UK motor insurers made lockdown savings of £1.28bn as drivers stayed home between 23 March and 31 May 2020, research by price comparison website Hello-Safe has suggested.
Aon will repay colleagues in full, plus 5% of the withheld amount, after cutting the salaries of 70% of its workforce.
Swift v Carpenter: Change needed if costs formula 'no longer fits' purpose, says Personal Injuries Bar Association
If the current formula for calculating serious injury accommodation costs is no longer fit for purpose then it should be improved, the Personal Injuries Bar Association's representative said on the third and final day of the Swift v Carpenter appeal.
Swift v Carpenter: Appeal Court hears arguments on whether market value of property is a fair measure
On the second day of the appeal to a 2018 judgment in Swift v Carpenter relating to serious injury claim accommodation costs, judges heard from further witnesses.
On Tuesday the appeals court heard from expert witnesses testifying on the topic of additional accommodation costs in serious injury claims in appeal to Swift v Carpenter.
Aon UK chief operating officer Nathan Shanaghy and the rest of the leadership team may have been left “humbled” by staff responses to global pay cuts, but that doesn’t mean the broker hasn’t served its workforce up a raw deal.
Two US law firms have launched investigations into whether Willis Towers Watson board directors breached their fiduciary duties or violated other laws around the mega-merger with Aon.
A trio of insurtechs have confirmed early-stage fund raising of almost £20m only one week after the market was warned to expect a slowdown in investment due to Covid-19.
This week started out with more questions than answers as Prime Minister Boris Johnson announced his plans to 'actively encourage' those who hadn't been able to go to work through the lockdown back into the workplace albeit with some heavy caveats.
Consolidation and the global coronavirus pandemic have driven a slowdown in insurtech investment in the first quarter of the year, experts have cautioned, with the worst of the Covid-19 impact on funding yet to come.
Aon agreed to dispose of business and assets up to a cap of $1.8bn (£1.5bn) in 2019 revenues to satisfy competition regulators or else pay a $1bn fee to Willis Towers Watson in order to get its takeover of the rival broker across the line, filings with…
The gender pay gaps of top insurance brokerages showed little movement in 2019, with the divide between the mean pay of men and women shrinking by 0.33% while the gap in median pay grew by 0.34%.
Pet insurance specialist Bought By Many has secured $98m (£78.4m) in growth equity investment led by FTV Capital, having agreed terms sheets with the US growth equity investment firm and five other potential investors prior to Covid-19 lockdown.
Brokers have raised concerns over the future of care home insurance cover as insurers stop quoting new business after care home responsibilities change in light of Covid-19.
The UK and US insurance markets face losses of $80bn (£64bn) if lockdowns and social distancing measures to curb the spread of the coronavirus need to be kept in place for 12 months, according to Willis Towers Watson.
The value of the Aon and Willis Towers Watson merger has “ironically” been reinforced by the impact of the coronavirus pandemic, Aon CEO Greg Case said on Friday.
Making global pay cuts was a “collective” decision that staff have “embraced” since a Monday announcement, according to Aon CEO Greg Case.
Business interruption, the British Insurance Awards shortlist and Q1 results kept us busy this week, but it was a move by biggest-broker-in-waiting Aon that grabbed the most attention.
Willis Towers Watson CEO John Haley said the group could see double-digit revenue decline as a result of the coronavirus impact, as the risk giant yesterday pulled its profit guidance for the year.
Aon’s announcement that it would reduce 70% of its employees’ salaries led to some speculation that soon-to-be acquired Willis Towers Watson and rival Marsh might swiftly follow, but both brokers have since confirmed they will not follow Aon’s lead.
As countries pull the lockdown lever in response to Covid-19 Tom Helm, head of Claims Consulting at Willis Towers Watson, and David Shepherd regional managing director at Solera ask: what do early global repair industry statistics show, what might we…
Market discussions around Pandemic Re options are crucial and serve a "noble purpose", Huw Evans director general of the Association of British Insurers told Post, as he confirmed the trade body is in discussion with Lloyd's and anticipates an invitation…
Aon will cut the pay of 70% of its staff and slice executive pay packets as it seeks to preserve jobs during the coronavirus pandemic, but the broking giant’s decision to go ahead with a May dividend payment seems at odds with its message.