News
Fully autonomous cars on the road by 2026, claims Transport Secretary
With the Automated Vehicle Bill currently making its way through parliament, Transport Secretary Mark Harper has said vehicles “that have full self-driving capabilities” could be rolled out as early as 2026.
Scope of Luton Airport damage revealed as salvage mission confirmed
Insurance Post can reveal that Copart has been appointed the lead salvage agent for the Luton Airport fire operations when demolition of the car park commences.
Aon buys NFP; ARMD launches MGA; NordVPN offers cyber cover
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Thomas Carroll CEO reveals expansion plans
Hot on the heels of Thomas Carroll Group’s 181 employees becoming owners of the business via a trust, the independent broker’s CEO has shared plans to swell the firm’s ranks and open new offices.
CII transfers £2m to The Worshipful Company of Insurers
The Chartered Insurance Institute Group’s charity, the Education and Training Trust, is transferring its net assets of around £2m to The Worshipful Company of Insurers Charitable Trust.
Sedgwick sees strong demand for seconded claims handlers
Secondees from Sedgwick’s Resource Solutions division have racked up more than 4000 days working in insurer claims handling departments since its launch in November last year, director Adam Baylis has said.
Treasury haul from Insurance Premium Tax up 11%
UK PLC looks set to register yet another record annual Insurance Premium Tax haul as actuarial consultancy OAC reveals receipts for first eight months of 2023 are up 11% increase on the same period last year.
Marsh predicts cyber rates will fall in H1 2024
Marsh expects to see the price of cyber insurance decrease over the first half of next year, noting that its clients have already seen rate decreases in 2023.
Copart CEO hits back at Competitions Authority
Copart’s UK CEO Jane Pocock has hit back at the fines issued to the salvage firm from the Competitions and Market’s Authority.
Allianz sees off university appeal over WW2 bomb damage
The University of Exeter has lost its appeal against Allianz’s application of a war exclusion to damage caused by a Second World War bomb that was detonated in 2021.
Opportunistic fraud claims on the increase in 2023
Sedgwick has reported an increase in low-value and opportunistic claims fraud in 2023.
Jaguar Land Rover launches embedded product following insurance exodus
Jaguar Land Rover is stepping in to offer customer bespoke embedded insurance for their vehicles, amid the difficulties faced by owners in getting cover.
CII appoints acting CEO as Vallance exits early
The Chartered Insurance Institute’s CEO Alan Vallance is leaving months earlier than planned, with an interim stepping into the role as the hunt for a permanent successor continues.
R&Q eyes growing legacy market as Onex sale vote approaches
R&Q has said it is in advanced talks for three deals that would boost its reserves under management by $100m.
Copart fined £2.5m by Competitions Authority
Copart has been fined £2.5m by the Competition and Markets Authority for failing to comply with an enforcement order on three occasions.
RSA on why DEI is driven by hard data
Gemma Jackson RSA’s head of DEI shares how the insurer is taking a data driven approach to improve inclusion and build a competitive advantage in the industry.
Less than 7% of insurance firms have a female CEO
Women make up less than 7% of CEOs in the insurance sector, according to research by specialist employment law firm GQ Littler.
Storm Ciarán spares UK insurers with losses pegged at £1.63bn
Perils has estimated the full losses of Storm Ciarán, which hit the UK and mainland Europe in November this year, at €1.9bn (£1.63bn).
Hiscox and Google collaborate; Axis syndicate; Biba’s 2024 conference theme
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Climate activists paint the city ‘blood red’
Protestors from Money Rebellion, the sister group of Extinction Rebellion, have targeted the offices of UK-based insurance companies in London, Reading, Leeds, Leicester and Colchester.
Aviva CEO Blanc tells MPs about sexism in the City
Speaking at a Sexism in the City Treasury select committee hearing, Aviva CEO Amanda Blanc has said that misogyny and harassment against women in financial services is “amplified”.
Axa names Alain Zweibrucker as CEO of Axa Retail
Axa UK&I has hired Axa Switzerland’s chief financial officer, Alain Zweibrucker, as the new CEO of Axa Retail.
No immediate insurance changes expected from Automated Vehicles bill
The recently announced Automated Vehicles bill, outlining a regulatory framework for self-driving cars, is anticipated to bring minimal changes for motor insurers, according to Axa.
Motor insurance complaints hit five-year high
The latest Financial Ombudsman Service data, published today, shows a spike in motor insurance cases caused by valuation disputes, customer service issues, and delays in payouts.