News
PL insurers continue to face rising material and labour costs
Both home and motor insurers are continuing to feel the effects of the rising costs of labour and materials, according to reports from Verisk and the Association of British Insurers.
Lloyd’s earmarks £52m following slavery ties research
Lloyd’s has launched a programme of initiatives to help Black and ethnically diverse people join and build careers in the market following independent research into its historic links to the transatlantic slave trade.
JP Morgan to launch personal lines insurance proposition
Sources have told Insurance Post that JP Morgan is developing and building its own personal lines insurance proposition.
Insurers welcome Automated Vehicles Bill included in the King’s Speech
The King’s Speech announced the government's intention to, in this parliament, introduce long-awaited legislation covering the use of self-driving vehicles on the UK’s roads.
Growth expected in premium income in 2023
Insurers are set to report growth in premium income for the rest of 2023 before tapering off, according to EY.
Direct Line eyes turnaround with improved Q3 results
Direct Line’s Q3 trading update has revealed it has doubled its Motor gross written premiums, a welcome improvement amid a turbulent year for the insurer.
Insurers risk being ‘left behind’ if they don’t share data
Insurers that don’t share claims data with the wider market risk being “left behind”, LexisNexis Risk Solutions’ James Burton has told Insurance Post.
Phoebe Hugh leaves DLG to ‘lead Monzo’s charge into insurance’
Phoebe Chibuzo Hugh has left Direct Line Group to head up Monzo Bank’s entry into insurance, she has announced.
RSA’s PI product; Jensten’s One Broker deal; GTA names chair
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Implementing dual PI discount rate could be ‘complicated’
Speaking at an Association of British Insurers event, a panel of experts agreed that while a dual discount rate could lead to better accuracy, it could prove to be very complicated to work with.
Aon to bring UK and EMEA businesses together
Aon has announced that it is bringing together its client-serving capabilities and operations in the UK and Europe, Middle East and Africa regions.
Allianz catches fundamentally dishonest pavement fall fraudster
A recent Allianz personal injury case has revealed a claimant to be fundamentally dishonest, finding that they had misled the insurer regarding their accident.
Sprout AI reveals post-funding expansion plans
AI-led insurtech Sprout AI has revealed plans to “transform claims processing” as well as expand into new markets, following its latest funding round.
Storm Babet to cost insurers at least £450m
Fresh estimates from PWC calculate the costs of damage due to the severe weather caused by storm Babet to be between £450m and £650m.
UK government backs insurance partnership to rebuild Ukraine
The UK government has backed an insurance scheme developed by the European Bank for Reconstruction and Development to boost the provision of cover for war risks in Ukraine.
CII’s financial statement prompts questions
A single page summary of the Chartered Insurance Institute’s finances issued alongside the organisation’s AGM agenda has sparked concerns among members.
2023 European Insurance Technology Awards winners revealed
Today, Insurance Post is delighted to announce the winners of 2023 European Insurance Technology Awards.
Insurers must brace for another burst pipe claims influx
As winter approaches, another surge in burst pipe claims may be likely, with research showing a 75% increase in such claims in 2022.
Football clubs and insurers set for 2025 courtroom clash
A legal dispute between several Premier League football clubs and their insurers over Covid-19-related business interruption payouts is set to go to trial in 2025, according to a court order.
Aviva claims UK’s climate performance is in jeopardy
Amanda Blanc has shared concerns the UK’s “ambitious climate goals” are under threat, as the government is moving full steam ahead with its expansion on domestic oil and gas production.
Liberty and Axa XL settle Pizza Express BI battle
Pizza Express has settled its legal dispute with two insurers over what business interruption payout was due to it for Covid closures, according to a court order.
Direct Line launches car insurance ‘without the bells and whistles’
Direct Line has launched an entry-level car insurance product aimed at customers looking for bog-standard cover in the wake of a financial crisis, Insurance Post can reveal.
Direct Line appoints Gearey as director of claims services
Direct Line Group has appointed former Covéa personal lines managing director James Gearey as director of claims services.
‘Financial turmoil’ drives wave of SME Covid BI lawsuits
A law firm claiming to represent thousands of SMEs has initiated dozens of fresh Covid-related business interruption court proceedings.