News
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.
Insurtech UK partners with Post for British Insurance Technology Awards
Insurance Post can reveal that Insurtech UK is an official partner of the inaugural 2024 British Insurance Technology Awards.
Admiral reveals plan to grow home and pet books after RSA deal
Following the £115m deal to buy RSA’s direct home and pet business, Admiral’s deputy CEO of UK insurance explains how the business intends to continue to grow these lines.
Questions remain as more brokers sign leasehold pledge
Seven more broking firms have signed up to the leasehold commission pledge in association with the Department for Levelling Up, Housing and Communities.
State National eyes five programmes for first year in UK
Markel programme services subsidiary State National is aiming to have “four or five” programmes up and running by the end of its first year of trading in the UK, Markel International’s Simon Wilson has said.
Ex-RSA employee jailed for stealing and selling customer data
A former RSA employee, who stole customer details and sold the information to claims management companies, has been jailed.