News
Lords Committee expresses concerns of ‘overly demanding’ and ‘burdensome’ regulation of London Market
The Industry and Regulators Committee has written to the Economic Secretary to the Treasury John Glen to outline concerns about lack of proportionality in the regulation of the London Market by the Financial Conduct Authority and the Prudential…
British Insurance Awards: 2022 shortlist revealed
This year the British Insurance Awards return back to their spiritual home at the Royal Albert Hall after a two year absence.
IBM ordered to pay another £80m after it unlawfully breached Co-op IT contract
The Court of Appeal has found that IBM must pay another £80.6m to the owner of Co-operative insurance due to breach of an IT contract in 2017.
Dual appoints European executive chairman to spearhead 'hire and acquire' strategy
Howden-owned managing general agent Dual has appointed Maurizio Ghilosso as executive chair of its European business.
McPhail swaps Zurich for Keoghs
Calum McPhail, formerly head of liability claims at Zurich, has left the insurer to join Keoghs as strategy consultant on a part-time basis.
FCA reforms authorisation process as it continues recruitment push
The Financial Conduct Authority has said it is committed to bring a more robust and efficient authorisation process and confirmed it has reformed its authorisation process with more decisions now taken by individual senior managers rather than by…
Woodgate & Clark acquires media and entertainment adjuster Spotlite
Woodgate & Clark has acquired media and entertainment adjuster Spotlite as it continues to build specialist expertise.
Jensten Group launches retail brand as it restructures
Jensten Group has announced a restructure that will see it launch four new brands in the coming months, affording greater prominence to the Jensten name.
RSA's Norgrove promises broker service improvements
RSA UK and international CEO Ken Norgrove has promised to materially improve the insurer’s level of service to brokers by the end of the year, admitting that it had fallen short in recent years.
Tokio Marine voids 'fraudulently obtained' Greensill policies
Tokio Marine has accused Greensill of fraudulently obtaining insurance policies and said it will “vigorously defend any claims against it” under the policies it has now voided.
Aviva names RSA’s Charlotte Jones CFO
Aviva has appointed Charlotte Jones as chief financial officer starting in September.
UK regulators are not 'lumbering' and should not mirror Bermuda, says Glen
Calls from the London market to reform the UK regulatory regime to more closely resemble that of, for example, Bermuda should be resisted, the Economic Secretary to the Treasury John Glen has said.
Clyde & Co merges with BLM; Beazley unveils underwriting structure; KGM buys Eridge Underwriting Agency; Blanc becomes WWF ambassador; and Swiss Re warns of global protection gap
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
APRIL FOOLS' DAY: Qumble in 'unbrielievable' industry first with parametric dairy product
Exclusive: Insurtech Qumble is set to bring its innovative parametric cheese cover to the mass market – both on earth and the moon – over the next quarter.
Robust e-scooter regulation needed at 'earliest opportunity', sector urges Shapps
Four insurance industry trade associations have called on the government to bring in 'robust' legislation around the use of e-scooters as soon as possible if they are to be permitted beyond current trials.
Judgment closing dental liability loophole could herald insurance step change
A Court of Appeal judgment has closed a legal loophole that meant dental practices were not liable for injuries caused by individual dentists during treatment, potentially further opening up the market to commercial insurers.
Axa will not appeal Corbin & King BI verdict
Axa has decided not to appeal a £4.36m Commercial Court business interruption judgment against it.
Data analysis: FOS insurance backlog tops 9000 cases
Freedom of information requests by Post and sister title Insurance Age have laid bare the scale of insurance case delays at the Financial Ombudsman Service.
Enoizi joins Guy Carpenter in global role
Guy Carpenter has appointed Julian Enoizi as global head of public sector.
UK's first public insurtech Ondo expects to break even within two years
Ondo, which became the first UK insurtech to go public last week, expects to break even within the next two years, its CEO Craig Foster has told Post.
Lloyd’s CEO John Neal hospitalised after weekend collision
Lloyd’s CEO John Neal is in hospital with serious injuries after he was involved in a collision with a car on Saturday while cycling.
Motion for mandatory leasehold buildings insurance commissions disclosure tabled in parliament
An early day motion naming Reich and calling for regulated firms to be required to disclose leasehold buildings insurance commissions has been tabled in the House of Commons.
Markel UK hires director of underwriting from Hiscox
Markel UK has named Mark Plews as director of underwriting, joining from Hiscox.
Claims Consortium Group expands claims handling services with acquisition
Exclusive: Claims Consortium Group has acquired loss adjuster Roger Rich & Co for an undisclosed sum.