News
Allianz makes changes to leasehold products following FCA reforms
Allianz has issued an email to its brokers outlining changes to its multi-occupancy buildings insurance products, which includes capping commission at 30%.
Amazon adds fifth provider to Insurance Store
Amazon has signed-up Urban Jungle to its Insurance Store, making it the fifth insurance provider on the tech-giant’s platform.
Lloyd’s consults on Net-Zero approach
Lloyd’s of London has launched a consultation among member firms on its proposed approach in insuring the low-carbon transition over the next three years.
CII faces more changes at the top
As the Chartered Insurance Institute faces its second search for a new CEO in as many years, the professional body has been hit by further resignations in key roles.
Gove brings Bill banning excessive commission to parliament
Michael Gove, Secretary of State for Levelling Up, has brought a Bill to give leaseholders more power, while banning opaque and excessive buildings insurance commissions for freeholders and managing agents.
Stonegate settles Covid BI dispute with MS Amlin, Liberty and Zurich
Stonegate, the UK’s largest pub group, has agreed a settlement with MS Amlin, Liberty Mutual and Zurich, bringing an end to a long-running legal dispute over Covid business interruption losses.
Ifed in commercial motor fraud crackdown
In the Insurance Fraud Enforcement Department’s recent crackdown on commercial insurance fraud, Axa played a role in verifying motor insurance policy legitimacy.
117,000 drivers found guilty of insurance-related offences in 2022
More than 117,000 drivers were found guilty in court for insurance-related offences in 2022, with a third convicted for keeping a vehicle without insurance.
Axa’s bodycams; Pen’s box at Lloyd’s; Utility Warehouse’s CEO steps down
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Pete Allchorne elected Foil president
Pete Allchorne, partner at DAC Beachcroft, has been elected president of the Forum of Insurance Lawyers.
Allianz suing Revolut for £10.4m over axed travel insurance deal
Allianz is suing Revolut for £10.4m, alleging that the neobank breached its obligations under a deal it struck in 2021 for Allianz to provide travel insurance to Revolut customers.
Insurers urged to back more British environmental reinstatement projects
As biodiversity loss reaches an all-time high, insurers are being asked to consider reallocating funds to help ‘direct action’ projects in the UK to support the country’s depleted ecology.
Hackers issue Sabre with ransom demand following cyber attack
The hacking group behind Sabre’s cyber attack last week has issued the insurer with a ransom demand and given a deadline for which to respond.
Tories announce captive insurance consultation
A consultation on whether to establish a regulatory framework for captive insurance companies will be launched next Spring, according to the Autumn Statement.
Sabre suffers cyber attack
Sabre has today revealed it was subject to a cyber attack last week, however it believes no sensitive data was accessed.
Atec Group chief reveals plan to grow business
Brendan Devine, CEO of Atec Group, has told Insurance Post the foundations are in place to achieve £25m in turnover in 2024 with growth coming from non-standard home insurance.
Sabre chair Andy Pomfret passes away
Sabre has announced that its chairman and McGill and Partners director, Andy Pomfret, passed away at the weekend following an illness.
Insurtech Excellence Award winners 2023 unveiled
The category winners in the Chartis Insurtech Excellence Awards have been announced.
Jail time for claimant who forged daughter’s birth certificate
QBE Insurance, along with Keoghs, have successfully pursued 20 counts of contempt against a claimant who falsely claimed damages of £600,000 following a workplace accident.
Tokio Marine reveals risks faced by London
London’s future is threatened by more extreme flooding and failure to keep pace with technology, according to a new study, with Tokio Marine arguing insurers should help the city prepare for cybersecurity and artificial intelligence developments.
Guidewire looking to London market for growth
Guidewire bosses expect Blueprint Two, the second phase of Lloyd’s digital-transformation strategy aimed at overhauling the way the London market operates, to further accelerate the insurance industry platform provider’s growth in 2024.
Covéa’s Callan appointed retail MD for Brown & Brown
Brown & Brown has appointed Callan as managing director of its Retail Division. Callan previously served as Commercial Lines Director at Covéa before leaving in July.
AssuredPartners’ double swoop; LMA and Liiba’s collab; Pen’s IP proposition
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Hiscox on the limitations of AI technology
Regulations, accuracy and ensuring humans are kept accountable are some of considerations insurers have been warned to factor in to ensure success with artificial intelligence.