News
Perils pegs London’s 2021 summer flood losses at £281m
Perils has pegged insurance and reinsurance industry losses for London floods that took place between 12 and 14 July 2021 at £281m.
FCA expects to grow staff headcount by '400 to 500 this financial year'
Financial Conduct Authority CEO Nikhil Rathi expects the staff headcount to grow by 400 to 500 this financial year, “challenging set of reforms” to its career, pay and grading which resulted in two strikes action.
FCA dealt with less than a quarter of whistleblower cases received in 2021/22
For the period between April 2021 and March 2022, more than three quarters of the whistleblower submissions received by the Financial Conduct Authority are still under assessment.
Protect Duty legislation likely to push up the price of liability cover - RSA UK's Harrison
Forthcoming counterterrorism legislation is likely to push up the price of liability insurance and make higher limits harder to obtain for some businesses, says RSA UK Specialty's casualty head Steve Harrison.
Pool Re makes case for becoming treaty reinsurer
Pool Re’s proposed move to a treaty reinsurance model would be “the most fundamental reform” in the government-backed terrorism reinsurer’s history, CEO Tom Clementi claimed.
Axa's Tara Foley: Moja is already attracting younger customers than other brands
During its first month of trading Axa’s new digital start-up Moja has attracted customers that are on average a decade younger than its other brands, Insurance Post can reveal.
Isle of Man hosts insurtech 'accelerator'
A four-month ‘accelerator’ programme that kicked off in late September is at the centre of the Isle of Man’s plans to position itself a “centre of excellence” for insurtechs.
Unrepresented claimants continue to sit below 10% according to OIC
The fifth tranche of data from Official Injury Claim portal shows that unrepresented claimants still make up less than 10% of its users, while the time taken to settle claims increases yet again.
Das UK partners with Admiral; IFB partners with GIFC and Ifed; Canopius names head of change
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Malcolm Hyde, Aviva, DACB, HF, NFU Mutual, Sedgwick and Zurich big winners at the Claims and Fraud Awards
Law firm HF took home three awards at the Claims and Fraud Awards last night, at an event that saw former Chartered Institute of Loss Adjusters executive director Malcolm Hyde, pictured, pick up the Achievement Award.
Insurers defend approach to transitioning businesses following Ferma criticism
Insurers have defended their approach to providing cover to companies undertaking Net Zero transitions following criticism from the Federation of European Risk Management Associations.
Campaigners call on insurers not to cover expansion of one of the world's biggest gas projects
Reclaim Finance has called for insurers of the Ichthys liquified natural gas project not to renew the coverage.
The European Insurance Technology Awards are open for entries
Entries are open for the The European Insurance Technology Awards which are hosted by Insurance Post in partnership with sister Inforpro Digital brand L’Argus de l’assurance
US cyber MGA Resilience makes play for UK mid-market business
Cyber managing general agent Resilience will look to establish a presence in the London market before setting its sights on UK regional business, international chief underwriting officer Kyle Bryant tells Post.
CII elects Swiss Re's Russell Higginbotham as president
Russell Higginbotham, CEO of Swiss Re Solutions, has been elected president of the Chartered Insurance Institute for 2023.
Motor insurers and credit hire companies agree maximum daily settlement rates
Motor insurers and credit hire companies have signed an interim agreement on increasing certain hire rates to enable both sides to navigate their way through the current challenges in the motor claims supply chain.
Hunt appointed CFO of HDI Global UK and Ireland
HDI Global has appointed Simon Hunt as CFO for its UK & Ireland branch.
FCA highlights shortcomings in insurers' handling of BI claims as sum paid out hits £1.5bn
The Financial Conduct Authority has identified key areas where firms did not meet its expectations regarding fair treatment of customers when dealing with their business interruption claims.
Hastings support staff through cost of living crisis with 5% pay increase and £500 cost of living bonus
Hastings Direct is implementing a packet of support to help the majority of its colleagues through the cost of living crisis.
Lemonade launches in UK in partnership with Aviva
Insurtech Lemonade is continuing its European expansion by launching in the UK in partnership with Aviva.
Kingfisher pair team up to launch motor insurer with net-zero focus
Andy James and Mark Ames, previously of Kingfisher Insurance, have teamed up to launch Zixty, an app-based motor insurance company with carbon neutrality at its core offering.
Titcomb to replace Kesterton as Thomas Miller CEO
Thomas Miller, the international transport and professional indemnity specialist, has announced it intends to appoint Hugh Titcomb as its new CEO, subject to shareholder approval, replacing Bruce Kesterton.
FCA warns insurers to protect customers during cost-of-living squeeze
As the soaring cost of living is putting pressure on households, the Financial Conduct Authority has instructed insurers to protect customers from unnecessary products or add-ons and unfair penalties.
Clegg Gifford employee wins age discrimination case after being told he has been around ‘as long as Pontius Pilate’
A Clegg Gifford & Co employee, who has worked in the industry “a great many years”, has won age discrimination case after his boss claimed he has been around “as long as Pontius Pilate”.