News
Autofocus employees sentenced to over five years for fabricating evidence
Seven former employees of Autofocus have been collectively sentenced to over five years after being found guilty of doctoring hire rate evidence to defend insurers in court.
No Brexit deal 'not acceptable' says ABI
Leaving the European Union without a deal is not acceptable if insurers are to continue to meet the needs of customers and remain legally compliant, the Association of British Insurers, will warn today.
New Zealand to increase EQC cover; Kaikoura claims hit NZ$1.84bn
New Zealand government reforms propose to increase insurance coverage for the state-backed Earthquake Commission scheme to NZ$150,000 (£86,000) from NZ$100,000.
Lloyd's to submit Brussels structure in September
Lloyd’s of London will submit a formal application for its Brussels hub structure in September, the corporation's CEO has said.
Lloyd’s to shed one in 10 jobs in cost-cutting drive
Lloyd’s of London is to strip headcount by 10%, roughly equivalent to 70 staff, as the corporation continues to tackle costs.
UK needs EU transition deal to prevent business failures: Euler Hermes
A transition deal on goods and services between the UK and the European Union is needed to prevent a sharp rise in UK business insolvencies in 2019, according to Euler Hermes.
Insurance adds £40bn to UK economy
The insurance and long term savings sector adds more than £40bn to the UK economy, new analysis shows.
Direct Line hit by unexplained IT outage
Direct Line’s online services suffered IT issues this weekend, leaving customers unable to renew their policies and thereby drive to work.
Law firms collaborate on global network
A group of insurance law firms have joined together to create a formal network to share knowledge and delivering legal expertise and service clients across four continents.
FCA seeks input on how to help vulnerable insurance customers
Insurance customers are increasingly finding it difficult to navigate the market, the Financial Conduct Authority has warned.
Axa appoints Bouas-Laurent as Hong Kong CEO
Axa Asia life CEO Etienne Bouas-Laurent will become Axa Hong Kong CEO on 1 September.
Expanding ICT sector brings more risks to Asia-Pacific
A booming information, communication and technology sector is heightening risks across Asia-Pacific according to an Insurance Post whitepaper in association with QBE.
Mayes swaps Cunningham Lindsey for McLarens in Australia
Global loss adjuster McLarens has recruited Paul Mayes from rival Cunningham Lindsey.
Long-awaited Hong Kong insurance regulator begins
The Insurance Authority has taken over regulating the insurance market in Hong Kong today.
New solution to allow customers to buy additional policies through Amazon Echo
Software provider CDL has integrated its retail solution, Strata, with Amazon Echo's Alexa bot to allow customers to change and check their insurance policies via a conversation with the robot.
This Week in Post: The Queen's Speech, whiplash and a year on from Brexit
As Her Majesty the Queen delivered her all-important speech to open parliament, insurers had a lot to think about.
Towergate group company to launch under new brand name
The insurance giant created from Towergate and other companies is set to relaunch under a new name and branding, following the completion of a £800m bond offering.
R&Q sells Lloyd's managing agency to Coverys
Randall & Quilter has sold its Lloyd's managing agency, R&Q Managing Agency, to Coverys, a US-based medical professional liability insurer for $22.6m.
MSIG promotes 'pay how you drive' in Singapore
Japan-headquartered insurer MSIG has launched a telematics car mobile app in Singapore based on driving behaviour.
Data analytics will impact property underwriting but could lead to 'uninsurable' properties
Increased analytics and data capturing will be integral to the future of underwriting global property but could lead to uninsurable properties, insurers have said.
ABI previously warned government over hazards of flammable cladding
Exclusive: The Association of British Insurers warned the government last month over the hazards of flammable cladding on high rise buildings like Grenfell Tower, according to documents seen by Post.
Effective use of Big Data is growing challenge for insurers, ABI warns
Using Big Data will be the biggest challenge to insurers James Dalton, director of general insurance policy at the Association of British Insurers has said.
Lloyd's: AI, regtech and collaborating with start-ups are key focus areas
Artificial intelligence, regtech and collaborating with start-up incubators are key areas of focus for Lloyd’s as it seeks to modernise, the markets technology head has said.
Regulation is a hindrance to industry innovation: Axa
Regulatory pressures are a barrier to innovation within the insurance industry, a market expert has said.