letter ‘sent in error’ has given national newspapers the opportunity to partake in one of their favourite activities – bashing insurance companies.
Zurich's commercial broker business admits it was 'difficult to trade with'
Zurich's commercial broker division has admitted it was previously "difficult to trade with" with too many contact points and hand offs around its specialist teams.
Brokers expect to benefit from Zurich's cost-cutting programme
Zurich’s decision to implement a cost-cutting initiative that will result in up to 440 UK redundancies has been welcomed by brokers who believe that removing a layer of management will produce tighter relationships with regional branches.
Global insurance leaders back inaugural Insurance Careers Month
Lloyd's CEO Inga Beale is one of several global insurance players to pledge their support to the inaugural Insurance Careers Month to be held during February 2016 in the US.
FCA approves Osprey takeover
The Financial Conduct Authority has approved Thomas Miller's proposed acquisition of Osprey Holdings, the parent company of Osprey Underwriting Agency.
LMG welcomes start of ILS legislative process
The government has tabled an amendment to the Bank of England and Financial Services Bill seeking power for the Treasury to make regulations facilitating and regulating insurance linked securities (ILS) business, a move welcomed by the London Market…