Five biggest challenges facing insurers in 2024 revealed

New 2024 year progress bar on digital lcd display with reflection. Concept of new year, annual plan, growth strategy, business planning, investment trends and strategy road map.

To get you ready for the next 12 months, Insurance Post uncovers five things you need to know about what 2024 holds in store for the industry, according to insurance analysts.

1) Prepare for permacrisis 

Most insurers are realising reacting to risks may not be good enough and are expected to intensify their efforts to prevent losses from happening in the first place in 2024

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FCA commission crackdown goes beyond flats

Editor’s View: The Financial Conduct Authority’s policy statement on multi-occupancy buildings insurance in September plus the decision to push the pause button on guaranteed asset protection insurance sales last week was “a shot across the bow” on percentage-based broker pay.

MP highlights loophole in Leasehold Reform Bill

Matt Brewis, head of insurance for the Financial Conduct Authority, has appeared before a parliamentary committee to discuss the Leasehold and Freehold Reform Bill and been challenged by MPs over whether the current crop of rules ensure insurance costs are reasonable.

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