This Week in Post: cars and courts

It was revealed this week the motor insurance market has recorded its best underwriting result in over 20 years. At the same time, car premiums finally came down.

Post broke several exclusives this week. UK General is close to launching its first personal lines product on a software house and is exploring its options for direct distribution. And Zurich is consulting over a number of claims handler roles as part of an office closure in Leeds.

In other news, Folgate Insurance received approval from the Prudential Regulation Authority to start writing insurance and reinsurance business. It expects its gross written premiums to grow to around £60m over the next five years.

Chubb brought a lawsuit against Harvey Weinstein in the UK, arguing it should not have to pay out for the film producer’s public liability cover as his insurance policies are void. In another legal case, the defence began to close its arguments in the ongoing trial between Das UK and ex-CEO Paul Asplin and others.

The International Underwriting Association published a Brexit contract continuity clause, to tackle claims disruption that could occur with an end to passporting. The Financial Conduct Authority continues to prepare for a range of post-Brexit scenarios, including a ‘no deal’ scenario.

Two weeks after the fire at the Glasgow School of Art, the local MP criticised insurers for not providing enough support to neighbouring residents and businesses whose properties have been cordoned off.

Also in Post this week, as Lemonade suffers huge losses, we examine whether its business model is sustainable in the long term. And our roundtable discusses the best culture to drive technological change. We also look at the kidnap and ransom market, which is conquering the SME space. Finally, we analyse why aviation claims costs are rising.

Enjoy the read, the sunshine, the weekend and see you on Wednesday at the BIA!

Cecile Brisson, features editor
@PostCecile