News
Lloyds Banking Group to be hit with PPI fine in excess of £100m
Lloyds Banking Group is reportedly set to be slapped with a record fine of more than £100m by the Financial Conduct Authority for mishandling payment protection insurance complaints.
Millennials keen to trade blood and urine samples for premium discounts
Millennials in the UK are prepared to give up their own blood, urine, and personal data if it means lowering their insurance premiums, according to a survey conducted by generation researchers Decode.
Arc Legal supports FCA claims ratio re-evaluation
Legal expenses insurer Arc Legal Assistance has backed a move from the Financial Conduct Authority to consider alternative options to the requirement for insurers to publish claims ratio information for add-on products.
Theme parks warned to check safety systems after Alton Towers crash
Theme park rides made by the same manufacturer as ‘The Smiler’ at Alton Towers should review their safety procedures ahead of increased scrutiny form the health and safety executive, the managing director of specialist theme park broker Marsh & Company…
Cega opens London office
Cega, the independent assistance and claims provider, has opened a new office in London as part of an on-going investment in its market-facing capabilities.
78% of terrorist attacks since 2007 have been in 10 countries, says Aon
Aon has identified the 10 countries where the vast majority of global terrorist attacks occur.
Peak Re partners with Shanghai Typhoon Institute
Hong Kong based reinsurer Peak Re and the Shanghai Typhoon Institute are partnering for research projects into the impact of tropical cyclones on the insurance market.
Temple victorious in ATE premium High Court dispute
Temple Legal Protection has won a High Court dispute that confirmed its after the event premium for clinical negligence insurance policies in the post-Legal Aid, Sentencing and Punishment of Offenders Act 2012 era was not unreasonable or disproportionate.
New City minister Baldwin to receive GI industry welcome from Biba
The British Insurance Brokers’ Association has vowed to meet with Harriett Baldwin MP to discuss its manifesto points after she replaced Andrea Leadsom MP as City minister.
Human error to blame for 75% of cyber breaches at large firms
Human error continues to feature heavily in cyber breaches despite increased staff training, according to a new report.
LV's Crabtree to start Ifed secondment in May
LV has funded claims crime prevention team technical controller Matt Crabtree to undertake a six month secondment to the Insurance Fraud Enforcement Department.
McLarens opens Cork office and hires two Top Mark adjusters in Belfast
Loss adjuster McLarens has extended its all-Ireland offering by establishing a presence in Cork and appointing a pair of Top Mark adjusters to its Belfast operation.
#Biba Fever - episode 8: The last word on the conference from Gary Humphreys
Three weeks after the British Insurance Brokers’ Association conference, Post met up with Markerstudy’s Gary Humphreys to get the final word on the 2015 event.
Poor 2014 insurance results at Eldon spark South Africa trial move
Staff at Eldon Insurance Services have been told that poor results within the insurance business last year are to blame for the decision to move all live functions to South Africa for a trial period.
Axa and Lockon join forces to win Regis property deal
Axa is to provide insurance for property group Regis’ ground rent portfolio following a deal with Lockton.
Vienna Insurance Group subsidiary agrees Bulgarian acquisition
Vienna Insurance Group has agreed a deal to acquire Bulgarian firm UBB-AIG through its subsidiary, Bulstrad.
Shipowners' Mutual posts 94.6% COR after strategic withdrawal
Marine mutual Shipowners Club posted a combined ratio of 94.6% for the 12 months to February 2015, amid high business retention levels and increased membership numbers.
PICC is lead insurer for China Yangtze shipping disaster
PICC has confirmed it is the lead insurer for the stricken Eastern Star ship that sank in the Yangtze river on Monday night.
IAG's India stake increase on track after Indonesia buy
Insurance Australia Group is in advanced discussions to increase its stake in SBI General Insurance in India to 49%.
Suncorp invests A$75m to create "data lake"
Patrick Snowball, outgoing CEO of Suncorp, said the group is planning to invest in a suite of technologies to improve performance.
Go Skippy parent mulls overseas transfer of jobs as 150 staff are put on notice
UK Independence Party backer Arron Banks’ Eldon Insurance Services has put 150 UK-based employees on notice of redundancy as part of plans to potentially move work overseas, Post can reveal.
Four seriously injured after Alton Towers rollercoaster crash
Four people have been seriously injured after a rollercoaster carriage carrying sixteen people crashed into a stationary carriage at the Alton Towers theme park in Staffordshire.
Broking managerial merry-go-round a by-product of market consolidation
A managerial merry-go-round within the UK broking sector is being powered by a combination of increased consolidation and insurer preference, according to market insiders, who have raised questions over organic growth knowhow.
Covéa to decide on Sterling Insurance brand by end of Q3
Covéa will make a decision about whether to keep the Sterling name later in the year after it has consulted with brokers, its CEO has said.