News
Lloyd’s to ramp up business oversight to avoid past ‘mistakes’
Lloyd’s will increase its oversight of delegated and legacy business to avoid squandering the gains of recent remediation efforts, chief underwriting officer Rachel Turk has said.
Climate protesters enter Chubb’s Manchester office
Eight Extinction Rebellion protesters entered Chubb’s Manchester office yesterday (19 September).
GoCompare’s partnership; Axa’s claims service; Davies’ chief AI officer
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Biba calls for larger SMEs to be exempt from Consumer Duty rules
The British Insurance Brokers’ Association has called for larger SME commercial customers to be removed from the scope of the Consumer Duty requirements.
Lloyd’s names Sir Charles Roxburgh as next chair
Lloyd’s has named Sir Charles Roxburgh as its next chair, with the former Treasury official set to take up the position on 1 May 2025, subject to regulatory approvals.
Aon’s head of UK terrorism Richard Sawyer passes away
Richard ‘Dickie’ Sawyer, Aon’s UK head of terrorism, has died at age 47.
Ripe’s new CEO outlines plan for ‘next phase’ of growth
Two weeks after it was announced he would be taking over from Paul Williams as CEO of Ripe, Alan Thomas shares his plans to power the “next phase” of growth for the business.
Bspoke signs three-year capacity deal with SiriusPoint
Bspoke Group has announced a new strategic partnership with global specialty insurer and reinsurer SiriusPoint Ltd.
Q&A: Paul Baxter, The Green Insurer
Paul Baxter, CEO of The Green Insurer, discusses the company's approach to eco-friendly car insurance, mission to make driving greener, and plans for future growth.
Fraudster given jail time after faking driving documents and hiding offences
A man has been given jail time after he sold invalid insurance policies and tried to take out car insurance for himself by covering up his driving offences and using a fake no-claims discount certificate.
Terrorism legislation ‘likely’ to result in increased D&O claims
Legislation tabled in parliament last week is “likely” to result in more directors’ and officers’ claims and renewed demand for public liability cover, law firm DAC Beachcroft has warned.
Almost all claims handlers believe AI is creating fraudulent claims
94% of UK insurance claims handlers believe at least 5% of claims are being fraudulently created or altered using artificial intelligence.
ABI starts allyship training after Sexism in the City
The Association of British Insurers has rolled out allyship training to its member firms in response to the Treasury Select Committee’s Sexism in the City findings.
Mona Barnes appointed Aon’s global chief claims officer
Mona Barnes has been appointed global chief claims officer for Aon, effective immediately, after joining the broker last year.
LV reassures staff it is committed to Bournemouth
Allianz has confirmed that it plans to move roles lost to “natural attrition” to a call centre in India.
CII criticises insurers’ profiting from premium finance
The Chartered Insurance Institute has questioned the ethics of making money from customers who pay monthly for insurance after Which? found several motor and home insurers were charging what the consumer watchdog called “excessively high levels of…
Seven out of 10 underwriters fear AI will take their job
Research from Hyperexponential has revealed that 69% of underwriters are concerned about being replaced by artificial intelligence in the next five years.
Beazley aims at US levels of cyber uptake in hunt for UK growth
Beazley is targeting US levels of cyber insurance adoption in the UK, as it looks to grow its regional business, UK and Ireland country manager Sam Franks has said.
Cyber market to harden ‘as early as Q1 2025’
Research from Gallagher Specialty has warned there could be a shift in the cyber insurance market by as early as Q1 2025.
Rising freight claims cause headache for insurers
Insurers are seeing increasing numbers of claims relating to freight theft on Britain’s roads, according to RSA.
Bain Capital reportedly considering sale of Esure
Esure’s parent company Bain Capital is reportedly looking to sell the insurer, which it acquired in 2018.
Compare the Market utilising AI to ‘perfect’ product comparison
Compare the Market CEO Mark Bailie has labelled artificial intelligence a “godsend” as he pledges to use the technology to achieve perfect price comparison.
Government uncertain on Martyn’s Law’s insurance implications
Martyn’s Law, which will require public venues to boost their preparedness for terrorist attacks, has finally been introduced to parliament.
All pet policies could be lifetime ‘in next five years’
Speaking at Defaqto’s Smarter Financial Decisions conference, Anna-Marie Duthie, insight consultant at Defaqto, told the audience that the number of lifetime pet policies has skyrocketed in the last decade.