Posts

Showing posts from March, 2022

Lloyd’s picks 11 for latest lab cohort

The insurtechs have been selected based on solutions geared towards four key themes: decarbonisation and climate change; supply chains; data and models; and claims. from Insurer - insuranceage.co.uk https://ift.tt/pHP8ZEr

KGM buys Eridge Underwriting Agency

The MGA forecast the combined business will underwrite £175m in gross written premium this year. from Insurer - insuranceage.co.uk https://ift.tt/S7F5gPJ

Axa opts not to appeal BI ruling in Corbin & King case

The insurer said it is working with the restaurant group to finalise the claim as quickly as possible as well as looking at the impact of the court’s decision on other declined claims. from Insurer - insuranceage.co.uk https://ift.tt/815y3l6

Beazley revamps underwriting team structure

Cyber risks to become a standalone division as part of the changes. from Insurer - insuranceage.co.uk https://ift.tt/uk4daqh

Occam completes Beech buy

The deal was first revealed in October. from Insurer - insuranceage.co.uk https://ift.tt/PRoDVYK

FCA warns of Direct Line clone

Regulator flags Direct Line Sustainability to customers. from Insurer - insuranceage.co.uk https://ift.tt/Kmb2uta

Markel adds Mark Plews from Hiscox as director of underwriting

He is replacing Simon Fells who is retiring. from Insurer - insuranceage.co.uk https://ift.tt/ejxsiBz

Euler Hermes rebrands as Allianz Trade

The provider has been fully part of Allianz Group since 2018. from Insurer - insuranceage.co.uk https://ift.tt/jPag649

Opinion: Legal disputes rise as tough times get tougher

Left reeling by pandemics, volatile markets, rising costs and labour shortages, UK businesses are also seeing a spike in legal disputes. ARAG MD, Tony Buss, explains why demand for legal protection is steadily rising with no quick end in sight. from Insurer - insuranceage.co.uk https://ift.tt/Ybw1nkh

Lloyd’s CEO John Neal in hospital after cycling accident

The marketplace’s leader is expected to make a full recovery after sustaining serious injuries. from Insurer - insuranceage.co.uk https://ift.tt/i8UTWEH

In depth: Employment practices liability: getting back to business?

The disruption to working practices following the Covid-19 pandemic has also prompted major upheaval in the employment practices liability (EPL) market. Tim Evershed reports from Insurer - insuranceage.co.uk https://ift.tt/giGTuLq

Zurich drops ‘Z’ logo in wake of Ukraine invasion

The provider has stopped using the logo on its social medial channels. from Insurer - insuranceage.co.uk https://ift.tt/p2mWKjD

In Depth: Legal expenses cover proves value in volatile times

The turmoil caused by pandemics and politics in the past two years has created an increasingly litigious landscape and served to highlight the value and benefit of legal expenses to businesses, says Tim Evershed from Insurer - insuranceage.co.uk https://ift.tt/WAqi0td

CFC revamps tech and media policies

The provider has streamlined the proposition to remove the need for multiple policies. from Insurer - insuranceage.co.uk https://ift.tt/pSeLylg

Lloyd’s posts underwriting and pre-tax profit for 2021

The marketplace swung back to £2.3bn profit after a loss of £900m in 2020. from Insurer - insuranceage.co.uk https://ift.tt/eMb45S1

Experts respond to “disturbing” motor insurance ethnicity penalty report

Insurers face challenging questions but the Association of British Insurers insists “insurers never use ethnicity as a factor” to price cover. from Insurer - insuranceage.co.uk https://ift.tt/UHrnl2G

Sabre reveals Bennetts partnership and promises flexi insurance broker push

Insurer reported £169.3m of gross written premium and a combined operating ratio of 79.4% for 2021. from Insurer - insuranceage.co.uk https://ift.tt/ODEeFTI

Citizens Advice reveals “shocking” insurance ethnicity penalty

A report found that, collectively, people of colour pay £213m more for their car cover. from Insurer - insuranceage.co.uk https://ift.tt/FiDh9PZ

Sabre reports dip in profit for 2021

Provider delivers a combined operating ratio of 79.4%. from Insurer - insuranceage.co.uk https://ift.tt/LGaogHv

Zurich appoints Will Edwards as head of SME

Edwards replaces Paul Tombs who is leaving the insurer. from Insurer - insuranceage.co.uk https://ift.tt/4IOh8G6

Wiser Academy bounces back with 'outstanding' Ofsted grading

The learning provider has 180 apprentices enrolled and is targeting adding 300 more this year. from Insurer - insuranceage.co.uk https://ift.tt/mx3zthP

Markerstudy rejoins Biba

The business stopped exhibiting at the trade association’s annual conference in 2017. from Insurer - insuranceage.co.uk https://ift.tt/MYmLWyh

Pool Re names Tom Clementi as CEO

Clementi will replace outgoing boss Julian Enoizi. from Insurer - insuranceage.co.uk https://ift.tt/epLlJSO

Top 5: Most read on Insurance Hound in 2022

Whitepapers from Arag, Autorek, ByBits, CRIF and Markel were the most downloaded so far this year. from Insurer - insuranceage.co.uk https://ift.tt/Oxi1FUC

Ecclesiastical Group moves into profit

The business made a loss in 2020 but is back in the black driven by investment returns, improving market conditions and a good current year underwriting performance. from Insurer - insuranceage.co.uk https://ift.tt/1Oroxi0

Final FCA monthly Covid BI claims update puts payout at £1.35bn

Insurers have made £1.05bn in final payments and £303.1m in interim payments. from Insurer - insuranceage.co.uk https://ift.tt/z1R4k3b

GAIN Q&A with Johnny Timpson

The committee and team member of the Group for Autism, Insurance, Investment and Neurodiversity tackles why GAIN was set up, why addressing neurodiversity should matter to brokers and whether the insurance is behind other sectors. from Insurer - insuranceage.co.uk https://ift.tt/nqr1Wl5

Atrium expresses deep regret over misconduct after Lloyd’s issues £1.05m fine

Discrimination, bullying and harassment failures led to the Lloyd’s managing agent’s record-breaking fine. from Insurer - insuranceage.co.uk https://ift.tt/Dp06bEj

Atrium fined over £1m by Lloyd’s for discrimination, bullying and harassment failings

The fine is the largest ever handed down by the Lloyd’s Enforcement Board as it listed charges including an annual “Boys Night Out” that featured initiation games, heavy drinking and making inappropriate and sexualised comments about female colleagues. from Insurer - insuranceage.co.uk https://ift.tt/t10FOGn

Zurich UK names Keppel as chief sustainability officer with Fernqvist becoming COO

The new roles will come into effect on 1 July subject to regulatory approval. from Insurer - insuranceage.co.uk https://ift.tt/WDYtwsM

RSA Insurance unveils trans-inclusive policy for UK employees

The insurer has developed instructions to help employees who are transitioning and give colleagues the tools to help them be supportive. from Insurer - insuranceage.co.uk https://ift.tt/uXRW5qc

Broker Satisfaction Survey: Aviva triumphs in Financial Lines

With little between the top three, and plenty of praise for a range of providers, brokers have shown that the financial lines sector abounds with healthy competition. from Insurer - insuranceage.co.uk https://ift.tt/19bXEaG

RSA reveals 2021 losses from continuing operations

The insurer’s figures were hit by reserving changes and acquisition costs due to the mid-year takeover as net written premiums grew. from Insurer - insuranceage.co.uk https://ift.tt/TknFENU

Arc Legal Group launched

The organisation merges AmTrust underwriting and Legal Insurance Management with Arc Legal Assistance. from Insurer - insuranceage.co.uk https://ift.tt/Nt3aoTk

Insurance sector welcomes changes to Online Safety Bill

The Department for Culture, Media & Sport announced yesterday that the Bill has been adapted to include paid-for scam adverts on platforms like Facebook, Twitter and Instagram. from Insurer - insuranceage.co.uk https://ift.tt/wabYxfo

Government sets 28 March deadline for Russian aviation insurance ban

The UK government revealed the insurance sanctions on 3 March in response to the invasion of Ukraine by Russia. from Insurer - insuranceage.co.uk https://ift.tt/2D9hgmn

RSA’s Mooney commits to simpler, better service for brokers

The MD for UK commercial lines says it is “critical” for the business to focus on how it trades with brokers. from Insurer - insuranceage.co.uk https://ift.tt/y6CgwHE

The stats: Commercial premiums – double trouble as rates continue to bite

Along with the cost of living, the cost of insurance looks set to keep rising too, according to the most recent Acturis Commercial Broking Index. Rachel Gordon reports from Insurer - insuranceage.co.uk https://ift.tt/d8imaon

Ecclesiastical Insurance’s parent rebrands as Benefact Group

Ecclesiastical Insurance and all of the group’s other trading brands including brokers SEIB, Lycetts and Lloyd & White will continue to operate under their own names. from Insurer - insuranceage.co.uk https://ift.tt/1cJUbqg

IWD: The view from the top

Key female insurance figures consider how far women have come in the sector on International Women’s Day. from Insurer - insuranceage.co.uk https://ift.tt/0Wm6byK

IWD: More than 30 years to achieve gender parity

Aviva's Amanda Blanc warns that Women in Finance research shows the financial services sector won’t achieve gender equality for decades unless urgent action is taken now. from Insurer - insuranceage.co.uk https://ift.tt/XuWh97U

ERS posts COR of 98%

The insurer noted there was a reduction in demand in motor but growth in commercial. from Insurer - insuranceage.co.uk https://ift.tt/kZE9fWT

People moves: 28 February - 4 March 2022

Keep up to date with the latest industry news. from Insurer - insuranceage.co.uk https://ift.tt/zRBy9Sg

Lloyd’s open for growth but demanding sustainable performance

Market leader stresses remediation is not a ‘once and done’ exercise as focus increases on catastrophe risks. from Insurer - insuranceage.co.uk https://ift.tt/l4goavK

In Depth: Standing out in the schemes market

Sam Barrett speaks to experts about how to develop successful schemes across a range of niche areas from Insurer - insuranceage.co.uk https://ift.tt/L2aH9RK

Ecclesiastical to expand schemes book with new hire

The Gloucester-based insurer boosted its schemes team with the appointment of Simon McGill. from Insurer - insuranceage.co.uk https://ift.tt/3Bo4URG

UK brings in sanctions blocking Russian access to aviation insurance

AM Best put ratings of suite of Russian insurers and reinsurers on negative watch at the start of the month. from Insurer - insuranceage.co.uk https://ift.tt/mYptFx8

High commission rates factor in Hiscox UK personal lines pull back

The insurer also ended agencies with brokers and revealed it will be looking to double UK business under incoming leader Jon Dye. from Insurer - insuranceage.co.uk https://ift.tt/qGIoM9a

Pool Re ups retro cover to £2.5bn

The three-year agreement triggers if losses top £400m in a year. from Insurer - insuranceage.co.uk https://ift.tt/FnJrRSe

Hiscox chair calls for more consistency and less bureaucracy in regulation

Non-executive chairman Robert Childs has called on regulators to be more flexible, offer more consistency, and prioritise a competitive edge. from Insurer - insuranceage.co.uk https://ift.tt/kSl8vaq

Hiscox UK posts near 10% rise in GWP for 2021

The provider grew commercial lines business while personal lines shrank in the year. from Insurer - insuranceage.co.uk https://ift.tt/YF2SN4a

Amanda Blanc confirms Aviva move to 80 Fenchurch Street

Relocation plans revealed as Aviva reported GWP of £8.8bn for the full year 2021. from Insurer - insuranceage.co.uk https://ift.tt/o9MYf2X

RSA names Cath Frost as regions MD

RSA has appointed Cath Frost as regions managing director replacing Lee Mooney, who was promoted to managing director of RSA commercial lines in November. from Insurer - insuranceage.co.uk https://ift.tt/fuHZdjJ