News
Post launches new Benchmarking Service
Insurance Post’s unique service will benchmark UK insurers’ strategies across key areas, including claims, fraud and technology.
RSA acquisition of NIG to close at start of May
RSA’s acquisition of Direct Line Group’s brokered commercial lines business is set to be completed on 1 May.
Canopius loses arbitration over hair salons’ Covid claims
More than 300 small businesses that had claims declined by Canopius did in fact have cover for Covid-19 closures, a judge has ruled following arbitration.
Impact of hidden plastic pipework on claims costs laid bare
Analysis of more than 3000 escape of water claims by McLarens found that “trace and access” cover was required in more than half of all claims (51%).
Deadline to enter British Insurance Technology Awards fast approaching
The countdown has started for you to get entries in for the inaugural 2024 British Insurance Technology Awards (BITAs).
Insurers agree to pause Gap sales amid FCA probe
Multiple insurance firms have agreed to pause sales of guaranteed asset protection insurance, following a request from the Financial Conduct Authority.
Biba’s budget demands; Tokio Marine’s deal with Lavaretus; NFU’s first commercial head
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Carbon markets: the next ‘billion-dollar’ prospect
Oxbow Partners and Kita have underlined the scale of the opportunity for insurers looking to capitalise on carbon markets, and how the carbon credit insurance market could reach $30bn by 2050.
Marine insurers won’t pull cover over Red Sea attacks
There is “no reason” for insurers to withdraw cover for Red Sea shipping amid ongoing attacks on vessels in the region, the Lloyd’s Market Association’s marine head has said.
AI breakthroughs promise sea change in supply chain insurability
Recent technological advancements mean organisations are now able to better understand their supply chains far quicker than they were before, according to Marsh’s head of strategic risk consulting James Crask.
‘Serious questions’ to be answered as MoJ launches whiplash tariff review
The Ministry of Justice has opened a call for evidence into the Whiplash tariff, first introduced in 2021, as part of a statutory review.
Insurance premiums for older pets surge by over a quarter
Owners of older pets saw their premiums increase by more than a quarter last year, according to Pearson Ham’s latest quarterly price index.
Mental health of claims handlers “often overlooked” says CII
The Chartered Insurance Institute’s New Generation Programme Claims group has today published a report calling on the industry to heighten understanding of second-hand trauma.
Zego co-founder Harry Franks departs insurtech
Zego co-founder and former CEO Harry Franks has stepped away from the insurtech, Insurance Post can reveal.
UK bolsters ‘special relationship’ with Gibraltar
Melissa Collett, CEO of Insurtech UK, shares how Gibraltar’s “speed to market” offerings have won over UK insurtechs as they seek authorisation.
Lee Mooney to leave RSA after 26 years
RSA has today announced that Lee Mooney will leave the business after more than 26 years at the insurer.
Howden increases global revenue by a third
Howden has announced further growth for the year ending 30 September 2023, fuelled by 56 acquisitions across the globe.
Zurich accuses Greensill of fraud in £300m lawsuit defence
Zurich has accused Greensill, its founder, and companies connected to it of operating a “fraudulent scheme” in its defence in a lawsuit brought by the administrators of Greensill Bank.
Lords call for ‘regulatory clarity’ on EV batteries
A House of Lords report on electric vehicles has outlined what the government must do to reach its ambitious EV adoption targets.
Insurers warned Consumer Duty checks cannot paper over cracks
Insurance chiefs and boards must produce an annual assessment of compliance with the Consumer Duty that highlights flaws rather than papers over cracks, a former Financial Conduct Authority leader has warned.
Rental property shortage sees insurers turn to pods
A shortage of rental accommodation has resulted in providers talking to pod providers about rehoming policyholders in these structures while their homes are repaired, Insurance Post can reveal.
Zywave on how cybercriminals are weaponising AI
Jim Blinn, vice president of client solutions at Zywave, explains what artificial intelligence unknowns lay ahead in 2024 and what businesses can do to protect themselves against incoming cyber attacks.
AA buys Key Care; RSA launches hub; Gallagher Re’s Melia to retire
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Longworth’s AI Code of Conduct officially launched
A voluntary code of conduct for the use of artificial intelligence in the claims industry has been launched, boasting support from Questgates, Covea and Ecclesiastical.