News
Lloyd’s urged to change approach to Blueprint Two
Lloyd’s of London may need to take a “more progressive route” to achieve Blueprint Two to ensure specific benefits of the transformation are realised.
SRG buys broker; Lockton’s space practice; Markel’s head of casualty
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
NFU Mutual hit by lawsuit over Covid losses
A group of more than 30 businesses are suing NFU Mutual for Covid losses suffered between 2020 and 2022.
Green shoots, but claims managers predict inflation to continue into 2025
Senior claims managers are seeing property claims inflation ease, but expect it to remain high for the foreseeable future; with suppliers turning their backs on insurance work being cited as a factor.
Atlanta Group and Markerstudy merger completed
The Ardonagh Group has confirmed it has completed the merger between its personal lines broking business Atlanta Group and Markerstudy.
Insurers accused of exacerbating property damage
Panellists at the British Damage Management Association conference have accused insurers of slowing down the property claims process, increasing the amount of damage, due to inactivity and lack of trust for their supply chains.
Regulators challenge two thirds of GI firms on operational plans
Two thirds of general insurance firms have been challenged by regulators on their work to come into line with operational resilience regulations during the last 12 months, a benchmarking exercise by Sicsic Advisory and Oric International has revealed.
Lessons to be learned from Build Back Better
Panellists at the British Damage Management Association Conference said lessons must be learned in order to maximise the value of Flood Re’s Build Back Better scheme.
FCA demands insurers up their Consumer Duty monitoring game
With just a month to go until insurers need to file their first Consumer Duty annual board report, the Financial Conduct Authority has raised concerns about how providers are monitoring customer outcomes.
Aviva sees 65% increase in non-whiplash injury claims
Non-whiplash-related injury claims have jumped by nearly two-thirds since the whiplash reforms, Aviva’s head of counter-fraud Pete Ward has told Insurance Post.
Academy names CEO as Normand steps back
Academy Insurance Services has appointed Martin Tyler as CEO, replacing Gilles Normand, who has stepped down to move into a non-executive career.
‘Stripped-back’ policies may lead to consumer confusion
Fairer Finance has warned that ‘stripped-back’ motor insurance policies may lead to greater consumer misunderstanding unless insurers begin to communicate clearer.
Admiral expands fleet focus with Flock partnership
Admiral Pioneer, Admiral Group’s venture-building business has entered into a partnership with Flock, the commercial fleet insurtech, to offer customers real time safer driving data.
Instanda CEO 'taken aback' by rival tactics
Instanda CEO Tim Hardcastle has claimed “established” insurtech providers are far from “fair and open” when competing with his business for deals with major insurance companies.
Insurtech UK demands MPs tackle barriers to insurtech growth
Insurtech UK has called on the government to tweak regulation to help start-ups and outlined ways to boost the funding available to scale-up more businesses to Lemonade-like proportions.
Cila’s latest hire aims to boost membership
The Chartered Institute of Loss Adjusters has hired former Dulwich College donor engagement manager Sarah McAvoy-Edwards to boost membership numbers and increase uptake of qualifications.
Direct Line raids Aviva again for another exec hire
Direct Line Group has raided Aviva once again, this time for its new group chief risk officer.
R&Q sells UK legacy insurer as it files to appoint liquidators
R&Q has agreed to sell UK legacy insurer Inceptum to Marco Capital and has confirmed that it has filed to appoint liquidators in Bermuda.
Atec aims to ‘accelerate’ growth after being bought by Perwyn
Atec’s growth ambitions were given a boost today (24 June) after European private equity investor Perwyn bought the business from Kester Capital.
CFC developing cyber product to spur international expansion
CFC is developing plans to enter new markets around the world through white-labelled cyber insurance products, CEO Louise O’Shea has said.
Insurance Post Census 2024: Have your say
Insurance Post’s Census is back, and we need your help to achieve a snapshot of the make-up of the industry in 2024.
Plugable’s charger scheme; FSCS’ claims partnership; Aon’s broking head
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Axa reveals AI pilots being rolled out across business
Axa has more than half of its artificial intelligence use cases already in production, according to Axa XL chief innovation, data analytics officer Ashok Krishnan.
Blueprint Two rollout hit by more delays
The first phase of the rollout of Blueprint Two has been pushed back again, due to testing of the technology running behind schedule.