Insurer
Insurers shifting towards wholly digital sales process, Accenture finds
More than half of insurers globally expect to have a wholly digital sales process in the next three years, according to research from Accenture.
ABI outlines 10 point commitment to flood-affected customers
UK insurers have a critical role to play in the floods according to the Association of British Insurers, who today (9 December) outlined the industry’s commitments to those affected by this week's rainfall in Cumbria.
Fitch warns of insurers' ability to absorb cost of further storms
Fitch Ratings has deemed losses from Storm Desmond will be manageable for insurers but will impact the sector's ability to absorb further weather-related losses over the winter, should they occur.
Changes to insurance contracts standard proposed after insurer concerns
The International Accounting Standards Board has today (9 December) published proposals to amend the existing insurance contracts standard, IFRS 4, after concerns were raised about implementing two significant changes in accounting on different dates.
Post magazine - 10 December 2015
The latest issue of Post Magazine is now available for Post subscribers. Download the latest Post iOS app edition on the App Store or read the Post digital edition online.
Ecclesiastical appoints Edward Creasy as non-executive director
Ecclesiastical Insurance Group has appointed Edward Creasy as a non-executive director, subject to regulatory approval. He will also sit on the board of Ecclesiastical Insurance Office.
Review of the Year: Health
Harnessing technology in increasingly innovative ways has been at the forefront of health insurers’ minds throughout 2015. From wearable technology to web consultations, it’s a market that has had to push more innovative ideas to build their businesses…
Markel launches product for not-for-profits
Markel UK has launched a product for not-for-profit organisations covering three main areas of risk: responsibility to third parties, responsibility as an employer, and protection of property and physical assets.
Blog: Devastation - and determination - a personal account of flooded Kendal
If there is one word to describe what I have seen in Kendal over the last few days, it is devastation. Having lived in the town most of my life, it's heart-breaking to see the usually tidy streets of semi-detached houses with their well-tended gardens…
Chubb introduces cyber-bullying cover for HNW products
Chubb policyholders who become victims of cyber-bullying may claim up to £50,000 towards professional support, lost income and temporary relocation costs under their home policy following changes to the insurer’s private clients offering.
Insurance pricing complaints to FOS increasing
The Financial Obudsman Service has seen an increase in the number of complaints about the price of insurance premiums in the 2015/16 year.
RSA sells entire stake in Russia division
RSA has sold its 75% stake in general insurer Intouch Insurance in Russia.
Man-made BI risk greater than threat from natural disaster
Business interruption claims are largely from man-made events despite risk managers fearing natural catastrophes disrupting supply, according to a report by Allianz Global Corporate & Specialty.
Speciality insurer Fidelis to start underwriting in UK
Fidelis Insurance will launch in the UK after receiving approval from the Prudential Regulatory Authority.
Cornish to exit IAG as Harmer rings changes
IAG's head of personal lines Andy Cornish is to leave after Peter Harmer, IAG's new CEO, reshuffled his senior team starting 9 December.
Editor's Comment: A once-in-100-years opportunity?
This week, as climate change experts gathered in Paris to discuss future targets, Cumbria was hit by its second deluge of flood waters in six years as Storm Desmond ravaged the UK.
Climate change framework sees increased support from insurers
Insurance leaders are mobilising to support a new framework to improve climate resilience, launched at this month’s United Nations Conference on Climate Change, or COP21, in Paris, with companies including XL Catlin already backing the plans with action…
Insurance industry praises flood defences as Cumbria faces second deluge in six years
Insured losses in Cumbria caused by Storm Desmond have been tipped to eclipse the £175m of claims from flooding in the area in 2009, but industry commentators have praised the mitigation impact of flood defences.
Serious motor claims costs rising as government looks to lower premiums
Motor insurers are facing increasing claims inflation on major injury claims, according to a report from the Institute and Faculty of Actuaries, which could affect future earnings forecasts.
Market Moves - 10 December 2015
All the movers and shakers in the insurance industry
Ironshore firming up presence in Europe
Ironshore International is expanding into Europe, opening an office in Cologne.
Six UK finalists in London start-up programme
Technology incubator Start-up Bootcamp has announced the 10 international start-ups that will join its London programme in 2016, including six from the UK.
Q&A video: implications of the Vnuk case on UK motor market
Following the European Court of Justice ruling in the UK government will very soon have to change the rules about what risks are covered by compulsory motor insurance law.