United Kingdom (UK)
Cross-industry code of practice on flood resilience debuts
A code of practice for property flood resilience aimed at homeowners and industry bodies was yesterday launched at Parliament.
Unsecured creditors of Elite face around £70m shortfall
Elite’s administrators expect around £315m in unsecured claims, but have identified under £246m in assets available.
Markerstudy not 'exercised' by May debt deadline
Markerstudy is in discussions with Qatar Re over the repayment of its $316m (£244m) loan ahead of the next deadline of May this year, group underwriting director Gary Humphreys told Post.
Gallagher UK appoints Jonathan Turner as specialty CEO
Gallagher has announced a number of senior people moves in its specialty broking and underwriting divisions.
Analysis: Insuring care for the elderly – is the insurance sector up to the challenge?
Prime Minister Boris Johnson may be the Brexiteers’ main man, but can he also deliver the goods when it comes to caring for the UK’s growing elderly population?
French insurtech Luko plots UK entry
Exclusive: French insurtech Luko revealed it will aim to enter the UK market in 2020, as it hired Admiral's chief actuary in France.
Claims surge with Storm Ciara impact set to continue
Insurers and loss adjusters are reporting a surge in claims and calls, as they warn more disruption and damage is expected after Storm Ciara hit the UK over the weekend with winds of more than 80mph.
Premfina no longer funding Gefion premiums
Exclusive: Premfina is no longer funding premiums for unrated Danish insurer Gefion.
Gallagher and hotel group reach agreement over alleged Heath Lambert 'secret profits'
Gallagher and Bloody Bay, which is locked in a legal battle with Besso, have reached an out of court agreement over alleged “secret profits” taken by a former Heath Lambert and later Besso employee, Post has learned.
Motor Mouth Podcast 3: Car repairs in the digital age
In the third of our series of podcasts with Motor Insurance World speakers Mike Partridge, paint and body business manager at Volkswagen UK, is interviewed by Post’s content director Jonathan Swift, outlining what challenges insurers can expect to come…
Laka to open Netherlands hub and roll out ‘wellness’ product after seed raise
Following a seed raise bicycle insurance insurtech Laka will open an office in the Netherlands and look to offer a ‘wellness’ product, CEO Tobias Taupitz told Post.
Admiral staff to get bumper bonus as predicted profit soars
Admiral is expecting to see profit before tax of £510m to £540m for 2019, with its staff to each receive a £500 bonus.
Blog: Controlling the business impact of Coronavirus
The human impact of Novel Coronavirus has already been devastating – around 500 deaths so far, and nearly 25,000 people have been infected. Simon Worrell, global medical director at Collinson, explains that businesses can play a significant role in…
PE driving market consolidation but private ownership still dominates
Exclusive: Private equity houses and PE backed firms were behind more than 50% of UK insurance distribution mergers and acquisitions activity last year in the £5m plus category, Imas Corporate Finance has calculated.
Insurers accused of profiting from limitation law in child abuse cases as review concludes
In the closing statements of the Independent Inquiry into Child Sexual Abuse proceedings insurers were accused of profiting from limitation law and withholding payments even when convictions were made, as survivors urged for changes to the law and a…
MIB uninsured drivers scheme mooted as template for child abuse compensation payouts
A model similar to the Motor Insurers' Bureau's untraced and uninsured drivers payout scheme has been suggested as one way survivors of institutional child sexual abuse could be compensated.
Beazley aims to halve costs as COR creeps up in 2019
Beazley hopes to slash its expense ratio in half as a result of the proposed widespread reform of the Lloyd’s market and internal investment in automating simpler classes of business.
Andy Fairchild to lead Applied in UK
Former Broker Network CEO Andy Fairchild has been appointed to the newly created role of CEO of Applied Systems Europe.
Blog: What are the implications of increased ground aviation collision claims for insurers?
An aircraft can land smoothly in fog at 160 knots directly on the centreline and not run off a runway, but there are still slow speed collisions on the ground explains John Bayley, regional director for Europe and Russia at McLarens Aviation.
Penny Black's Social World: February 2020
Creative & Innovation Awards, managing flood risk and recognising carers
Editor's comment: The lesser-spotted hard market
The world has long held a fascination with mythical beasts and the younger generation is picking up the passion with Smallfoot, Abominable and Missing Link the latest in a long line of films to encourage children to believe in the magic of the Yeti or…
Analysis: Reinsurance hikes add to motor pricing pressure
The UK motor market had the unwanted title of the biggest riser in the annual global reinsurance renewal season this January, adding another reason for intense scrutiny on insurance pricing in the loss-making sector
Staveley Head enters administration after insurer contract 'prematurely terminated'
Managing general agent Staveley Head, known to have used Gefion and Qudos capacity, has entered administration.
Crawford appoints Caroline Poppleton as D&I inclusion leader in UK
Caroline Poppleton has been appointed diversity and inclusion leader for Crawford’s UK operation alongside her current role as head of business development.