News
Longworth’s AI Code of Conduct has a ‘shelf life’
Eddie Longworth’s voluntary artificial intelligence (AI) code of conduct for the claims industry has a “shelf life”.
Aviva’s Blanc plans to further grow GI business
Aviva Group CEO Amanda Blanc expects to further grow the provider’s general insurance business by matching her organisation’s ambition with the Labour Party’s agenda and by deepening relationships with existing customers.
Cost of insuring ground floor flats surges by 42%
The cost of insuring ground floor flats increased most significantly of any property type between April and June this year with premiums climbing by 42% from £178 to £252, according to Compare the Market.
Terror charges for rioters could put insurance claims in doubt
Businesses reeling from damage caused by far-right riots across the UK in recent weeks may have their claims complicated if the perpetrators are charged with terrorism offences.
AI adoption is ‘running before walking’ for Charles Taylor InsurTech clients
Charles Taylor InsurTech’s mature clients are not ready to embrace artificial intelligence (AI), according to CEO Arjun Ramdas.
Cyber insurance tipped to ‘disrupt’ traditional cybersecurity providers
Cyber insurance has an opportunity to excel where other providers of cybersecurity firms have been found wanting, saving businesses time and money, CFC’s Jason Hart has told Insurance Post.
Property insurance payouts hit record quarterly high
Insurers paid £1.4bn in claims for property damage during the second quarter of the year, according to the latest data from the Association of British Insurers (ABI).
Allianz UK spending £400m on change by end of 2025
Colm Holmes, CEO of Allianz Holdings has said the company is spending £200m this year and the same amount again next year on change within the UK business.
Allianz UK profits surge 55%
Allianz UK has reported a 55% increase in operating profit to £174.8m for the first six months of 2024, compared with £112.8m for the same period in 2023.
Pet insurance premiums increase in Q2
Pet owners have seen their premiums increase by 1.4% in Q2, according to data released by Pearson Ham.
Defaqto reveals top car, home, travel and pet insurers
AA, Post Office Money, Virgin Money and Animal Friends have been named by Defaqto as the top providers for 2024–25 across the four major personal lines of insurance.
Axa Retail pinches former RSA claims director
Axa Retail has confirmed the appointment of former RSA personal lines claims director Suzy Tiffany as its claims director.
MGA launches with travel insurance for pre-existing conditions
New travel MGA Gigasure plans to develop travel insurance for those with pre-existing medical conditions.
Claimant’s shaky testimony crashes motorcycle claim
Hastings Direct and HF have seen a £50,000 claim dismissed due to the questionable evidence of the claimant involved.
Insurers expect to pay out about £20m for riot damage
Insurers are likely to have to pay out at least £20m for the damage caused by the far-right anarchy across the UK, prompted by the attack on a dance class in Southport.
Hiscox outlines growth plan for rest of 2024
Marine, energy and retail markets were identified as having great potential to further bolster Hiscox’s profits in the latter half of this year.
QuestGates to invest fresh funding in tech and acquisitions
QuestGates has secured investment from private equity firm Equistone and, according to CEO Chris Hall, is planning to invest the funds in technology and acquisitions.
Aviva’s 200 year old marine offering to re-enter Lloyd’s
Aviva is planning to begin writing marine business in Lloyd’s from the start of next year, the insurer’s head of marine, Howard Potter, has told Insurance Post.
ABI tracker shows quarterly decline in motor premiums
Motor insurance premiums decreased by 2% in Q2 compared to Q1, according to the latest data from the Association of British Insurers.
BCIS green-lights time-saving rebuild cost platform
The Building Cost Information Service has green-lit a platform that uses automation to put together rebuild cost reports in seconds, Insurance Post can reveal.
Jensten’s trio of acquisitions; Aviva’s Glasgow office; Swiss Re’s CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Allianz dispenses musical instrument book to Howden
Howden has agreed to acquire the musical insurance book from Allianz UK.
Co-op Insurance’s Offord addresses Labour’s mutuals aim
Charles Offord, managing director of Co-operative Insurance, said Labour’s aim to grow the number of mutuals operating in the UK is achievable.
FSCS pays out £160m for failed insurers in 2023/24
The Financial Services Compensation Scheme paid out £423m in compensation to customers during 2023/24, with £160m of that going to customers of failed insurers – less than it had predicted.