News
Launching an MGA harder than ever: MGAs and carriers
Setting up a managing general agent is now much harder than at any time previously, according to a survey of over 100 MGAs and insurers conducted by Clyde & Co.
R&Q and Phoenix terminate insolvent debt joint venture
Randall & Quilter and Phoenix Asset Management Partners have ended a joint venture deal to acquire reinsurance debt in insolvent estates.
Analysis: Charting a path through the ‘wild west’ of surveillance
Insurers still regularly use private detectives to investigate suspicious claims, despite the sector being largely unregulated. How are claims bosses navigating the potential pitfalls?
Scammers used UK General's name to target unwary consumers
A clone firm has been masquerading as UK General, the Financial Conduct Authority has warned.
FSCS raised supplementary £14m levy following Alpha collapse
The FSCS was forced to raise a supplementary £14m levy in January to cover the cost of the collapse of Alpha Insurance, according to its annual report.
This week: heatwave, hurdles and honours
Our neighbours in France may have hit their highest ever recorded temperature this week as the heatwave that struck Europe saw schools closed, but Post revealed motorists holidaying there will not be able to claim compensation if they are struck by an…
Tulsi Naidu appointed chair of FCA practioner panel
Zurich UK CEO Tulsi Naidu has been appointed as chair of the Financial Conduct Authority’s practitioner panel.
Lamp customers see first FSCS pay outs
The Financial Services Compensation Scheme has today made its first payments to policyholders affected by the collapse of Lamp Insurance.
CRL identifes potential alternative insurer to take on Alpha policyholders after missed deadline
BCR Legal Group appointed representative CRL failed to find an insurer to take on its Alpha policies by the May deadline set by the Financial Services Compensation Scheme, but it has been given more time as the firm has a replacement in its sights.
Hiscox CUO Richard Watson to retire
Hiscox chief underwriting officer Richard Watson will retire from the role at the end of the year.
Insurers and lawyers ‘open’ to ABI-backed review on limitation law for child sexual abuse claims
Exclusive: Insurers and insurance lawyers have reacted positively to the Association of British Insurers’ calls for a review into limitation law in child sexual abuse claims cases.
ABI accuses consumer panel of 'overlooking practicalities' in dual pricing automatic upgrade recommendation
The Association of British Insurers has criticised a proposal from the Financial Services Consumer Panel for an automatic upgrade rule to tackle dual pricing, saying it “overlooks the practicalities of underwriting and product choice.”
ABI backs review on child sexual abuse claims limitation law
Exclusive: The Association of British Insurers believes that there is a need to review limitation law surrounding cases of child sexual abuse and has pledged to engage with the Independent Inquiry into Child Sexual Abuse, survivors and lawyers.
Rob Smale joins Claims Consortium Group as NED
Rob Smale, former claims director at Ageas, has joined the board of Claims Consortium Group as a non-executive director.
LV on hunt for retail business director as Beard exits the business
Exclusive: LV General Insurance retail business director, Andrew Beard, has left the insurer after 12 years.
RSA appoints Rachel Conran as CUO of global risks solutions
RSA has appointed Rachel Conran as chief underwriting officer for its global risk solutions business.
Tributes paid to former ABI man
The industry has paid tribute to Peter Montagnon, who passed away suddenly yesterday.
Ferma elects Deutsche Bank insurance chief as president
The Federation of European Risk Management Associations has elected Dirk Wegener, global head of corporate insurance at Deutsche Bank, as its next president.
Financial services Brexit bill approaches £4bn as preparations slow
Major financial services firms had spent nearly £4bn preparing for life after Brexit as of 31 May, according to EY.
Insurance Post wins best publication award
Infopro Digital’s insurance titles took home half of the awards at the annual British Insurance Brokers’ Association Journalist and Media Awards on Tuesday.
Deliveroo partner Qover in expansion bid following €8m raise
Belgian insurtech Qover has raised €8m in its latest funding round and will look to continued growth in Europe.
Insurtech Wrisk gets access to over 40 motor brands with Allianz deal
The CEO and co-founder of insurtech Wrisk has hailed its deal with Allianz Automotive as a positive sign that vehicle manufacturers are poised to overcome “the final frontier” of customer engagement - insurance.
Price Forbes launches security risks practice
The Ardonagh Group’s Price Forbes has launched a security risks practice, as JLT staff move to the broker.
CMA price cap proposals could put pressure on 'weak profitability' in insurance
A proposal by the Competition and Markets Authority to place targeted price caps could change pricing and marketing models and put pressure on profitability in the insurance sector, Fitch Ratings has warned.