Regulation
In numbers: The FCA’s business interruption insurance test case
Updated: The Financial Conduct Authority has received 105 letters from MPs concerned about business interruption insurance, 51 relating to RSA’s Cottagesure policies, according a representative of the regulator, who revealed several key stats in his…
Brokers flagged concerns to FCA over ‘long-term’ damage to industry due to BI claims handling
Insurers have been accused of mis-steps in claims handling on four counts by brokers, according to a witness statement from Financial Conduct Authority director of general insurance and conduct specialists Matthew Brewis.
Covid-19 Resilience Survey 2: Two-thirds of insurance staff are not keen to return to the office, while 90% are anxious about using public transport
The majority of insurance staff feel worried or anxious about a return to the office environment, while 90% of those surveyed had major concerns about using public transport to get there a survey by Post has found.
This month: Opportunities await
This month marked the return of Post’s annual Insurtech 100, in association with Sønr, a celebration of companies that are driving growth and innovation across the insurance industry.
Government's £10bn trade credit support package gets cross-industry welcome
Trade credit insurers operating in the UK market will receive up to £10bn of government guarantees, ministers announced today.
FCA's role evolving as 'product value policeman', says CMS
The Financial Conduct Authority’s new guidance issued today is far more than a helpful steer as the watchdog’s “product value policeman” role develops, according to CMS financial services partner Simon Morris.
FCA enacts guidance on insurance value during Covid-19 crisis
The Financial Conduct Authority has brought new guidance into force with immediate effect, telling insurance businesses to consider the impact of the coronavirus pandemic on the value of their products.
Briefing: Business interruption insurance – reported ‘u-turns’ have yet to prove significant
Some insurers have now decided to pay up on business interruption policies, the regulator has said, but just how much of an impact do these 'u-turns' really have on the BI situation and consumer confidence?
R&Q reveals record profits as it unveils growth ambitions
Randall & Quilter Investment Holdings has reported a 180% rise in pre-tax profit from continuing operations to £40.1m for the year ended 31 December 2019.
Insurance Monitor: Can the industry regain control?
In this month’s column, David Worsfold looks at the industry’s stumbling response to Covid-19, the investigation fees travel insurers may face and why Brexit needs to move back up the boardroom agenda
Insurance Covid-Cast episode 18: Brit's James Birch on digital Lloyd's start-up Ki's plan to be a top 10 syndicate by 2025
Ki, the new standalone algorithmically-driven digital Lloyd’s syndicate launched by Brit Insurance in collaboration with technology giant Google, aims to be a top ten player in terms of capacity by 2025.
Gibraltar regulator adds former ABI leader Stephen Haddrill to board
The Gibraltar Financial Services Commission has appointed ex Association of British Insurers director general Stephen Haddrill and former director general of the Association of Independent Financial Advisers Paul Smee to its board.
FSCS 'working with' Gable liquidators after premium refunds court ruling
Exclusive: The Financial Services Compensation Scheme is working with failed insurer Gable's liquidators to understand the impact of a European Free Trade Association court judgment on recoveries, with some of the insurer's policyholders set to lose out.
Insurance Covid-Cast episode 17: As coronavirus hits has Brexit planning fallen by the wayside?
Our expert panel warns that brokers with EU trade who haven't acted already may have left it too late.
Blog: Global reinsurance market - what can we expect to see from 2020?
Very few people have 20/20 vision and there is no exception to this when looking forward to what impact the year 2020 will have on the reinsurance market writes Gavin Coull, London Forum of Insurance Lawyers executive committee member and partner at…
Trio of winter firm failures inflate insurer contributions to FSCS levy
General insurers will pay £8m more in Financial Services Compensation Scheme levy contributions than previously anticipated due to the recent failure of three firms.
Educating and representing during Covid-19: How insurance trade and training bodies are operating remotely
There has been a lot of focus on how different insurance companies have responded to the Covid-19 pandemic, but what about the representative and educational organisations that are part of the lifeblood of the sector? Post content director Jonathan Swift…
Premium finance bosses hail 'smooth' transition to latest guidance
The introduction of further guidance on premium finance by the Financial Conduct Authority including three month payment deferrals for customers hit by the economic impact of the coronavirus pandemic has gone well according to market players.
Regulator to require payment deferrals for insurance customers from Monday
The Financial Conduct authority has confirmed temporary measures aimed at helping insurance customers who find themselves in financial difficulty due to the coronavirus pandemic, including requiring payment deferrals.
Government urged to consider safety ahead of e-scooter trials
The UK government has been urged to “err on the side of caution” when dictating the rules of e-scooter trials next month.
Interview: Pool Re CEO Julian Enoizi
Pool Re boss Julian Enoizi spoke to Post senior reporter Emmanuel Kenning about Pandemic Re, the Office for National Statistics change in the terrorism reinsurer’s classification and using its funds to pay for business interruption claims in the…
Biba CEO Steve White on staying afloat
In an exclusive blog for Post on the day he was supposed to be giving his keynote speech at the 2020 British Insurance Brokers' Association conference, Biba CEO Steve White shares his thoughts on keeping lines of communication open during the coronavirus…
Government to introduce trade credit reinsurance scheme amid coronavirus pandemic
The UK government has pledged support for coronavirus-affected businesses which rely on trade credit insurance through a temporary reinsurance agreement.
Airmic warns insurers of long-term damage to trust from Covid-19 crisis
John Ludlow, CEO of Airmic, has warned that the insurance industry is at a “critical juncture” due to the coranvirus crisis with member surveys suggesting the hardening market is already forcing businesses to look at alternative risk transfer options.