News
McLarens urges ‘broader look’ at subsidence solution sustainability
Duncan Hamilton, subsidence lead at McLarens, has argued “a broader look” at subsidence solutions is needed, considering factors such as sustainability and resilience.
FCA CEO warns UK ‘massively under-insuring’ against cyber threats
Financial Conduct Authority CEO Nikhil Rathi has warned of mass underinsurance against catastrophe and hostile cyber threats, highlighting the wide-ranging economic impact of such attacks.
GTCR comes on board as JMG Group secures new investment
JMG Group has today announced new investment from private equity firm GTCR, while previous investor Synova LLP continues its involvement.
Talc lawsuit raises coverage questions for insurers
A major High Court lawsuit filed against the pharmaceutical giant Johnson & Johnson alleging links between talcum powder and cancer has been described as a “significant development for the insurance market” by law firm HCR Law.
Jaguar Land Rover hack now ‘costliest in UK history’
The Cyber Monitoring Centre has categorised the recent malicious cyber incident affecting Jaguar Land Rover as “the most economically damaging cyber event to hit the UK”.
Prima aims for UK scale after rapid rise in Italy
Despite recent regulatory hurdles, Prima’s UK manager, Nick Ielpo, has shared his plan for the company to replicate its digital-first success in Italy in the UK motor insurance market.
Clyde and Co sees rapid rise in work-related stress claims
Work-related stress claims, which are covered under employers’ liability policies, have risen sharply in recent years, Clyde and Co partner Barbara Goddard has told Post.
Biba survey finds improvements in insurer service
Gracechurch and the British Insurance Brokers’ Association have released the latest findings from their UK Insurers Monitor, revealing several improvements to service scores but a lag in claims.
Marsh and Allianz lead winners at CII Exam Awards
This year’s Chartered Insurance Institute Apprenticeship Awards and Qualification Prizegiving saw several major insurance groups collect multiple honours.
NTT Data targeting ‘accelerated growth over the next three years’
NTT Data has acquired Derry-based insurance technology consultancy Alchemy, with the firm endeavouring to take aim at insurers utilising Guidewire products.
SRG MGA secures £100m of Aviva capacity
The underwriting pillar of Specialist Risk Group, MX Underwriting, has signed a multi-year delegated distribution agreement with Aviva to support its subsidiary Trilogy Underwriting.
Mazur ruling: A seismic shift for insurance?
A recent ruling at the High Court could give the legal and insurance industries another headache to worry about.
Early insurance involvement breaks ‘vicious’ carbon finance cycle
Insurers providing risk assessments for carbon projects before they start could end the “vicious cycle” of financing delays, according to Artio chief operating officer and co-founder Ibrahim Sarwar.
Everywhen partners with Asda on business insurance
Everywhen has partnered with Asda Money to develop the supermarket’s first business insurance product.
PIB confirms departure of CFO
PIB Group has confirmed its CFO David Winkett has departed the company.
Covéa’s new CEO vows to prioritise profit over growth
Covéa’s incoming CEO Xavier Laurent has pledged to build on his predecessor Georges de Macedo’s turnaround success by keeping the UK business focused on profitability.
Marshmallow names motor brokerage CEO
Marshmallow has appointed Samuel Butler CEO of its car insurance brokerage subsidiary Marshmallow Financial Services Limited.
ABI pressed to make insurers cover subsidence for 10 years post-claim
The Association of British Insurers has been called on to specify insurers maintain clay shrinkage subsidence cover for 10 years after repairs in its guidance.
FCA reveals pendulum swing in Gap payouts
The latest Financial Conduct Authority data for fair value measures has shown that, following regulator intervention, more money is being paid out in Guaranteed Asset Protection insurance claims than is coming in through premiums.
PWC’s launch; Bentley’s insurance product; Howden’s group CFO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Ecclesiastical names former Ageas UK CEO as chair
Ecclesiastical’s parent company, Benefact Group, has named Francois-Xavier Boisseau as its next chair.
AI that could hit insurers with wave of court cases wins backing
Artificial intelligence-driven claims technology capable of causing a surge in court-bound insurance disputes has won the financial backing of a law firm backing and is now being piloted with a major loss assessor, Insurance Post can exclusively reveal.
AI video tech three times better than telematics at predicting risk
Artificial intelligence-powered video telematics technology is three times better at risk prediction accuracy than traditional telematics inputs.
FSCS intervenes as Premier Insurance enters administration
The Financial Services Compensation Scheme has stepped in to protect the 16,000 UK customers of Premier Insurance Company after it entered administration yesterday (14 October).