News
Insurance sector reponds to 2026 Budget
John Healey has delivered his first Budget as Chancellor of the Exchequer today (28 October), bringing in a range of changes for SMEs and UK businesses, but notably failed to act on Insurance Premium Tax rates.
Guidewire pays £1.2bn for Hyperexponential
Guidewire is set to buy Hyperexponential for $1.7bn (£1.27bn), with $400m (£300.05m) more payable if recurring revenue targets are hit, as it looks to ‘define’ the use of artificial intelligence in underwriting.
Only 1 in 10 insurers prioritises knowledge-transfer programmes
The insurance industry could risk losing decades of expertise as experienced professionals retire without properly passing on vital knowledge to the next generation.
Pothole claims rise 25%
Motor insurers continue to face pressure from rising vehicle repair costs, after reports found a 25% year-on-year increase in pothole-related claims despite government funding.
Wakam acquired by AmTrust International after ban
AmTrust International has acquired Wakam as the two insurers said the enjoinment will lead to expansion into “new niche products and geographies”.
Aon Re’s UK CEO Andrew Laing passes away
Andrew Laing, CEO of reinsurance for the UK and chairman of global facultative for Aon, has passed away.
Fraudster fails to pull wool over Ifed’s eyes
City of London Police’s Insurance Fraud Enforcement Department is investigating suspected fraudulent insurance claims over the alleged theft of more than 650 sheep.
Insurers step up ghost broking crackdown amid daily discovery
The Insurance Fraud Bureau has warned that at least one new ghost broking network is being uncovered every day, with the UK sector now pooling together to tackle the growing issue.
House of Lords criticises the FCA, saying it ‘must go further’
The House of Lords Financial Services Regulation Committee has concluded its findings around the regulation of travel and home insurance policies in the UK, and said the regulator has “more to do” to address customer understanding and outcomes.
Vehicle design must prioritise function over style
Allianz has said vehicle design must prioritise safety and functionality over style, after reports warned that the more digital vehicles become, the more competition there is for drivers’ attention.
Marrow progresses in ChatGPT race amid regulatory concerns
Firms need AI that can deal with regulatory concerns to succeed in the new “agent economy”, according to Marrow’s co-founder and CEO Tim Graham, as the platform completes its pre-seed round.
Markerstudy to axe 80 roles in latest simplification drive
Markerstudy is removing approximately 80 roles across the group as part of a business simplification programme and strategic shift, Insurance Post can reveal.
Driver distraction raises road safety and insurance concerns
Driver distraction has been highlighted as a growing road safety challenge, with experts warning that tackling the issue will require safer vehicle design, changes in driver behaviour and stronger prevention measures.
CFC report highlights gap in cyber awareness and understanding
Research from CFC has found that while SMEs are aware of the threat of cyber-attacks, most misunderstand the threats they face and the protection cyber insurance provides.
First Central launches agentic AI motor proposition with Microsoft
First Central has launched Motivo, an agentic AI-powered motor insurance proposition, developed with Microsoft.
Zurich’s Ransome says government must improve its apprenticeships
The government must “stop moving goalposts” with its apprenticeship and technical education system as well as promote inclusive work experience said Zurich UK’s Michelle Ransome, talent acquisition manager.
FCA guidance warns about ‘overreliance’ on AI providers
The Financial Conduct Authority has shared examples of good and poor practice with artificial intelligence as it says there is a risk of “overreliance” on individual AI providers.
Howden's pet launch; Brown and Brown's grad programme; Flood Re's chair
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Are all the insurance job cuts necessary?
Deputy Editor’s View: After thousands of redundancies have been announced from all corners of the insurance industry, Scott McGee asks if job cuts are necessary.
Inga Beale urges workplace accessibility for domestic abuse survivors
Dame Inga Beale has urged insurers to help make the workplace more accessible for domestic abuse survivors, arguing that supporting victims would have wider economic and social benefits.
CII has successive female presidents for first time in history
The Chartered Insurance Institute has elected Debbie Mitchell as its next president, with Mandy Hunt following on afterwards.