News
FCA mandates vulnerable customer complaint reporting
The Financial Conduct Authority has introduced the requirement for firms to report complaints involving customers in vulnerable circumstances.
First Central to cut 160 Jobs
First Central is consulting on significantly reducing its workforce and outsourcing roles to its South African office in the new year, Insurance Post can reveal.
Broker calls narratives around cyber insurance availability ‘rubbish’
Narratives about public bodies such as local authorities being outside of cyber insurers’ appetites are outdated, according to Ed Ventham, director at specialist broker Assured.
Domestic & General snapped up by US firm
Domestic & General has been acquired by US-based insurance company Asurion, with the deal expected to close in mid-2026.
Aviva confirms By Miles redundancies
Aviva has confirmed to Insurance Post that members of staff are to be made redundant as a result of it closing down By Miles.
Tougher regulatory oversight causing AR numbers to plummet
Data from the Financial Conduct Authority has revealed the number of appointed representatives active in the insurance industry has sharply decreased, with enhanced oversight potentially to blame.
Insurers boost family policies as board ethnic diversity slips
The number of providers offering family-friendly policies at the end of 2024 rose significantly compared with 2023, while board-level representation of ethnic minority groups has fallen, according to new data from the Association of British Insurers.
Pool Re scheme spurs Axa to include terrorism cover in SME policies
Axa is planning to add terrorism cover to its SME products by the second half of next year, as a result of a Pool Re scheme that will offer insurers “significant” discounts to reinsure SME terrorism risk.
FCA proposes ESG ratings overhaul worth £500m
The Financial Conduct Authority has published a consultation for environmental, social and governance ratings, which is estimated to deliver £500m in net benefits over the next decade.
Carpenters Group open to private equity investment
Carpenters Group is open to private equity investment after over 30 years of bootstrapping, according to director and owner Donna Scully.
Lloyd’s flags softening market concerns
Lloyd’s chief of market performance Rachel Turk has flagged several areas of concern for the market as rates soften “quicker than anticipated”.
Alp’s Acturis product; Tide’s SME cover; Marsh Corporate’s MD
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Carpenters’ Scully urges no government ‘gaslighting’ in whiplash review
Donna Scully, director and owner of Carpenters Group, has called for the government to avoid “gaslighting” the industry in its whiplash review consultation.
Verisk warns of sustained subsidence pressures
Verisk has reported a 244% rise in subsidence claims during the summer quarter.
Insurers target call centre job cuts as tech adoption advances
A report has suggested Allianz Partners is looking to get rid of call centre staff, while Post understands Markerstudy is also considering its call centre personnel numbers over the next few years.
Devilish details from the Autumn Budget for insurers
Insurance Post rounds up the insurance industry’s reactions to the Chancellor’s Autumn Budget, including comments on insurance premium tax, national insurance, and electric vehicle tax.
Budget leak confirms IPT receipts expected to hit £10bn by 2030
An extraordinary leak of the Office for Budgetary Responsibility’s post-budget report has revealed the impact of the autumn budget for insurers, with insurance premium tax receipts expected to hit £10bn by the end of the decade.
Former Tesco Insurance and Saga boss joins Hood Group
Gary Duggan, former CEO of Tesco Insurance, has joined The Hood Group as interim executive chairman after Simon Hood steps into a non-executive director role.
Ifed targets gadget fraud ahead of Black Friday
The Insurance Fraud Enforcement Department, part of the City of London Police, has carried out a week-long operation targeting individuals suspected of making false claims on insurance policies for their gadgets.
Pet insurers under fire for blindsiding vets with VetEnvoy halt
Independent vets claim they were blindsided after Allianz and several pet insurers failed to communicate non-Allianz brands will be removed from digital pet claims platform VetEnvoy, now known as Petios.
Cyber demand grows following high-profile attacks
CFC’s Andy Holmes has told Post the provider has seen increased demand for cyber cover in the wake of high profile cyber attacks this year, while warning the industry “needs to look at itself” over low levels of uptake for the product among businesses.
Aviva to close down DLG’s By Miles
After acquiring Direct Line Group earlier this year, Aviva is closing down pay-per-mile insurtech By Miles, Post can reveal.
CII and FCA warn AI could put vulnerable customers at risk
The Chartered Insurance Institute has unveiled new guidance to help firms better support vulnerable customers, and warned a rush to adopt AI tools risks compounding harm for those most in need.
Property insurance pay-outs hit record £4.6bn
Association of British Insurers members paid out a record £4.6bn in property insurance claims during the first nine months of the year.