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Showing posts from April, 2022

ABI puts February storm payouts at £500m

The Association of British Insurers has updated that insurers are facing a £497m bill from storms Dudley, Eunice and Franklin which battered the UK in February. from Insurer - insuranceage.co.uk https://ift.tt/JnZoC5G

Blog: Helping clients adopt MFA as a critical layer of cybersecurity

Davis Kessler, of Travelers Europe, explains why multi factor identification is a key weapon for businesses and brokers as they seek to prevent cyber attacks from Insurer - insuranceage.co.uk https://ift.tt/M3TbamU

Zurich UK refreshes small fleet cover for electric vehicles

Zurich UK has added new cover and wording to its small fleet policy for firms with between two and 20 vehicles. from Insurer - insuranceage.co.uk https://ift.tt/I8gNWXK

Arag posts £1.9m pre-tax profit for 2021

Arag has reported a pre-tax profit of £1.9m for 2021, up on the £500,000 achieved the year before. from Insurer - insuranceage.co.uk https://ift.tt/Iqpa9ES

Blog: Bona fide sub contractors – a hard sell?

Martino D’Aliesio, lead underwriter – casualty at Ensurance, on the key questions for brokers to guide their construction clients through the complex bona fide sub contractors area. from Insurer - insuranceage.co.uk https://ift.tt/61JOH2i

Amanda Blanc to co-chair Treasury’s climate transition plan taskforce

Aviva boss Amanda Blanc has been named as the co-chair of the government’s UK Transition Plan Taskforce along with John Glen, economic secretary to the Treasury. from Insurer - insuranceage.co.uk https://ift.tt/zLU4lx9

Car insurance prices up 4% in Q1

A 4% rise in average comprehensive car insurance premiums in the first quarter of the year has pushed the annual rate to a 2% increase, according to research by Confused and WTW. from Insurer - insuranceage.co.uk https://ift.tt/u1ifFvH

Financial & Legal expands product range

Managing director, Karen Beales, was brought into the insurer two years ago to develop the products it offers. from Insurer - insuranceage.co.uk https://ift.tt/T0KSvY6

FSCS pays out £7m in East West claims

Since East West Insurance Company went into administration the Financial Services Compensation Scheme has so far paid approaching £7m in valid claims costs. from Insurer - insuranceage.co.uk https://ift.tt/SvOQtLc

Motor insurance premiums levelled off in February

The cost of car insurance has risen by 4.3% since the start of the year, Consumer Intelligence has calculated. from Insurer - insuranceage.co.uk https://ift.tt/j4RuzJ0

Zurich opens regional office for East Anglia in Chelmsford

Zurich UK has moved to strengthen its relationships with brokers by opening a regional office in Chelmsford to service the East Anglia area. from Insurer - insuranceage.co.uk https://ift.tt/xDcXiB7

People Moves: 11 - 22 April 2022

Keep up-to-date with the top personnel stories on Insurance Age. from Insurer - insuranceage.co.uk https://ift.tt/juLm4As

Flood Re launches resilience initiative

The government-backed Flood Re schemes has developed the Build Back Better scheme to help make homes more resilient against flooding. from Insurer - insuranceage.co.uk https://ift.tt/sPtQ0Wn

Broker revenue falls at the AA

Revenue from broking activities fell to £100m for the year to 31 January 2022, the AA has revealed. from Insurer - insuranceage.co.uk https://ift.tt/cQ1oart

Extinction Rebellion blockades Lloyd’s

Climate protestors have used superglue, chains and bike locks to block 25 entrances into the iconic Lloyd’s building on Lime Street in London. from Insurer - insuranceage.co.uk https://ift.tt/wO09Frv

Iprism posts increased profit in run-up year to MBO

Iprism Underwriting Agency has reported a 9.7% increase in profit for the year ended 30 June 2021. from Insurer - insuranceage.co.uk https://ift.tt/e70XMbU

Lords Committee calls for “a broader reassessment of regulatory culture”

The Industry and Regulators Committee has outlined concerns about proportionate regulation in the London Market in a letter written to the Economic Secretary to the Treasury, John Glen MP. from Insurer - insuranceage.co.uk https://ift.tt/G2aIrJe

Taking the temperature of the electric vehicle market

With the Financial Conduct Authority’s price walking ban coming into force and customers transitioning from internal combustion engines to electric and hybrid vehicles, the motor insurance industry is currently in a state of flux. Eleanore Robinson reports. from Insurer - insuranceage.co.uk https://ift.tt/vmwud90

Financials Acquisition Corp to float on Stock Exchange

The special acquisitions company is looking to raise £150m to drive MGA and tech deals. from Insurer - insuranceage.co.uk https://ift.tt/4EIq7hz

People Moves: 4 - 8 April 2022

Keep up-to-date with the latest industry moves. from Insurer - insuranceage.co.uk https://ift.tt/JsMSUn1

Aviva and Allianz surveys flag inflation and climate impact issues for SMEs

Inflation has toppled business interruption as the number one concern for small businesses in a survey by Allianz Commercial while separate research by Aviva has found three-quarters of SMEs believe businesses should work on reducing their environmental impact but few have a plan in place to do so. from Insurer - insuranceage.co.uk https://ift.tt/x6c1DJn

AM Best rates MGA Castel

The organisation said it is the first UK MGA to receive a performance assessment from the rating agency. from Insurer - insuranceage.co.uk https://ift.tt/VtI1cGi

Blog: Managing theatre risk post-Covid

Ross Howard, assistant underwriter for entertainment at Markel International, and amateur thespian, explains how performers and theatre companies have overcome the obstacles of Covid-19, and discusses their plans to safeguard theatre productions in a post-pandemic world. from Insurer - insuranceage.co.uk https://ift.tt/FUWwlVM

Analysis: The inflation challenge

The ever-increasing rate of inflation in the UK and certainty of more to come has led to warnings of challenges for brokers and insurers alike with issues ranging from difficult conversations on premium rises to underinsurance and the prospect of turning to unrated providers. Emmanuel Kenning reports. from Insurer - insuranceage.co.uk https://ift.tt/7c6obmH

New RSA CEO Ken Norgrove promises to fix current “average” broker service

The insurer is keen to grow in SME in partnership with brokers but will not be targeting micro business. from Insurer - insuranceage.co.uk https://ift.tt/yB0YOLl

R&Q agrees £482m sale to Brickell

The deal would give shareholders a premium of around 20% on yesterday’s closing price. from Insurer - insuranceage.co.uk https://ift.tt/BuIm6Pw