News
Post news editor Callum Brodie declared journalist of the year at Biba awards
Post news editor Callum Brodie won a hat-trick of awards at the British Insurance Brokers’ Association journalist of the year awards this afternoon, including the top prize.
FCA seeks industry feedback on value of publishing claims ratios
In a discussion paper published today, the Financial Conduct Authority has set out and invited comments on options for the publication of product value data, following concerns about poor value and a lack of effective competition in general insurance…
Heather Wheeler succeeds Evans as chair of APPG on insurance & financial service
Heather Wheeler, the MP for Derbyshire South and a former Lloyd’s broker, has been elected the new chair of the All Party Parliamentary Group on Insurance and Financial Services.
FCA defends costs in relation to EU counterparts
The Financial Conduct Authority has disputed its costs are significantly more than other European Union regulators after a critical response from an insurance trade body to its fees and levies for 2015/16.
Gracechurch ranks leading underwriters
Gracechurch has published its 2015 report into the leading underwriters in the London market, voted for by fellow underwriters and brokers.
FCA commences investigation into Quindell as it suspends AIM trading
The Financial Conduct Authority has confirmed it is conducting an investigation into Quindell in relation to public statements made about the outsourcing company's financial accounts during 2013 and 2014.
Allum joins Ace as Singapore casualty manager
Jack Allum will join Ace as casualty manager for Singapore on 29 June.
Brexit would be negative for UK financial sector
A vote to leave the European Union could threaten the health of the UK economy and its financial sector, according to Standard & Poor's Ratings Services.
VRS Vericlaim buys Certo
Sedgwick-owned specialist loss adjuster VRS Vericlaim has purchased claims handler Certo in a bid to boost its third party administration and commercial loss adjusting capacity.
Female millennials survey findings dismissed by optimistic industry insiders
Schemes designed to attract more women into the insurance industry are starting to show signs of success, despite a piece of research that suggests female millennials are being put off a career in the sector.
Household rate rises required despite long-term benefits of connected home
The connected home may favourably impact the profitability of the household market but benefits are unlikely to offset the effect of declining premium in the short term, according to insurers.
MIB reports 4.6% rise in hit-and-run accident claims
The number of claims relating to hit-and-run accidents increased 4.6% between 2013 and 2014, according to the Motor Insurers' Bureau.
Insurers must ready themselves for European data changes
UK insurance professionals have been warned not to underestimate the huge changes that lie ahead in data protection, after a survey revealed almost one third are unaware of the forthcoming European General Data Protection Regulation.
Industry defends data collection practices in light of CMA report
Insurers have defended their data collection processes following the publication of a critical Competition and Markets Authority report and calls from a consumer champion for greater transparency around how telematics data is used.
Insurers accused of shirking duty as MoJ faces calls for NIHL claims shake-up
Industry calls for the Ministry of Justice to introduce a fixed-fee regime and expand the existing Claims Portal to include industrial deafness claims have been met with staunch opposition by the claimant legal fraternity.
Lure of Liechtenstein questioned as reports of insurer interest surface
The Liechtenstein financial regulator has flagged an uptick in insurance companies looking to establish a presence in the principality despite analyst scepticism about the benefit of the territory as an outpost for UK insurers.
Hurricane season expected to be 'below average' this year
The 2015 Atlantic hurricane season is projected to be below average, although “impactful landfalls” remain a possibility, according to Guy Carpenter & Company.
Regulator suspends large Bangladesh insurer
Standard Insurance's licence has been suspended for three months by the Bangladesh Insurance Development and Regulatory Authority.
Credit hire zero excesses appeal defended by DAC Beachcroft
DAC Beachcroft has successfully defended an appeal by credit hire organisation On Hire relating to the recovery of credit hire rates where replacement vehicles with zero excesses are hired.
Fosun makes first Israel insurance purchase
Chinese conglomerate Fosun has made its third purchase in Israel and its first in insurance in the country.
Cyber attack on Polish airline grounds 1400
Polish airline LOT was forced to delay flights for five hours last Sunday (21 June) after a cyber attack on its ground operations systems.
Zurich hires for COO role in Australia
Zurich Australia has hired from bank ANZ to replace outgoing chief operating officer Shaun Feely.
RSA to appeal Philip Smith's constructive dismissal verdict
RSA has vowed to appeal the Employment Appeal Tribunal's decision in Dublin to award former Ireland CEO Philip Smith €1.25m (£900,000) in constructive dismissal damages.
Delegated authority criticism sparks uptick in CII exam applicants
The Chartered Insurance Institute believes criticism of delegated authority arrangements by the Financial Conduct Authority is behind a spike in interest from the market for its specialist examination.