United Kingdom (UK)
ERS reports a decrease in COR following discount rate change
Specialist motor insurer ERS has reported a profit of £3.1m, a decrease on £5.6m for the same period last year.
FCA sounds alarm over Instagram brokers
The Financial Conduct Authority has issued a warning over two brokers operating without a license via Instagram.
Blog: Whiplash portal cannot proceed without government decisions
The deadline for the start of the new litigant in person portal is fast approaching. James Dalton, director of general insurance policy at the Association of British Insurers says there are doubts over whether the necessary decisions will be made in time.
Insurers on standby over ‘unprecedented’ Whaley Bridge emergency
Insurers confirmed they have boots on the ground at Whaley Bridge, after 1000 people from areas surrounding a nearby reservoir were evacuated.
Gallagher Bassett acquires Welsh claims management firm
International risk services firm Gallagher Bassett has acquired the assets of Welsh claims firm, Adjusting Associates, to expand its offerings in the UK.
This week: No hiding place
As we start the month of August, many of us are planning to jet off abroad for a well-deserved break. And for those who do, very few would dream of placing a false sickness claim in order to receive a pay-out that would inevitably land them in jail.
Allianz commercial COR slips
Allianz UK has seen commercial lines underwriting profit slip in the first half.
Trade voice: Paul Nicholls, Mass chair
With the motor claims landscape set to change following the Civil Liability Act, Motor Accident Solicitors Society chair Paul Nicholls airs his concerns over anticipated delays in the progress of the Litigants in Person portal and how a premature launch…
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…