News
Law firm to pay Axa £70,000 after systematically inflating legal costs
Claimant law firm Asons has agreed to repay almost £70,000 to Axa after admitting to falsely and systematically inflating its legal costs.
IFB collaborates with police to convict fraud gang
A crash for crash gang has been exposed and five people have been found guilty after a £500,000 fraud was uncovered by the Insurance Fraud Bureau and Derbyshire Police.
Sun Life ventures into general insurance with Junction partnership
Junction, part of BGL Group, has signed a five-year contract to provide home and motor insurance products to life insurer Sun Life.
Brokers hit by third SSP outage in five weeks
Brokers using SSP's Pure platform have experienced a third interruption of service in the space of five weeks.
AIG ex-CEO Greenberg settles long-running fraud case for $9m
Former AIG CEO Maurice “Hank” Greenberg, along with former chief financial officer Howard Smith, have agreed to pay $9.9m (£7.9m) to settle a 12-year old securities fraud case.
Reinsurers increasing insurtech investment to counter growing competition
Reinsurers are increasingly investing in insurtech to mitigate external threats from venture capital investment, experts told Post.
McCafferty joins Axa as CEO
Brendan McCafferty has joined Axa as CEO for intermediated and direct insurance after holding the position of Flood Re CEO.
Neon appoints Pritchard as property head
Neon has appointed of Nick Pritchard as head of property reinsurance.
Insurance business is safe amid Co-op Bank's decision to put itself up for sale
Co-operative insurance will not be impacted amid the Co-operative Bank’s decision to put itself up for sale and invite offers on its shares.
Accelerate enters partnership with WK Insurance
Accelerate Underwriting has entered into a three-year deal with insurance brokers WK Insurance, part of the Willis Network.
Questgates makes string of appointments and acquires premises in Ireland
Questgates has expanded its team in Ireland to drive the development of business in the region through a series of appointments.
Post People: 13 - 17 February
All the latest moves from the insurance industry
Insurtech start-up In My Bag launches with Hambro Perks funding
Mobile professional insurance specialist In My Bag has formally launched with funding from Hambro Perks and the underwriting support of ECIC.
Independent Hong Kong regulator targets Q2 beginning
Hong Kong's Insurance Authority has told Insurance Post that a new regulatory regime for insurance brokers could take until the second quarter of 2019 to implement.
Over 100 bushfires across New South Wales as heat records tumble
New South Wales has seen 120 bushfires over the last few days as temperatures in the state hit record highs over the weekend.
Aviva launches home assistance cover with Homeserve
Aviva has partnered with Homeserve to launch home assistance cover to support customers in the event of problems in households.
Over-regulation is main concern for insurance CEOs, says PWC
Fears about over-regulation, the rise of technology, new market entrants, and shifting customer expectations are just some of the issues keeping insurance industry bosses up at night, according to PWC.
Talbot launches Lloyd's led terror facilities
Validus subsidiary Talbot Underwriting has launched three Lloyd’s led terror facilities in the Singapore, Latin American and Dubai markets.
Insured nat cat losses total $39.5bn in 2016 says Willis Re
Global insured natural catastrophe losses totalled $39.5bn (£31.3bn) in 2016, the highest market losses since 2012’s $60bn, according to Willis Re.
Legal expenses insurers to face hit from whiplash reforms
Firms offering legal expenses insurance could face heavy losses from "draconian" whiplash reforms.
Aon revenue falls 2% in 2016
Global broker Aon reported a 2% drop in revenue in its overall 2016 full year results.
Sovereign Capital backing management buy-out of Irish broker Arachas
UK private equity firm Sovereign Capital is backing the management buy-out of Irish brokerage Arachas Corporate Brokers.
Castle Cover closure a sign of things to come, experts warn
Ageas broker Castle Cover's closure is a symptom of changing consumer behaviour, experts warned.
Personal insurers are not placing enough digital investment into claims process
Leading personal lines insurers are placing a bigger focus on digital investment for customer acquisition rather than retention, research shows.