United Kingdom (UK)
GDPR consultation fails to address 'key concerns' of industry
The insurance industry has critcised the government statement of intent on the new data protection bill saying it fails to address concerns on processing sensitive data without obtaining explicit consent.
Businesses could face £17m fine for lack of cyber protection
Businesses that fail to protect their services from cyber attacks could face fines of up to £17 million, the Department for Digital, Culture, Media and Sport has warned.
CII could raise £19m from sale of Insurance Hall
The Chartered Insurance Institute could potentially raise £19m from the sale of its historic Aldermanbury building.
Keoghs in talks to acquire Hill Dickinson’s insurance business
Law firm Keoghs is in talks over the acquisition of Hill Dickinson’s insurance business.
Tough market sees 57% drop in number of claims firms
The number of claims management companies has more than halved in the past six years, according to official figures.
Flood-hit business owner sentenced for fraud
A flood-hit shop owner has been ordered to pay compensation after attempting to falsely claim £107,000 from her insurer.
Analysis: The age of consent
Insurers will need to get the consent from their policyholders to collect their personal data, under regulation coming into force next year
BILA's Melissa Collett on five ways insurers can increase consumer trust
Melissa Collett, director at Fairer Finance and committee member of the British Insurance Law Association, describes five ways insurers can increase consumer trust.
Commercial insurers' claims handling failing SMEs
Commercial insurers are failing to give their SME customers a satisfactory claims experience, with 70% saying that their interim and financial claims amounts had not been agreed promptly enough.
Lathrope replaces Walker as SSP CEO
SSP has appointed Steve Lathrope as its CEO, replacing co-founder Laurence Walker in the role.
IPT petition shelved due to concerns over ‘longevity’ of government
An industry-led petition against Insurance Premium Tax increases has been postponed due to concerns over the “longevity” of the government.
Ecclesiastical denies finding of church abuse inquiry
Ecclesiastical has hit out against accusations it advised the Church of England to sever ties with abuse victims.
Chubb's Sara Mitchell: Stuck in the mid-market?
The middle market is the engine room of the UK economy, says Sara Mitchell, head of corporate division, UK & Ireland, Chubb, urging insurers to work closely with brokers to support this sector.
Allianz and LV to remain competitors until first half of joint venture deal is completed
Following the announcement that Allianz will buy 49% of LV’s general insurance commercial business, both parties have said that they will remain competitors until phase one of deal is completed at the end of 2017.
MoJ declines to give date for release of Ogden consultation feedback
The Ministry of Justice cannot give a date for the release of the discount rate consultation feedback.
'Broad organic growth' behind Aviva success as investment in tech curbs expenses, says Holmes
Maintaining “ broad organic growth” has been a key driver of success behind Aviva’s half-year results, said Aviva UK’s CEO Colm Holmes.
This Month in Post: AIG's UK CEO, BIA photos, terror car hire and tower fire
A look at this week's insurance news and this month's Post issue.
Obituary: Mike Hannan, a ‘venerable institution’ of Lloyd’s
Mike Hannan, a “venerable institution” of the London insurance market, has passed away this week aged 74.
Allianz UK sees drop in profits as COR improves marginally
Allianz UK saw its combined operating ratio marginally improve in H1 2017 despite deteriorating operating profits.
Allianz LV deal precursor to more European activity in UK market, brokers say
Allianz’s purchase of 49% of LV’s GI unit could be a precursor to further UK market activity from European insurers, brokers said.
Allianz to buy 49% of LV GI for £500m
Allianz will buy 49% of LV’s general insurance business as part of a long-term partnership which will see the creation of the UK's third largest personal lines insurer.
More innovation to come from Axa as it looks towards driverless cars
Axa has said it will be looking to increase its involvement with insurtech and ‘lead the way’ on driverless cars, following recent insurtech partnerships.
Ogden change sees Esure's reinsurance costs rise by a third
The change to the Ogden discount rate added a third to the cost of Esure’s reinsurance, company results have revealed.
LSM launches fine art and specie in the Netherlands
Liberty Specialty Markets is to begin underwriting fine art and specie in the Netherlands.