Europe
MIB chases agreements with France, Poland and Romania as it builds Brexit contingencies
The Motor Insurers’ Bureau is continuing efforts to secure agreements with France, Poland and Romania to preserve so-called ‘protection of visitors’ rules that would otherwise fall away if the UK is unable to strike a deal with the European Union by 31…
Microsoft data breach: Cyber experts warn of knock-on claims effect
Microsoft’s data breach, which saw details of a reported 250 million customers made available online, could leave insureds facing knock-on phishing attempts and the tech giant facing a fine.
Gefion’s solvency struggles continue after regulator action
Troubled unrated Danish insurer Gefion has seen its 2018 solvency ratio plummet after it was forced to restate accounts.
Insurance Monitor: Insurance: facilitator or inhibitor?
In this month’s column, David Worsfold, a long-running commentator on the insurance market, talks about the fallout from the hardening market, the success of Flood Re and his issues with the Insurance Museum
Insurtech: Insurtech 100: May - July 2019 quarterly update
Hippo, Lemonade and Zego are just three of the start-ups that have been in the news recently. Matt Connolly, founder and CEO of Tällt Ventures, reflects on a what has been happening for the Insurtech 100 since the list was published in May.
Gefion barred from expanding scope until ‘serious liquidity problems’ sorted
Danish unrated insurer Gefion cannot enter new lines of business or branch out into further territories until it can meet its solvency capital requirement, the regulator has ordered.
Trade Voice: Ozlem Gurses of Bila on insurtechs and fair treatment of consumers
Ozlem Gurses, reader in insurance and commercial law at King’s College London and British Insurance Law Association committee member, asks if the oversight of insurtechs is keeping up with the potential damage to consumer protection that new technology…
Ken Randall to step down from R&Q
R&Q has recruited William Spiegel as executive director and deputy group chairman ahead of co-founder Ken Randall stepping down in around 12 months’ time.
This week in Post: Back to business
With the holiday break over, this week has seen people across the UK – some somewhat sluggishly – get back to business.
Gefion ordered to correct reporting error
Unrated Danish Gefion Insurance has been ordered by the Danish Financial Supervisory Authority to publish information supplementing or correcting the company’s 2018 annual report, after it was adjudged to have wrongly recognised the value of a…
Integro rebranded as Tysers and RFIB deal completes
Integro has completed the rebrand of its trading names as Tysers, having bought the broker in June 2018.
Bought By Many eyes Series C round early this year
Pet insurance insurtech Bought By Many has engaged with a number of larger funds as it edges towards a Series C fundraising round in the coming months, CEO Steven Mendel told Post.
Enough capital in 'asymmetrical' reinsurance market: Guy Carpenter
There was adequate capacity to meet rising demand in the reinsurance sector during the 1 January 2020 renewal period, according to Guy Carpenter, however the results for buyers were mixed depending on a range of factors.
Government pledges to deliver long-term market access for UK and Gibraltar firms
The government will take steps to ensure long-term market access for UK and Gibraltar financial services firms, according to a Queen’s Speech briefing document.
Pukka no longer writing new business with Gefion
Pukka Insure stopped writing new business with Gefion in July, replacing it with two A-rated carriers.
Danish regulator demands action as it identifies ‘serious liquidity problems’ at Gefion
Unrated Danish insurer Gefion Insurance must have liquid assets of at least €5m by the end of the year amid fears by the regulator that the company has “serious liquidity problems.”
ICO procedural errors in handling Eldon/Leave EU investigation exposed
The Information Commissioner’s Office will be hoping that procedural bungles do not jeopardise its proposed audit and fines of Eldon Insurance and Leave EU, after its legal counsel was forced to admit standards had fallen “well below” expectations, Post…
Eldon and Leave EU take a ‘two-faced’ and ‘cavalier’ approach to compliance: ICO
Arron Banks’ group of companies take a “two-faced approach” to regulation and the Information Commissioner’s Office should be allowed to maintain its fines and audit against Leave EU and Eldon, a tribunal heard.
ICO fines and enforcement action ‘significant and novel extension’ of regulatory powers: Eldon and Leave EU
Eldon Insurance and Leave EU fines totalling £105,000 and a data audit against the broker levelled by the Information Commissioner’s Office are “divorced from reality,” a tribunal heard yesterday.
German insurtech Wefox targets UK launch in 2020 after $110m fundraise
Berlin-based insurtech Wefox will be opening an innovation hub in London before the end of the second quarter next year, a spokesperson confirmed to Post after the business raised a further $110m (£83.7m) in its latest funding round.
Lemonade hires chief marketing officer
US-based insurtech Lemonade has hired Jeff Brooks as chief marketing officer.
German insurtech Getsafe plots UK launch
Heidelberg-headquartered Getsafe is planning to launch a contents and liability product in the UK in the first quarter of 2020.
Spotlight: Autonomous Vehicles: Is automation the answer to insurers’ nightmares or a dream come true for thieves?
At every trucking fair and trade publication and in each promotional video the industry is demonstrating the advances in autonomous commercial vehicles
Interview: William Stovin, Markel International
As Markel International gears up for more growth across its national markets business and looks to build on its presence in Europe, Jen Frost spoke to Markel International president William Stovin about the history of the business and why Brexit has…