United Kingdom (UK)
Businesses to face bigger costs for ransomware attacks
Businesses are being warned that they could face greater financial fall-out if they become victim to a cyber or ransomware attacks, following the Petya attack on Tuesday.
Interview: Matthew Crummack, Go Compare
When Matthew Crummack took the driving seat at Go Compare a year ago this month, the business was in the midst of a demerger from parent Esure. The CEO of the price comparison site sat down with Ryan Hewlett to discuss his first year in the job, taking…
Group risk: A group safety net
With state benefits set at low levels, the safety net of group risk cover has never been more valuable. But although sales are creeping up, providers and advisers believe there is much more that could be done to grow the market
Government should rethink stance on single market access: Scotland's Brexit Minister
Theresa May’s government should rethink its stance on a hard Brexit and single market access, Scotland's Brexit minister has said.
Watchstone names Stefan Borson as successor to outgoing CEO
Watchstone has named Stefan Borson as the successor to outgoing CEO Indro Mukerjee, who will resign at the end of the year.
Government to introduce ILS framework in the autumn
The Government is to introduce a framework for Insurance Linked Securities before parliament with the hope of getting it up and running in the autumn, the Economic Secretary to the Treasury, has said.
Equivalence is not a substitute for mutual market access agreement: ABI
Regulatory and Solvency II equivalence is not an adequate replacement for a proper agreement on mutual market drawn up by government, the industry has heard.
Autofocus employees sentenced to over five years for fabricating evidence
Seven former employees of Autofocus have been collectively sentenced to over five years after being found guilty of doctoring hire rate evidence to defend insurers in court.
No Brexit deal 'not acceptable' says ABI
Leaving the European Union without a deal is not acceptable if insurers are to continue to meet the needs of customers and remain legally compliant, the Association of British Insurers, will warn today.
Trade voice: Modernising the London Market
The London Insurance Market is unique not just because of its age and history but also because of the way it is structured and the way it operates. Dr Miriam Goldby, of the British Insurance Law Association, examines the potential legal implications of…
Blog: Brokers need to cross-sell more
Brokers need to exploit cross-seeling opportunities to protect their business, writes Nick Mohan, joint managing director at Jackson Lee Underwriting, pointing to gap insurance and other niche covers.
Lloyd's to submit Brussels structure in September
Lloyd’s of London will submit a formal application for its Brussels hub structure in September, the corporation's CEO has said.
Lloyd’s to shed one in 10 jobs in cost-cutting drive
Lloyd’s of London is to strip headcount by 10%, roughly equivalent to 70 staff, as the corporation continues to tackle costs.
UK needs EU transition deal to prevent business failures: Euler Hermes
A transition deal on goods and services between the UK and the European Union is needed to prevent a sharp rise in UK business insolvencies in 2019, according to Euler Hermes.
Insurance adds £40bn to UK economy
The insurance and long term savings sector adds more than £40bn to the UK economy, new analysis shows.
Direct Line hit by unexplained IT outage
Direct Line’s online services suffered IT issues this weekend, leaving customers unable to renew their policies and thereby drive to work.
Blog: Diary of an insurtech start-up, episode 4: The heat is on
As insurtech start-up Digital Fineprint learns about the benefits of collaboration, James Stuart Clarke explains the ins and outs of daily life in the insurtech world.
FCA seeks input on how to help vulnerable insurance customers
Insurance customers are increasingly finding it difficult to navigate the market, the Financial Conduct Authority has warned.
Axa's Gareth Howell on putting customers before innovation
Innovation is currently the talk of our industry for good reason. We are facing potentially challenging times, with start-ups bringing new tech, new ideas and a new outlook to the sector. However, Gareth Howell, managing director of personal direct and…
New solution to allow customers to buy additional policies through Amazon Echo
Software provider CDL has integrated its retail solution, Strata, with Amazon Echo's Alexa bot to allow customers to change and check their insurance policies via a conversation with the robot.
This Week in Post: The Queen's Speech, whiplash and a year on from Brexit
As Her Majesty the Queen delivered her all-important speech to open parliament, insurers had a lot to think about.
Towergate group company to launch under new brand name
The insurance giant created from Towergate and other companies is set to relaunch under a new name and branding, following the completion of a £800m bond offering.
R&Q sells Lloyd's managing agency to Coverys
Randall & Quilter has sold its Lloyd's managing agency, R&Q Managing Agency, to Coverys, a US-based medical professional liability insurer for $22.6m.
Marsh Networks’ David Hopwood on the seven issues a reduced discount rate creates for SME brokers
The Ministry of Justice’s decision to set a new discount rate for personal injury compensation awards at minus 0.75% seems likely to create turbulence in the market. Following widespread criticism, the government is currently reviewing feedback from its…