News
Brightside to put MGA Kitsune into run-off
Brightside has decided to put car and van managing general agent Kitsune into run-off less than two years after it was launched, CEO Brendan McCafferty has revealed.
BI reputation hit to be felt by all but motor initiatives could soften impact, says ABI GI head
Reputational damage from Covid-19 can be expected across all lines of insurance, but initiatives introduced by motor insurers at the beginning of the year could soften the blow, an Association of British Insurers representative has suggested.
Video: Driving change in insurance and rebuilding trust in the market - both during and after the pandemic
Pre- or post Covid, insurance has been on the cusp of major change for a number of years.
Video: Insurance and Covid-19 - Initial reaction to the crisis and rebuilding in a new environment
Like all industries, insurance has been impacted profoundly by the Covid-19 pandemic.
Insurers criticised for furlough payment deductions from BI claims
Insurers have been accused of “banking government money to reduce their loss by increasing the policyholder loss” as they faced criticism for deducting furlough payments from the value of business interruption claims.
FCA reminder could be 'final warning' to CMCs
A Financial Conduct Authority letter to claims management company CEOs could foreshadow hefty enforcement action, industry sources told Post.
Interim payments expected for BI policyholders with Marsh-authored RSA wording
Some businesses with policies that employ a Marsh wording can expect interim payments “imminently” following RSA’s decision not to appeal a High Court judgment, which found it provided cover for disruption caused by the coronavirus pandemic.
Brokers and MGAs warned to remove staff who are not 'fit and proper' for SMCR rules
The Financial Conduct Authority has cautioned brokers and managing general agents not to assume someone is “fit and proper” for roles under the Senior Managers & Certification Regime, with the expectation being that “some” staff will not meet standards.
Supreme Court BI test case hearing confirmed for November
The Supreme Court will start hearing the appeals of six insurers, the Hiscox Action Group and the Financial Conduct Authority in the ongoing Covid-19 business interruption test case on Monday 16 November, the FCA has confirmed.
Analysis: FCA takes the ‘nuclear option’ on dual pricing
In September, the Financial Conduct Authority published its long-awaited final report on pricing practices in the home and motor insurance markets, putting forward a package of measures that its interim CEO described as “probably the most radical shake…
Ageas UK names Adam Beckett chief distribution officer
Adam Beckett, most recently Aviva propositions director, will join Ageas UK as chief distribution officer in 2021.
Big three brokers' Q3 results hold steady in face of Covid-19
The financial performance of the world’s three largest broking firms held steady in the third quarter of 2020 leading executives to hail strong results achieved in spite of the pressures of the Covid-19 pandemic.
Aon and Direct Line Group discussed how insurance firms can seize the initiative on privacy, cyber risk and operational resilience
What operational challenges have insurance companies faced and how can they ensure optimal cyber resilience for future disruptions?
Hiscox UK names Louise Marling COO
Louise Marling, formerly Hiscox UK interim change director, has been appointed as the insurer’s chief operating officer.
Government urged not to rush whiplash reforms
With an April 2021 launch date still on the table for the small claims portal, the government has been urged to do it right rather than “rushing” it.
Travelers and QBE face Stonehaven train crash liability claims
Third party liability claims arising from August’s Stonehaven train crash in Scotland will fall to either Travelers or QBE, broker letters reveal.
Lloyd’s bosses bombarded with ‘calendar jam’ as insurers targeted on Twitter
Apollo ruled out further dealings on Adani projects as climate campaigners hit Lloyd’s insurer CEOs with calendar invites and targeted companies on social media.
CHO chair Kirsty McKno to bow out
Credit Hire Organisation chair Kirsty McKno will step down in November, with a strategic board set to take over.
Minster Law posts £1.1m profit as it launches digital claims portal
Minster Law has reported a £1.1m profit for 2019 as it launches a digital claims portal to 75% of its customers.
Solvency II review to be tempered by equivalency considerations
Possible changes to the prudential regulations governing UK insurers could be limited by a desire not to stray too far from the EU’s Solvency II regime, a partner at Mazars has told Post.
Mactavish appoints former Aston Scott CEO Heidi Carslaw as MD
Mactavish has appointed Heidi Carslaw, formerly CEO of broker Aston Scott, as managing director.
Peter Zaffino to succeed Brian Duperreault as AIG CEO
Peter Zaffino, AIG president and global chief operating officer, will succeed Brian Duperrault as AIG CEO in March 2021.
Climate activists plan day of digital disruption to Lloyd's
Climate campaigners from across the globe will join a digital protest calling on Lloyd’s to “act on the climate crisis, not act as the last refuge for climate wreckers like Adani to secure insurance”, with thousands of participants expected.
Fully Comp episode 5: The insurance challenges of automated lane keeping systems
Welcome to the fifth episode of Fully Comp, Insurance Post’s new regular video series tackling some of the biggest issues in insurance.