Insurer
Personal and commercial profit pressures spark insurers' wholesale interest
Growth ambitions have been pegged as the main driver behind prominent UK insurers expanding their wholesale market presence with competitive personal and commercial lines conditions forcing insurers to deploy capital elsewhere.
Naming of storms to potentially impact apportionment of claims
The Met Office’s new policy of naming storms that make landfall in the UK could have a significant impact on the apportionment of claims between direct insurers and their reinsurers in the excess of loss market.
Milburn CEO McIntosh banned by PRA after failed PI insurer fined £2.86m
The Prudential Regulation Authority has today imposed a £25,173 fine on Colin McIntosh, CEO of Millburn Insurance and has banned him from holding any controlled functions at any PRA-authorised firm.
FCA issues £15.5m in fines to fill hole caused by Eric, Balva and Millburn failures
The Financial Conduct Authority has fined five individuals and two firms a total of £15.5m for their part in a market failure that left hundreds of solictors without valid cover.
ABI blames tax hike and CMCs for 8% rise in motor rates
The rise in insurance premium tax along with the activities of certain claims management companies have been blamed for an 8% uptick in the average private car comprehensive motor premium over the course of 2015.
Government pledges £20m for driverless cars projects
The government has announced a further £20m of funding for projects developing driverless cars with consortia including members such as Axa and Direct Line Group among the beneficiaries.
Chubb announces distribution managers and regional leaders
Chubb has announced two distribution management appointments for the UK and Ireland in the hires of Jon Houghton and Jon Nottingham.
Compulsory microchipping for dogs leads to calls for unified pet register
A unified pet register to counter fraud has been championed by pet insurance software firm Aquarium ahead of the implementation of compulsory microchipping for all dogs in England.
RSG completes purchase of MGA George & Partners
Ryan Specialty Group has acquired specialist managing general agent Hunter George & Partners.
Canopius rebrands as Sompo Canopius
Canopius today unveiled a new visual identity and confirmed that it is now operating under the brand Sompo Canopius.
LV boss O'Roarke to become chairman of Horwich Farrelly
Outgoing LV general insurance managing director John O’Roarke has been appointed chairman of insurance industry law firm Horwich Farrelly.
UK cyber market to resemble US amid tougher EU penalty regime
The UK insurance market is expected to increasingly follow its US counterpart as incoming EU legislation substantially toughens up penalties for data breaches.
C-Suite: Traditional behaviour is incompatible with technological paradigm
Matthias de Ferrieres is sceptical if the industry will have a digital awakening this year.
Insurers appetite for cyber risk questioned in light of HSBC hack
The capacity and appetite of insurers for covering cyber risk has been put in the spotlight once again following today’s cyber attack against HSBC.
Union planning to intervene in RSA's Birmingham closure
Unite Union is planning to enter into discussions with RSA over its decision to close its Birmingham office putting 190 staff at risk of redundancy.
Greater exposure for insurers following 'sexting' case
A legal expert has warned that the threshold for a successful civil ‘sexting’ claim appears extremely low, following a recent High Court case, and that insurers will be impacted.
Quiz of the week – 29 January
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Blog: Towards the uberisation of claims?
Discussion in the insurance claims sector is increasingly about how customer care can be improved while keeping expenses down. And all eyes are turning to smart technology, believed to be capable of playing a role here.
Chubb confirms UK and Ireland underwriting management team
Chubb has unveiled its new underwriting product line management team for the UK and Ireland business following the acquisition by Ace.
Ifed interviews 13 suspected fraudsters in two days of intense activity
A woman who was seen bungee jumping on TV after claiming she injured her back at work was among those targeted by officers from the Insurance Fraud Enforcement Department in two days of activity aimed at suspected bogus claimants.
Dual Group interim CEO takes on role permanently
Hyperion Insurance Group has confirmed interim Dual Group CEO Talbir Bains will step into the role full time.
Chubb partners with Crawford on cyber incident response platform
Global loss adjuster Crawford & Company has teamed up with Chubb to provide the insurer’s clients with a single point of contact and an around the clock response platform to report cyber incidents.
Bailey planning more moderate FCA approach
Incoming Financial Conduct Authority CEO Andrew Bailey will not take the "shoot first ask questions later" approach of his predecessor Martin Wheatley when he joins the regulator in July.
Blog: Telematics from niche to mainstream
As the sector develops, expect to see advances from insurers and growing acceptance from consumers - this technology is here to stay