United Kingdom (UK)
Blog: Insurers need to invest in handling subsidence claims
Insurers may not be saving that much money by cutting back on subsidence claims handling, notes Nick Turner, professional services director at Claims Consortium Group, arguing that triage and on-site inspections can help provide a smooth service and…
Claims aggregation: Joined-up thinking
The Supreme Court ruling in AIG has clarified the conditions under which claims can be aggregated, allowing insurers to reduce their exposure, but future cases will remain highly fact-sensitive
NMU declines to comment on rumours of office closures
NMU has declined to comment on rumours that it plans to consolidate its Letchworth, Kent and London offices.
Insurtech start-up Sherpa partners with Gen Re to offer tailored policies
Insurtech start-up Sherpa has partnered with Gen Re in order to provide tailored risk coverage scores personal lines insurance policies.
London failing to stem reinsurance decline, says LMG
The London market is losing ground as a global centre for reinsurance and faces significant challenges in emerging markets and diversity, according to the London Market Group
13 insurance firms make it onto the London Stock Exchange 1000 Inspirational Companies List
Nexus underwriting has made the London Stock Exchange 1,000 Inspirational Companies List alongside 12 other insurance companies.
Reinsurance pricing won't turn this year, says Fitch
Reinsurance pricing is unlikely to change its course over the next year, with soft market conditions expected to continue and further pricing declines anticipated, according to Fitch Ratings.
ERS appoints ex-AA head of counter fraud
ERS has hired ex-AA head of counter fraud, Steve Gaywood, as the new head of counter fraud for the syndicate.
Legal Update: New technology risk in construction
Construction professionals using unproven technologies may inadvertently affect their professional indemnity cover if they fail to disclose all relevant information to their broker and to keep their insurer in the loop, warns Hannah Cane, partner and…
QBE merges underwriting divisions to form 'Brexit friendly' business
QBE is to combine its underwriting divisions to form a single "Brexit friendly" business.
Axa tops Brokerbility bi-annual survey
Brokerbility has completed its bi-annual member survey, with Axa retaining the top spot for the eighth year running.
NHS attack highlights industry's 'wrong direction' on cyber
A ransomware attack on the NHS has highlighted the “wrong direction” the insurance industry has taken on cyber, experts have warned.
MIB appoints Anna Fleming as COO
The Motor Insurers' Bureau has appointed Anna Fleming to the role of chief operating officer, following her role as acting chief claims officer at Zurich.
Updated: Markerstudy flagged as credit risk on Biba Litmus Test
Markerstudy has been flagged up as a credit risk on a ‘litmus test’ of unrated insurers by the British Insurance Brokers’ Association.
Post People 15 - 19 May
The latest people moves in the insurance industry.
Slater and Gordon to make £600m claim against Watchstone
Slater and Gordon intends to make a £600m claim against Watchstone Group by the end of the month.
Blog: Underwriters need to know their knowns and unknowns
Underwriting behaviours can be embodied by three famous Donalds: Duck, Trump and Rumsfeld, observes Nick Dinsdale, portfolio manager at Covéa, adding that quantifying the known and unknown facts will help make informed decisions.
Week in Post: Bonsai trees, jelly beans and the thousand-yard stare
The majority of the Post team started the week as ‘virgins’ of the British Insurance Brokers’ Association annual conference. This morning, I see most of them have the same look in their bloodshot eyes. War veterans call it the thousand-yard stare.
Allianz in talks over acquisition of LV GI unit: Sky News
Allianz Group is reportedly in early talks for the purchase of LV’s general insurance division.
Biba 2017: The best promo items from the conference
Design guru and sheriff of the written word David Whittam was brought tribute from Biba 2017 in the form of assorted freebies. Here he sorts the wheat from the chaff.
ABI calls for dual rate for personal injury payments in Ogden rethink
The Association of British Insurers has suggested changes to the way the personal injury discount rate is set, calling for a dual-rate system for calculating lump sum payments in personal injury claims.
#BibaFever: B-B-Q: What brokers and insurers want from the next government
Delegates at the British Insurance Brokers’ Association conference have asked the next government for some stability.
LMA calls for discount rate change
The Lloyd’s Market Association has called for major changes to the way the personal injury discount rate is set.
Allianz UK reserves and profit take discount rate hit in Q1
Changes to the Ogden discount rate had a £58.3m impact on Allianz’s existing reserves and resulted in a £10m slump in profits during the first three months to March.