Insurer
Delegated Authorities: From me to you
A recent FCA report poured scorn on the industry over its handling of delegated authority. The regulator’s expectations require change from both brokers and insurers, but how is it going to work?
Insurance Act: Get ready for change
The Insurance Act – the most important piece of legislation to affect the insurance industry for a century – will be a catalyst for the sector to abandon out-of-date practices and reassess the way it does business.
UK PI sector to reach £1.5bn GWP in 2019, Timetric predicts
The UK professional indemnity insurance sector will be worth more than £1.5bn in 2019, advisory firm Timetric has forecast.
Poor customer service and jargon driving motorists to switch insurer
Problems with understanding motor policies have been highlighted by more than half of the customers that took part in a Consumer Intelligence poll designed to understand what drives behaviour around switching insurer.
QBE Europe eyes full year growth after delivering soaring H1 profits
A benign catastrophe period and continued favourable prior accident year reserve development have been credited for an 184% increase in insurance profit to $278m (£178m) at QBE European Operations at the halfway marker.
Trade Voice: Big data, big opportunities…
…and a fair few big challenges along the way as well.
FCA ends Quindell investigation in light of SFO probe
The Serious Fraud Office’s decision to launch an investigation into previous business and accounting practices at Quindell has led to the Financial Conduct Authority discontinuing its own inquiry.
C-Suite: Shipowners benefit from lower rates in economic choppy waters
How have marine insurers responded to the financial challenges facing the shipping industry? Positively, is the short answer; part of this positive response has been deliberate, part has been fortuitous.
QBE gains in first half from asset sales and improved COR; CEO targets growth
Sydney-headquartered QBE saw a 24% rise in first half after tax profits to $488m (£331m) compared with $392m in the first half of last year.
Insurers pessimistic about swift NIHL claims drop despite government action
Government-led measures to clamp down on unmeritorious industrial deafness claims will not trigger a short-term decline in record-breaking claims volumes, according to industry bosses, although the prospect of a Medco extension has been mooted as a long…
Q&A: Niall Mackenzie: Search for solutions
Niall Mackenzie leads the sports betting and e-gaming sector at Google. He outlines the digital lessons the insurance industry could learn.
Insurance Act: Loss Adjusters: The need to change
Loss adjusters may need to change their working practices as the Insurance Act comes into effect
Insurance Act: The Insurance Act timebomb
The clock’s ticking, and now is the time for the market to get ready for the changes ahead.
CMC boss jailed for bogus police car collision claims against Travelers
A claims management company director has been jailed for 12 months for his part in pursuing claims on behalf of an unknowing group of schoolboys who had been involved in a collision with a police car.
Interview: Roger Brown: Back in the black
ECIC CEO Roger Brown turned a loss-making business into one that now boasts a portfolio of big budget infrastructure projects.
UK insurer CEOs lament IPT hike as H1 results are squeezed
Industry CEOs have criticised the government’s "regressive" decision to increase insurance premium tax, but have dismissed the tax hike represents a disconnect from government, amid widespread profit drops and combined operating ratio deterioration at…
Quindell names technology expert Mukerjee as CEO
Embattled outsourcer Quindell has appointed technology and industrial sector stalwart Indro Mukerjee as its new group CEO.
North of the Border: In it together?
Does joint names insurance displace contractual liability or does it depend on the wording?
Penny Black's Insurance Week - 20 August 2015
Penny is not a fan of numbers – other than in relation to how many names she has on her dance card.
Allianz wins judgment on ‘unreasonable’ issuing of court proceedings
Allianz has successfully defended itself from having to pay seven times more in costs for a personal injury case after a judge ruled the claimant had issued legal proceedings prematurely.
Allianz appoints new broker partnership manager
Allianz Insurance announced today (14 August) that it has appointed Stacey Keen to its Retail division as broker partnership manager.
Deloitte promotes Rush to insurance leader
Deloitte has appointed senior audit partner David Rush as insurance head and Europe, Middle East and Africa insurance group co-head.
Blog: Alternatives to claims ratios
There seem to be mixed views from the industry around the viability of the Financial Conduct Authority's review of add-ons - in particular its focus on claims ratios as a measure of value.
Hundreds of London market wordings threatened by Insurance Act
Hundreds of model policy wordings used by the London market may require amendment in light of the new Insurance Act, according to the Lloyd's Market Association.