United Kingdom (UK)
Replacement cover for 30,000 former Alpha policyholders in jeopardy
Broker CRL had found a replacement insurer to take on almost 30,000 Alpha policies, but the potential suitor has raised “several last-minute issues” that are holding up a deal.
Lloyd's Lab selects third cohort for insurtech incubator
Lloyd’s has selected 11 insurtech companies to join the market’s incubator at the beginning of September.
ERS refreshes senior team
ERS has made changes to its senior team, as chief finance officer Kate Wade has chosen to take some time out of the market.
RSA to ‘remain vigilant’ on London Market business
RSA UK & International CEO Scott Egan hailed progress in the first half of 2019, but said the insurer will remain “vigilant” where it comes to its London Market business.
Holiday sickness fraudster given 12 months prison sentence
A holiday sickness fraudster, who persuaded holidaymakers to put in false claims in order to receive a pay-out, has been handed a 12 month prison sentence.
Blog: Government moves on cladding replacement expose insurers’ inaction
Since the Grenfell Tower tragedy just over two years ago, building owners have been removing and replacing unsafe aluminium composite material cladding from their high-rise housing stock across the UK. Joanna Grant, partner at Fenchurch Law, asks why…
IPT becoming government's 'golden goose' as income hits record high
Government income from insurance premium tax hit a record high of £6.3bn in 2018/19, up 7% from £5.8bn collected the previous year, according to an accountancy firm.
Half of insurance firms have not accessed FCA Brexit guidance
Half of general insurance firms have not accessed official guidance on Brexit preparations, a survey found.
Arch beefs up Lloyd's presence with Barbican buy
Arch Capital has agreed to buy Lloyd’s insurance group Barbican.
Q&A: Homeserve Labs chairman, Mark Wood
Homeserve Lab’s Leakbot is currently live and working with a wide range of insurers in the UK, Europe and the US. Post spoke to the company’s non-executive chair, former Axa UK CEO and Prudential UK and Europe CEO Mark Wood, to hear about its plans for…
Direct Line profit slips 10% in H1
Direct Line saw profit slide 10.2% for H1 compared to the first half of 2018.
Insurers told how to improve fair treatment of customers with criminal convictions
Insurers have been issued fresh guidance on how to fairly treat customers who have prior criminal convictions.
Whiplash portal 'being built in a rules vacuum'
The Litigants in Person whiplash portal build may be progressing well, but fraud and a lack of clarity from the government could jeopardise its effectiveness, according to Sabre CEO Geoff Carter.
Nexus buys MGA Plus Risk Limited
Nexus has acquired financial and professional lines managing general agent Plus Risk Limited.
Sabre GWP drops in H1 from ‘intense competitive pressure’
Sabre’s combined operating ratio remained in its target of within the mid-70s range, while premiums shrank 7% in the first half of 2019.
Bupa's Alex Perry on prioritising mental health in the insurance sector
One in four people experience poor mental health each year, writes Alex Perry, CEO of Bupa Insurance UK, arguing that with a quarter of customers affected by the issue it's important that addressing mental health is a priority for the whole insurance…
Hiscox posts H1 profit of $168m, despite higher volume of claims
Hiscox has reported a profit before tax of $168m for the first quarter of 2019, up from a profit of $162.7m on the same period last year, despite a higher volume of claims.
Aston Lark poised for further acquisitions after posting profits in 2018
Aston Lark made a profit during its transformational year.
Insurers warn of rise in motor premiums following the discount rate decision
Government changes to personal injury calculations are set to add to motor insurance costs going forward, insurers have warned.
Analysis: Impact of smart home technology on escape of water claims
In 2018 insurers dealt with 228,000 escape of water claims, at a cost of £617m – an increase from £529m paid out five years ago, according to statistics from the Association of British Insurers. With the rising cost of claims, can technology help reduce…
LV's Clare Lunn appointed to head industry's counter-fraud organisation
Exclusive: Clare Lunn, director of fraud at LV, has been selected as a chair of the the General Insurance Fraud Committee.
Blog: What lies ahead for the future of skills in the insurance industry?
The London insurance market is facing a huge skills shortage as insurance firms struggle to compete for talent. While a huge number of baby boomers are retiring from the sector and taking those long-held skills with them, there is also a distinct lack of…
BLM wins fundamental dishonesty case against opportunistic fraudster
BLM has won a fundamental dishonesty case against a fraudster who claimed for whiplash from an accident where she was not in the vehicle.
JLT’s Tim Chadwick to join PIB as CRO
PIB has appointed Tim Chadwick as chief risk officer, following the departure of Jon Stanley.