UK
Government launches consultation on dual/multiple discount rate
The Ministry of Justice has launched a consultation on how dual or multiple personal injury discount rate might work, and what its effects on claimants and defendants might be.
Saga suffers ‘unusual breach’ where customers have credit card data leaked
Saga UK has been contacted by an alleged hacker who claims to have credit card information for a whole database of customers, however, question marks have been raised over the legitimacy of the claim.
Salvation Army launches £4 per month contents product addressing 'premium poverty'
With over a quarter of the 22.6 million households still without contents insurance, and with the cost of living crisis looming over society, low-cost and low risk products could start to make a comeback.
Aviva reshuffles claims legal panel; Minster Law partners with AA; Flood Re adds a NED
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Endsleigh partners with Pattern; Ardonagh acquires MDS & Biba appoints deputy chair from Aon
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Q&A: Luisa Barile, Many Pets
After the rebrand to Many Pets, from Bought by Many, and the acquisition of Digital Edge, Luisa Barile, chief financial officer at Many Pets, talks to Post about what’s coming for the new fiscal year.
GRP acquires Flint; Volt partners with Laka; Premfina appoints chairman
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Regulator raises concerns over Copart's purchase of Hills Motor
The Competition and Markets Authority has ruled that the purchase could cause a ‘significant lessening of competition’ in the UK salvage market.
For the record: Lemonade joins the ABI; Lexis Nexis expands to Ireland; Jensten acquires Bennetts
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Disruption from automotive OEM’s ‘wildly interesting’: Guidewire’s Mullen
Automotive original equipment manufacturers getting into insurance space is the “best example” of disruption because it “trials all the way through insurance lifecycle,” said John Mullen, president and chief revenue officer at Guidewire.
Stubben Edge and Helodrium join forces; Specialty MGA UK launches in London; PIB appoints group CFO
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Mark Steward to step down from the FCA
The FCA’s executive director of enforcement and market oversight will leave the regulator in spring 2023 after seven years.
Judge hands insurers win in ‘far from conclusive’ Stonegate, Greggs and Various Eateries BI cases
Justice Butler, one of the two judges on the FCA test case last year, has handed insurers a win today when passing down judgment on the three cases relating to the Covid-19 business interruption losses of Stonegate, Greggs and Various Eateries.
Jensten buys Ravenhall; Six leave Ed for Consilium; HF moves to Media City
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
FCA dealt with less than a quarter of whistleblower cases received in 2021/22
For the period between April 2021 and March 2022, more than three quarters of the whistleblower submissions received by the Financial Conduct Authority are still under assessment.
Briefing: Could Allianz explore direct business again?
A job advert has surfaced where Allianz is looking to expand its direct sales team within the inspections arm of the company. Could this be something that will be explored in the future for other lines?
Blog: Will the risk and costs of legalising e-scooters outweigh the benefits?
With 31 regions across England currently trialling e-scooters as part of the drive towards Net Zero, David Nichols, chief claims officer at Zurich, considers what the consequences of legalising these vehicles will be for both insurers and policyholders.
Telematics watch: How the technology is helping to shape EV insurance
Historically, telematics has been used to rate driver risk to bring down insurance. But the growing popularity of electric vehicles has created driver concerns for which telematics may have the answer. Igo4 CEO Matt Munro discusses how the technology can…
Stubben Edge secures more funding; MS Amlin rebrands; Axa XL appoints chair
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Intelligence: Tackling subsidence surges in a climate change era
With hot summers becoming more likely in the future, subsidence surge and event years may be the new norm. Fiona Nicolson looks at how insurers are preparing for these claims in a climate change environment.
Q&A: Lara Pedley, ISC Group
Lara Pedley, global managing director at ISC Group, speaks to Post about how people used to be scared of diversity, and how the ISC is encouraging the advancement of female leaders in the insurance profession.
Jensten Group not focussed on larger rivals as it targets ‘clarity’ for brokers
The Jensten Group has said it is “always looking at opportunities for growth” but doesn’t want to lose focus on what type of growth it wants to achieve.
July cyber-attack causes backlog for Davies
Davies Group is working to mitigate the impact of backlogs caused by a cyber-attack it suffered at the end of July.
Gallagher partners with Novidea; Zego teams up with QBE; Markerstudy appoints head of fraud
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.