News
Government accelerates whiplash reforms to remove £1bn of costs
Chancellor of the Exchequer George Osborne committed to accelerating motor injury reforms in today’s (25 November) Autumn Statement, which are expected to remove more than £1bn from the cost of providing motor insurance.
Allianz's internal SII model gets regulators' approval
Allianz Insurance, as part of the Allianz SE group, has gained regulatory approval to implement an internal model to calculate capital requirements under Solvency II.
Muress becomes international CEO as Crawford simplifies structure
Crawford Europe, Middle East, Africa and Asia Pacific CEO Ian Muress is to take on additional responsibility for Canada and Latin America after being named international operations CEO as part of a group-wide restructure.
Insurance debate: Pride is a good thing
If you could choose two phrases to sum up the industry, would they be 'lucrative' and 'cutting edge'?
8.4 million UK motor policies at risk of application fraud, Lexis Nexis finds
More than one third of insured motorists believe it is acceptable to omit or adjust data to reduce their motor insurance premiums on application, research from Lexis Nexis Risk Solutions has found.
Alton Towers crash caused by human error
The Alton Towers rollercoaster accident in June that resulted in two people requiring amputations was caused by human error, the theme park has confirmed.
Insurance debate: Allianz believes trust is a top priority
To change public perception, a cultural shift and improved technology are needed, says Stephanie Smith, operations director for Allianz.
Ortega to lead Chubb in Asia-Pacific after Ace deal completes
Juan Luis Ortega, Asia-Pacific president at Ace, will lead the merged entities of Ace and Chubb in the region.
Cloud insurance uptake set to increase in light of FCA consultation
A Financial Conduct Authority consultation giving guidance to financial services firms outsourcing to the cloud should result in more insurance industry players using the technology, commentators predict.
Insurance debate: We need to combat customer apathy, says PwC
Jonathan Howe, UK insurance leader at PWC, continues the discussion by wondering whether the industry gives itself enough ‘touch points' with customers and believes it needs to be more innovative.
Parabis exodus continues as PI teams defect to Horwich Farrelly
Parabis Group has seen seven partners and 36 other lawyers and support staff move to Horwich Farrelly, as the beleaguered business continues to downsize.
Benefits of blockchain championed to slow starters in the UK
The UK insurance industry is "woefully behind" in its take up of blockchain technology, which commentators say will radically change the way insurance contracts and settlements are handled as well as potentially reducing insurance fraud.
UK rivals tipped to benefit from McNamee's AIG exit
The expected departure of AIG's UK managing director Jacqueline McNamee is a “significant loss” for the company and could result in rival firms pegging back last year’s biggest UK insurer, according to market observers.
Insurance debate: Aviva says it's all about the customer
For Lindsey Rix, chief operating officer at Aviva, the key to adding value to insurance is to make insurance products relevant and accessible, by using digital and social technologies to increase customer engagement.
ICO writes to 1000 companies trading data as LV calls for single CMC regulator
LV has applauded a decision from the Information Commissioner's Office to write to more than 1000 companies involved in buying and selling data as part of its ongoing crackdown on nuisance calls.
Insurance Debate: Ex-DLG and Flood Re boss Woolgrove says without licences insurance can't be a profession
Former Chartered Insurance Institute president Tom Woolgrove doesn't believe insurance will ever be viewed as a proper profession, primarily because anyone can call themselves an insurer without a proper qualification or licence.
Davies wraps up purchase of Parabis's adjusting businesses
Davies Group has confirmed the acquisition of Parabis Group’s loss adjusting businesses Argent Liability Adjusters and Argent Property Adjusters.
More than £29bn working capital trapped in UK economy, AIG finds
Limited access to working capital finance and inflexible payment terms are having an adverse impact on UK business, research from AIG and Prime Revenue has found.
Icahn seeks shareholder support for AIG breakup
AIG has said it would not "make financial sense" to break up the insurer after renewed pressure from activist investor Carl Icahn.
US government issues worldwide travel alert
The US State Department has issued a worldwide travel alert for all of its citizens for three months citing "increased terrorist threats".
Towergate targets long-term stability with nine point turnaround plan
Towergate's senior team has compiled a nine point turnaround strategy involving a two-year integration project, which group CEO David Ross believes will transition into 'business as usual' in 12 months’ time.
Market moves - 26 November 2015
All the movers and shakers in the insurance industry
Ex-Axa COO Carruthers to become non-exec chair at A-Plan
Former Axa Commercial Lines and Personal Intermediary chief operating officer Max Carruthers is to take on the role of non-executive chairman at independent high street broker A-Plan, Post can reveal.
Aviva commercial to launch multinational offering in 2016
Aviva is to soft launch a commercial multinational offering in the New Year, having worked on its development for the past 18 months.