Insurer
Munich Re expects 'triple-digit million euro' losses from Beirut blast and recent hurricanes
Munich Re expects its losses from August’s warehouse explosion in Beirut and a trio of recent North Atlantic hurricanes to both reach “low triple-digit million euro” sums.
Lockton accused of forging Axa documents in High Court fraud case
Property investor Aubrey Weis has accused Lockton of forging Axa documents and altering an insurance certificate issued to his company Combined Property Control in a filing at the High Court of Justice in London.
Irish regulator settles with former Quinn director
The Central Bank of Ireland has reached a settlement with former Quinn Insurance director Kevin Lunney.
Government launches review of Pool Re
HM Treasury is embarking on a five year review of Pool Re, it was announced today.
Zurich picks Tim Bailey to replace Tulsi Naidu as UK CEO
Tim Bailey has been named Zurich UK CEO, moving across from being group chief operating officer for Europe, Middle East and Africa.
Tulsi Naidu to depart as Zurich UK CEO
Zurich’s Tulsi Naidu is set leave her role as UK CEO to take up the position of Asia Pacific CEO in Singapore from 1 January 2021.
Co-op faces union protest against Markerstudy job losses
Today members of trade union Unite the Union gathered outside the Rochdale Pioneers Museum in Greater Manchester to oppose incoming job losses at Co-op insurance and the de-recognition of the independent trade union on its sale to Markerstudy.
Protesters welcome workers back to Lloyd’s
A group of climate advocates welcomed Lloyd’s employees back this morning as the underwriting hall opened for the first time since March.
Hurricane Laura insured loss estimates range from $4bn to $12bn
Early estimates of the insured losses resulting from Hurricane Laura range from $4bn to $12bn, with the damage concentrated in southern Louisiana.
Insurer home and motor pledges to continue until end of October
Home and motor insurance pledges made by the Association of British Insurers to support customers during the Covid-19 crisis will remain in place until at least 31 October following an extension.
QBE CEO Pat Regan leaves insurer after investigation
Pat Regan, QBE group CEO, will leave the business following an investigation into “workplace communications.”
Climate protesters expected at Lloyd's today
Climate advocates calling for Lloyd's to “wash its hands of coal and tar sands” are expected to gather outside the Lloyd's building this morning as the underwriting room reopens.
Bupa’s Alex Perry on risk and insurance in a post-Covid world
The sector has shown how well it can quickly adapt its services to care for customers, says Alex Perry, CEO of Bupa Insurance UK, but it must also learn from the pandemic crisis and plan for the next big event.
Updated: Over one million homes at risk as Hurricane Laura brings ‘unsurvivable’ storm surge to US Gulf Coast
Hurricane Laura, which made landfall in Louisiana early this morning as a category-four storm, has the potential to impact 1.1 million homes worth $265bn in terms of reconstruction cost value, according to Core Logic.
Storm Francis eyes UK as August weather claims continue
The Met Office has issued further wind and rain warnings for today as storm Francis hits the UK, while the impact of Scottish floods continues to be felt.
Analysis: Broker PI rates going 'through the roof'
As brokers grapple with soaring professional indemnity rates and attention sharpens on the potential for claims in the wake of the ongoing Financial Conduct Authority business interruption court case, Post investigates what the eye-watering price changes…
Automated lane keeping systems advent raises insurance challenges
Insurers have welcomed the government’s consultation into the safe use of automated lane keeping systems in vehicles but warned against making the “huge leap” of believing this “clever bit of technology” is the same as an automated car.
Competition watchdog opens inquiry into Bupa’s CS Healthcare takeover
The Competition and Markets Authority has opened an inquiry into Bupa Insurance’s proposed merger with CS Healthcare, a Friendly Society with approximately 18,500 members originally set up in 1929 to provide health insurance cover for members of the UK…
Interview: Craig Thornton, Lloyds Banking Group and ABI
In June, Craig Thornton, general insurance and protection director at Lloyds Banking Group, was announced as the chair of the Association of British Insurers’ General Insurance Council, replacing Andy Watson as he stood down as CEO of Ageas UK.
Direct Line told to pay former employee £37,000 for unfair dismissal
Direct Line has been ordered to pay £36,998 to a former employee who claimed they were unfairly dismissed, Post has learned.
Sabre chairman Patrick Snowball’s successor named as Andrew Pomfret
Sabre senior independent director Andy Pomfret will take over from the insurer’s chairman Patrick Snowball at the beginning of September.
Analysis: Ethnicity pay gap reporting - getting the ball rolling
With growing pressure on the government to introduce mandatory ethnicity pay reporting to measure inequality in the workplace, Post investigates what steps the industry is taking to prepare and what is still to do.
RSA and Enstar insurers in £1.1m Haringey Council child abuse court actions
Enstar-owned Mercantile Indemnity has been ordered to pay out £1.1m after an appeal against a Haringey Council child sexual abuse payout failed. Mercantile appealed a 2019 judgment where RSA was the original insurer after it inherited the claim as part…
Analysis: A tale of two mutuals
Eleven days apart in June, two of the UK’s mutual insurers – Police Mutual and LV – made announcements regarding their futures. Their decisions herald challenging times for the mutual model.