United Kingdom (UK)
Q3 nat cats accelerated plans for Ascot Re, says Brooks
Recent natural catastrophe activity across the Atlantic has sped up Ascot’s expansion plans, the group's CEO told Post.
Jelf and Bluefin combined business to rebrand as Jelf
Marsh has revealed that its combined Jelf and Bluefin business will begin rebranding as Jelf from early next year.
Broker saw 5000% home insurance surge in lead up to Ophelia
Broker Cover Builder saw a 5284% surge in home insurance sales in the minutes leading up to storm Ophelia.
Peter Barrett appointed as chairman of Digital Risks
Peter Barrett has been appointed chairman of digital broker, Digital Risks, as it plans to expand across the UK and internationally.
Blog: ‘Keeping mum’, a barrier to consolidating data intel
Insurers want to keep their competitive advantage but should share their expertise to combat fraud, says Lior Koskas, managing director of Digilog UK.
Ophelia to cost industry €60m, says Perils
Catastrophe loss analysts Perils has pegged the market loss for Ex-Hurricane Ophelia which battered the coast of Ireland, at €60m.
Brit launches third-party capital backed specialty reinsurer
Specialty insurer Brit has launched a specialty reinsurance platform, Scion Underwriting Managers, which will take advantage of both Brits own balance sheet, other markets and third-party capital providers.
Ascot launches Bermuda-based reinsurer
Global property & casualty underwriter Ascot has launched a reinsurance business in Bermuda.
Legal Column: Huge changes ahead for PI claims in Scotland
The Civil Litigation Bill going through the Scottish Parliament could have a huge impact on personal injury claims, explains Kate Donachie, associate at Brodies.
BGL spent £4.4m on compliance ahead of now-abandoned IPO
Exclusive: Compare the Market owner BGL spent £4.4m on compliance ahead of a planned stock market float that now will not happen.
Boss of nuisance call CMC given seven year ban from starting new companies
The boss of a claims management company that made 6.4 million automated calls has been banned from acting as a director for seven years.
Post Claims Club: Insurers urged to fix dual pricing or face possible price capping
Insurers will have to find an industry-wide solution for dual pricing before the Insurance Distribution Directive comes into effect, or face possible price capping being forced upon them by the regulator.
Burglary victim sentenced after ‘grossly exaggerating’ claim
A man who “grossly exaggerated” his burglary claim to insurers to the tune of £40,000 has been handed a nine month suspended sentence.
Week in Post: All hail Captain Side Parting
This year’s Budget was rewarding for many reasons: a freeze on insurance premium tax, an increase in research funding for driverless cars, and a dig at Jeremy Clarkson.
Post Claims Club: Industry poised for increased technology integration in 2018
The claims space in 2018 could see a further rise in the integration of Artificial Intelligence and an increase in cyber risks, according to senior industry heads.
UK P&I Club sets up post-Brexit hub in Netherlands
The UK P&I Club has set up a post-Brexit European hub in the Netherlands.
Aviva announces equal parental leave for staff
Aviva has announced a group-wide policy to offer men and women equal parental leave.
Neon looks to MS Amlin and names Heppell as CFO
Lloyd’s carrier Neon has names Richard Heppell as chief financial officer for the group.
Pricing pressure and aggregators will hurt company market in 2018, says Fitch
Intense competition and increasing use of price comparison websites will continue to pressure insurers’ earnings in motor and household insurance, Fitch has warned.
Chubb's Kyle Bryant on helping businesses set up a coherent cyber strategy
Insurers can help businesses develop a more coherent approach to cyber risks, says Kyle Bryant, cyber risks manager for Europe at Chubb.
Blog: Rekindling the broking passion and preserving independence
Broker Network CEO Andy Fairchild urges experienced brokers to mentor the younger generation.
Guernsey-based Chinese insurance company established
Brilliant Reinsurance has become Guernsey’s first Chinese insurance company.
Former Go Compare execs launch anti-fraud network to increase communication
Two ex-Go Compare senior heads have put together an insurance industry networking platform, No Office Walls, that will aim to tackle fraud through increased communication.
Compare the Market owner valued at £2.2bn as investment derails IPO
BGL group has shelved plans for a stock market float for Compare the Market, after an overseas investor bought a 30% stake in the business.