Property
ERS continues commercial push with two hires
ERS has appointed Ciaran Waters as senior underwriter for US catastrophe and Federico Waisman as head of underwriting management.
Risks taken on by government 'must be in the public interest': HMT's Miriam Sachak
Against a backdrop of calls for the government to underwrite more pandemic-related risks, HM Treasury head of domestic and retail insurance policy Miriam Sachak has said risks taken on by the government "must be in the public interest" and complement…
Insurance Post TV: Is there an end in sight for the insurance cladding ‘crisis’? Plus interviews with Abacai and Zego
Today Insurance Post launches its new ‘magazine-style’ television show, which aims to get under the skin of some of the best read stories and articles that have appeared in print or online recently.
Q&A: Bart Patrick, Duck Creek
Bart Partick, managing director for Europe at Duck Creek, tells Post about how old treacle-like tech systems are crippling the industry, the problems with updates and the need for insurers to adopt software-as-a-service. Along with assessing the rise of…
MS Amlin acquires MGA; Ethos buys 13th hub; insurtech recruits Esure CUO ahead of launch; and PIB bolsters Irish footprint
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Blog: MGAs and the shift in the insurance industry distribution ecosystem
The number of delegated underwriting authority enterprises has grown rapidly over the past 10 years. David Blades, associate director of industry research and analytics at AM Best, explains why this is and what this means for the market.
Policymakers 'fundamentally' mischaracterising pandemic insurance problem, OECD conference hears
Policymakers have mischaracterised the pandemic business interruption problem leading to a solution stalemate, virtual attendees of an Organisation for Economic Co-operation and Development event heard.
Amazon, Apple and Google have opened up the 'mass market' for smart home insurance, claims start-up Hiro
The growth in big tech smart home solutions means it is a lot easier to sell household insurance products that reward adoption than ever before, according to the Neos alumnae behind newly launched insurtech Hiro.
Insurer test case BI claims payouts to March revealed
Data released by the Financial Conduct Authority shows that up to 3 March insurers had paid out £192m towards interim payments and £279m to settle Covid-19 related business interruption claims affected by the regulator’s test case, with Covéa leading the…
Briefing: Covid BI claims and indemnity period clawbacks
Businesses due Covid payouts with longer indemnity periods must be aware of clawbacks – and why it is a gamble whether they accept a full and final settlement now or let their cover run.
BI claims deductions should not leave businesses at 'an overall financial disadvantage', says HMT
Exclusive: Insurers should not make deductions from business interruption claims because insureds received government support during the pandemic if doing so leaves businesses at “an overall financial disadvantage”, the Economic Secretary to the Treasury…
Insurer results directory 2020
Updated: Post tracks the 2020 insurer results season including gross written premium and combined operating ratio - detailing the impact of UK business interruption, weather, motor, home, non-business interruption Covid-19 claims, as well as mergers and…
Clear buys Luker Rowe and HIA International
Clear Group has bought Brokerbility members HIA International and Luker Rowe, Post can reveal.
Lockdown reins in 'Beast from the East Two' claims hit
At the beginning of February, national headlines warned of a ‘Beast from the East Two’ as snowy blizzards, heavy rain and gale-force winds were forecast to batter large parts of the country. But a repeat of the hefty claims dent left by its 2018 namesake…
For the record: Brightside sold to Markerstudy; Aviva acquires Axa XL HNW team; Aston Lark buys Bruce Stevenson and Inflexion invests in broking again
Post wraps up the major insurance deals, launches and investments of the week
Aviva confirms £84m Covid hit as commercial lines book surpasses £2bn
Aviva has posted a combined operating ratio of 98.5% for its UK general insurance business in 2020, reporting growth across commercial lines and progress on its pledge to slash its available personal lines products by 80%.
For the record: Aviva disposals, Beazley creates digital unit, Fenchurch & Partners launches, new D&O MGA Rising Edge and Zurich invests in insurtech
Post wraps up the major insurance deals, launches and investments of the week
Trade Voice: Biba's Steve White on why insurance-bashing headlines won't help small businesses
Steve White, CEO of the British Insurance Brokers' Association, argues that sweeping headlines in the wake of last month's Supreme Court business interruption test case judgment haven't helped anybody.
Helping leaseholders caught up in the cladding crisis in insurance sector's 'reputational interests', says Shadow Economic Secretary
The insurance industry should work to help leaseholders affected by the cladding crisis in order to service not only the national interest but its reputational interests, attendees at the Association of British Insurers’ annual conference have heard.
Allianz BI claims came from broker wordings says CEO Jon Dye as insurer reveals 2020 results
Allianz was hit by £175m of UK Covid-19 business interruption claims in 2020, net of reinsurance, the insurer has said, as LV confirmed 300 redundancies from its Legal & General integration.
For the Record: Ardonagh’s Australian M&A push; Axa in Co-op Bank tie-up; Rock diversifies with new MGA and SSP takeover gets FCA greenlight
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Blog: Wildfires and the rising risk of ‘cascading’ natural disasters
Hélène Galy, managing director of Willis Towers Watson’s Willis Research Network, considers the growing threat of cascading risks.
Blog: Underinsurance in a hardening market
Alistair Steward, Questgates director, mulls the problem of underinsurance for businesses facing a hardening market.
Interview: Rob Brown, Charles Taylor group CEO
After more than four decades spent in underwriting and broking, Rob Brown chose to try his hand at insurance services as group CEO at Charles Taylor last year. He talks to Jonathan Swift about why, given the bountiful opportunities the PE-backed firm has…