News
Apollo names head of marine and energy liability after Howard Burnell's assault conviction
Rob Johnston has been named Apollo head of marine and energy liability, following Howard Burnell’s conviction for assaulting his then girlfriend.
Tesco Bank switching to in-house underwriter for all home and motor insurance
Tesco Bank new and renewing home and motor policies will be underwritten by Tesco Underwriting from August, the business announced on Tuesday.
Zurich offers free counselling to claimants
Zurich is to offer policyholders that make a claim free counselling sessions, following a nine-month pilot last year.
Debenhams and Weddingplan insurer ‘considering’ impact of Supreme Court ruling on wedding claims
The businesses behind Weddingplan and Debenhams wedding insurance are “considering” the impact of the Supreme Court judgment and what it means for policyholders who did not get lockdown payouts for cancelled weddings, Post has learned.
Curious case of the PPI huckster filing accounts from beyond the grave
Exclusive: The former boss of disgraced Bury-based claims firm Harringtons Advisory, Ibrar Akbar, passed away in 2019 – but his name continues to be used on accounts paperwork for another of his companies.
Committee calls for government PI scheme for fire risk assessors
The government faces calls to act as an insurer of last resort for fire safety engineers’ professional indemnity insurance.
Insurers count cost of Christoph as warnings of further flooding intensify
Storm Christoph is not expected to prove as costly as other recent winter storms, with PWC predicting insured losses could hit £120m, but could set the stage for more severe flooding as soon as next month.
We can double again, says PIB boss Brendan McManus after Apax deal
PIB Group can double in size over the next five years, CEO Brendan McManus told Post after private equity firm Apax Partners became the firm’s lead investor taking over from The Carlyle Group which has retained a stake.
Insurer satisfaction unaffected by Covid-19 despite record policyholder problems, says Institute of Customer Service
The Covid-19 pandemic and subsequent lockdowns have not had a detrimental impact on the insurance sector’s overall customer satisfaction - despite the number of people experiencing problems hitting an historic high, according to the latest report by the…
IUA starts hunt for chair as Patrick Tiernan swaps Aviva for Lloyd’s
The process for appointing a new chair of the International Underwriting Association has begun, Post can reveal.
FCA will use ‘full range’ of regulatory tools and powers to ensure insurers meet expectations after BI ruling
The Financial Conduct Authority has set out the next steps it expects insurers to take after the Supreme Court judgment on the Covid-19 business interruption claims test case last Friday.
Software house witnesses fortyfold increase in BI claims
There was a fortyfold increase in business interruption claims put through software house Acturis in the week of the Supreme Court Covid-19 business interruption judgment, Post can reveal.
CMCs expect soaring Covid-19 caseload as employees and public lodge claims
Covid-19-related lawsuits are set to drive a 40% increase in litigation over the coming year, with many claims management companies either already dealing with or anticipating a surge in claims.
For the Record: Aviva rationalises office space, RSA deal gets greenlight, Miller enters HNW and Corant Global is born
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Lloyd’s takes Aviva’s Patrick Tiernan as chief of markets
Lloyd’s has recruited Aviva’s managing director of UK commercial lines and global corporate and specialty Patrick Tiernan as its first chief of markets.
FCA proposes to cap CMC fees saving consumers £9.6m a year
The Financial Conduct Authority has published proposals to cap the fees claims management companies can charge their customers.
Policyholders must be helped to understand gaps in cover says CII panel
The industry must communicate to policyholders what their policies do not cover to address reputational issues the industry is facing and help breach the expectation gap, a panel of senior industry professionals speaking at a Chartered Insurance…
Sompo adds Richard Brown to lead on London market and property push
Sompo International has appointed Richard Brown to lead a new team focusing on property business through retail distribution channels in the UK, Europe and selected international territories including the Middle East and Israel.
Loss adjusters report 'significant' rise in BI claims volume
The number of business interruption claims being submitted after the Supreme Court judgment has increased significantly with more anticipated over the coming weeks, loss adjusting firms have told Post.
Preparation for unlikely crises more than a 'tabletop exercise', warns World Economic Forum panel
Policymakers and business leaders need to pay greater attention to low-likelihood, high-impact risks, panellists warned at the launch of the World Economic Forum’s annual Global Risks Report on Tuesday.
Ex-ABI leader Hugh Savill joins Sicsic Advisory
Hugh Savill, the Association of British Insurer’s director of regulation for 17 years, has joined boutique financial services risk and regulation consultancy Sicsic Advisory as a senior advisor, Post can reveal.
Government to offer insurance for care homes that take on discharged coronavirus patients
The government has announced a scheme to cover care homes that have struggled to take on people who have been discharged from hospital following a Covid-19 positive test but have further support needs due to a lack of available insurance.
Frustrated policyholders call for insurers to ‘take responsibility’ after Supreme Court rules many are due payouts
Policyholders and their representatives have called for insurers to “take responsibility” and “immediately start paying claims” in the wake of a bittersweet Supreme Court judgment on disputed coronavirus-related business interruption policies.
Analysis: The class of 2020 emerges
The emergence of a cluster of start up and scale up carriers, or a class of 2020, caught analysts by surprise despite the hardening market.