United Kingdom (UK)
Prima eyes UK reliance following global expansion
Italian-founded insurtech Prima launched internationally with a goal to achieve more than two-thirds of its total premiums solely from the UK market.
60 Seconds With... Heather Ootam, K2 International
Heather Ootam, business application manager at K2 International, shares her advice on planning for success, her passion for piano, and our natural world.
Aviva and Direct Line Group are most-complained about insurers
Data analysis: The Financial Ombudsman Service data shows general insurance complaints have sharply increased in the second half of 2022 as consumers battle with inflation and cost-of-living.
‘Serious concerns’ about Ombudsman power to increase redress awards by 20% in two years
Industry experts shared concerns that the Financial Ombudsman Service's award limits are “very high” and could push small firms out of business.
Insurers are increasing admin fees after ‘loyalty penalty’ ban
Research from Go Gompare found that more products are subject to administrative fees across its car insurance policies since the introduction of the Financial Conduct Authority’s General Insurance Pricing Practices regulations last year.
‘Major reset’ expected in motor personal injury two years on from whiplash reforms
Minster Law CEO Shirley Woolham said following a complex year that saw industry come out of a pandemic and continue to deal with the aftermath of whiplash reforms, the personal injury motor market is transforming into a different landscape.
Ombudsman compensation limit soars to £415K
From the start of next month the Financial Ombudsman Service's award limits will increase from £375,000 to £415,000 for acts or omissions by insurance firms on or after 1 April 2019.
Multiple insurers join neurodiversity campaign
The Group for Autism, Insurance, Investment and Neurodiversity has launched a campaign to push the way the insurance industry operates to better enable and equip neurodivergent employees.
Energy crisis fails to derail insurers from hitting ESG targets
Data analysis: Insurers and reinsurers are managing to stick to their shorter-term goals of cutting underwriting emissions even during the energy crisis.
SVB collapse sparks long-term funding fears for UK tech sector
The collapse of Silicon Valley Bank and a rescue deal from HSBC has raised questions about the future of the UK tech space and startups’ access to funding.
Law firm reprimanded after criminal employee defrauds Aviva
Harwood has been found liable for losses, damages and costs incurred by Aviva after recruiting a solicitor with a criminal record.
Q&A: Tom Clementi, Pool Re
Tom Clementi, CEO of Pool Re, updates Insurance Post on plans for the terrorism reinsurer to switch to a treaty model, and explains recent developments in the UK's domestic terror landscape.
End of Energy Bill Relief Scheme could be ‘final nail in the coffin’ for SMEs
SMEs could face more hardship as the Energy Bill Relief Scheme comes to an end, after the cost of living and energy crises led to over half a million insolvencies in 2022.
Insurtechs send Chancellor ‘thank you’ letter after HSBC rescue of SVB UK
The UK insurtech sector has praised HSBC’s acquisition of the UK arm of Silicon Valley Bank, following its collapse on 10 March.
60 Seconds With... Bobby Gracey, Charles Taylor
Bobby Gracey, global head of fraud at Charles Taylor, tells Insurance Post about his philosophy of respect towards all colleagues, his love of country music, and the continuing influence of his late grandmother on his life.
Progress on gender pay equality slows to a halt
Data analysis: Insurance Post investigates current data on representation, remuneration and recognition of women in the insurance sector.
Q&A: James Baird and Paul Richards, Consilium
Consilium recently brought in Paul Richards to lead the business as co-CEO alongside James Baird, who was appointed CEO in November. Insurance Post asks them how the two-CEO structure works, and how being colleagues for 23 years helped shape the decision.
Ifed secures first Serious Crime Prevention Order
The Insurance Fraud Enforcement Department has obtained its first ever Serious Crime Prevention Order against a fraudster who scammed insurers and lawyers out of nearly £250,000, and its DCI is targeting more orders in the future.
CII & PFS CEOs claim recent talks were ‘never hostile’
In a joint letter addressed to the Insurance Institute of Sheffield, Personal Finance Society interim CEO Don MacIntyre and Chartered Insurance Institute CEO Alan Vallance have insisted interactions between the two bodies since December have never been …
Justice minister refuses to commit to regular fixed recoverable costs reviews
Justice minister Lord Bellamy has refused to commit to regularly updating new or existing fixed recoverable costs (FRCs) for inflation, but confirmed an extension to FRC will be going ahead in October.
Pool Re CEO warns terrorism threat is ‘evolving’ due to the cost-of-living crisis
The cost-of-living crisis has affected SMEs’ ability to afford some types of non-essential insurance products, such as terrorism cover, according to Tom Clementi, CEO of Pool Re.
Ombudsman sees an uptick in travel and commercial property complaints
Data analysis: Financial Ombudsman Service data shows that travel insurance complaints are increasing as people head off abroad on their holidays once again following the Covid-19 pandemic.
Diary of an Insurer: RSA’s Cath Frost
Cath Frost, regions managing director of RSA, starts the week with her coach and ends it by mentoring colleagues and shaping learning and development plans.
Jensten buys three brokers; CFC launches IP solution; Optio appoints CEO
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.