News
Brokers must offer more Shariah compliant products, says IIAL
The Islamic Insurance Association of London has called for brokers to better meet their Muslim clients’ needs by offering Shariah compliant products.
Claims Club: Businesses that fail to read the fine print end up paying out for damages
Insurers have a duty of care to customers to ensure they understand the limitations of fully comprehensive cover.
Marine cargo MGA launches with backing from Hiscox
A regional cargo market managing general agent has launched in the UK, backed by capacity from Hiscox and Lloyd’s syndicates.
IPT rise will cancel out benefits of whiplash reform for younger drivers
The increase in insurance premium tax will effectively cancel out the benefits from proposed whiplash reform felt by younger drivers.
Admiral CEO donates £3.94m of shares to own charity
Admiral CEO David Stevens has donated 205,000 shares, worth £3.94m to a charitable foundation in which he is the main trustee.
FCA publishes supervision plans for Insurance Linked Securities
The Financial Conduct Authority has outlined its proposed approach to the authorisation and supervision of Insurance Special Purpose Vehicles, which will facilitate Insurance Linked Securities business.
CMA's Philip Swift features on crash for cash TV exposé
Managing director of Claims Management & Adjusting Philip Swift provided expert insight for a TV exposé on a crash for cash scam aired on Channel 5 last night.
Hiscox appoints Juan de Castro as UK and Ireland COO
Specialist global insurer Hiscox has promoted Juan de Castro to chief operating officer of Hiscox UK and Ireland.
Munich Re eyes up Iran entry
Munich Re is considering plans to provide its insurance services to Iran following sanctions relief at the beginning of the year, according to Iranian news broadcaster Press TV.
Perils revises August Italy earthquake property losses
Insurance catastrophe market data firm Perils has increased its estimate of property insurance losses for the 24 August Central Italy earthquake.
Power plant construction accident kills 74 in China
74 people have died after a platform at a power plant construction site in Jiangxi province, east China, collapsed.
Robin Reames: An obituary - updated
Robin Reames, the former Swiftcover and Axa claims director, has passed away surrounded by his family at King’s Hospital, London.
Hammond 'crazy' to not tackle personal injury cold calling, lawyers say
Personal injury lawyers said they are disappointed that Chancellor Philip Hammond has not outlined plans to tackle cold calling relating to personal injury.
Industry welcomes £23bn investment in innovation in Autumn Statement
Plans by the government to contribute £23bn toward tech innovation have been welcomed by insurtech firms.
London Market welcomes proposed ILS reform
The London Market has welcomed the publication by the government of draft regulations for Insurance-Linked Securities for consultation.
IPT set to rise in June, Chancellor confirms
Chancellor Philip Hammond confirmed the insurance premium tax will rise in June.
Generali to sell off €1bn of assets by 2018
Italy's biggest insurer Generali is looking to leave unattractive markets in a bid to generate €1bn, the firm announced ahead of an investor day meeting this morning.
Go Compare launches telephone blacklist to tackle fraud
Go Compare has launched a telephone blacklist to prevent fraudsters from reaching insurers via the aggregator’s website.
North Lanarkshire council calls for government task force over Kwik Fit site closure
Ageas retail CEO Ant Middle informed staff at Kwik Fit Insurance's Uddingston site yesterday that all 521 staff are at risk of losing their jobs when the site closes in March.
Brokers on government SME advisory panel
Insurance brokers have been given a seat on an advisory panel put together by The Cabinet Office under plans to boost government spending with SMEs.
Industry reacts to Autumn Statement
Live reactions from the industry
Tackling flood risk needs a collaborative effort, says Flood Re chairman
Insurers, environment agencies and government need to collaborate if they are to tackle the threat of flooding effectively, said Mark Hoban, chairman of the board of directors at Flood Re.
CEO Davies leaves Sompo Canopius
Stuart Davies is stepping down from his role as group CEO at global specialty (re)insurer Sompo Canopius with immediate effect.
Global tourism boom to spur purchasing of travel policies
Total travel insurance premiums are expected to grow 8.5% a year between 2016 and 2022 according to data from global firm Allied Market Research.