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Showing posts from September, 2022

Aviva to open up HNW distribution to regional brokers in 2023

Aviva will be targeting additional high net worth underwriting capacity next year at regional independent brokers who “tend to have a handful of cases”, Gareth Hemming, managing director of UKGI distribution & SME has told Insurance Age. from Insurer - insuranceage.co.uk https://ift.tt/xHPNRDG

NBS Underwriting targets the third sector with combined package product launch

NBS Underwriting has rolled out its combined package product, Community Enterprise, and revealed a capacity deal with Axa on non-standard household policies. from Insurer - insuranceage.co.uk https://ift.tt/o1Ityqd

People Moves: 26-30 September 2022

Keep up to date on the latest personnel changes in insurance. from Insurer - insuranceage.co.uk https://ift.tt/AWGUaKm

James Dalton leaves the ABI to join the MIB

The Motor Insurers' Bureau has made a series of new senior leadership hires including the director of general insurance policy at Association of British Insurers, James Dalton. from Insurer - insuranceage.co.uk https://ift.tt/ctuaOJn

Stark shortfall in fair value assessment requests from insurers

In a compliance webinar hosted by Kenneth Underhill, director of Implement Compliance Solutions and Resources, 76% of approximately 120 participating co-manufacturers and distributors said they had not received a fair value assessment from their manufacturer ahead of the FCA’s deadline of 30 September. from Insurer - insuranceage.co.uk https://ift.tt/tLBV3oI

Mark Coffey named personal lines and e-trade director at Premium Credit

Former RSA leader and director at Ardonagh-owned Atlanta, Mark Coffey, has joined Premium Credit as personal lines and e-trade director. from Insurer - insuranceage.co.uk https://ift.tt/vMtm7Ll

Zego doubling down on growth with 40 brokers

Zego is pursuing a route of working with brokers who “see how the future is evolving” rather than a working “with any broker” approach, CEO Sten Saar told Insurance Age. from Insurer - insuranceage.co.uk https://ift.tt/p8V6qYO

RSA sets out strategic roadmap for 2025 with new "broker promise" vow

RSA has revealed its strategic roadmap for 2025 with a target of reaching a combined operating ratio in the low 90s and committed to unveiling a new broker "promise" in 2023. from Insurer - insuranceage.co.uk https://ift.tt/Laf6xK8

People Moves: 19-23 September 2022

Keep up to date with the latest personnel changes in the insurance industry. from Insurer - insuranceage.co.uk https://ift.tt/LM1gXHj

Government writes to Biba slamming “amoral” flats insurance commission and demanding change

Government minister Simon Clarke has written to Steve White, CEO of the British Insurance Brokers’ Association, demanding immediate changes to unfair commissions and a plan to reform market culture and practice after the regulator’s report into multi-occupancy buildings insurance. from Insurer - insuranceage.co.uk https://ift.tt/JZR0yst

Biba welcomes FCA tower blocks insurance report and flags commission rate fall

The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s report on insurance for multi occupancy buildings and broadly supported the key recommendations but warned of "unintended consequences". from Insurer - insuranceage.co.uk https://ift.tt/jpU5wAB

ABI commits to working “at pace” on pool sharing risk solution after FCA flats insurance report

The Association of British Insurers has responded to the Financial Conduct Authority’s report on insurance for multi-occupancy buildings in which the regulator called for a cross industry pool. from Insurer - insuranceage.co.uk https://ift.tt/iztWJ5Z

Brokers hailed as a “critical” distribution channel for trade credit insurance by Allianz Trade CEO

CEO at Allianz Trade UK & Ireland, Sarah Murrow, has described brokers as a "critical" distributer when promoting trade credit insurance to clients. from Insurer - insuranceage.co.uk https://ift.tt/OKN8iB1

FCA recommends Biba works on risk pool “to limit commission costs” in flats insurance report

The Financial Conduct Authority has warned of “significant concern” over some broker commissions in the multi-occupancy buildings insurance market and taken aim at a lack of transparency by the insurance sector in its dealings with leaseholders as well as “material issues and shortcomings” in data. from Insurer - insuranceage.co.uk https://ift.tt/VAqUu7F

FCA recommends pooling and lower commission in flats insurance review

The Financial Conduct Authority has set out its recommendations and potential remedies to reform the multi-occupancy buildings insurance market including a cross industry pool and lowering commissions. from Insurer - insuranceage.co.uk https://ift.tt/VnRwOW0

UK Broker Awards 2022: Meet the winners

Clegg Gifford & Co was named Broker of the Year and David Howden was awarded the Achievement Award as brokers came together for the first time since before Covid-19 to celebrate the UK Broker Awards. from Insurer - insuranceage.co.uk https://ift.tt/uEyFDnH

People Moves: 12-16 September 2022

The latest personnel changes within the insurance industry. from Insurer - insuranceage.co.uk https://ift.tt/V6KF8bX

Covéa personal lines MD James Gearey departs

Covéa Insurance has confirmed that James Gearey, managing director of personal lines and protection, has left the business. from Insurer - insuranceage.co.uk https://ift.tt/97nt0AI

In Depth: Underinsurance - data, analytics and trading

Sam Barrett explores how new technology is helping to prevent underinsurance and boost trading from Insurer - insuranceage.co.uk https://ift.tt/bA4sxcI

Biba and FCA call off events in light of Queen Elizabeth's death

The British Insurance Brokers’ Association and the Financial Conduct Authority have decided to postpone events that were scheduled before the funeral of Queen Elizabeth II. from Insurer - insuranceage.co.uk https://ift.tt/3MZs19o

People Moves: 5-9 September 2022

Keeping you up to date with the latest insurance moves. from Insurer - insuranceage.co.uk https://ift.tt/Bw8KZkC

In Depth: Underinsurance and the value of risk management

Sam Barrett explores the threat of increasing underinsurance amid a cost of living crisis and asks how brokers can help their clients and ensure they are covered to the right level from Insurer - insuranceage.co.uk https://ift.tt/zudnytf

Former RSA chief Scott Egan appointed CEO at SiriusPoint

Speciality insurer and reinsurer, SiriusPoint, has named ex-RSA boss Scott Egan as CEO, effective 21 September. from Insurer - insuranceage.co.uk https://ift.tt/USE3se5

The FCA argues back at financial inclusion being included in mandate

The Financial Conduct Authority has responded to a Treasury Select Committee report on the Future of Financial Services Regulation disagreeing with the recommendation that it should ‘have regard’ to financial inclusion. from Insurer - insuranceage.co.uk https://ift.tt/Mk0KCaA

Drop in complaints to FOS but buildings and motor insurance feature in top five

Buildings insurance and car/motorcycle insurance have featured in the Financial Ombudsman’s top five most complained about products for the first quarter of the financial year. from Insurer - insuranceage.co.uk https://ift.tt/DNHOV3p

News analysis: HNW - will Aviva’s play for market dominance pay off?

Rachel Gordon explores how the insurer’s move to buy Azur, and its acquisition of the Axa XL team, has shifted the prestige insurance market from Insurer - insuranceage.co.uk https://ift.tt/D02E5NV

Markel launches media and entertainment product

Markel International has unveiled a new media and entertainment policy designed as a cross-class liability product. from Insurer - insuranceage.co.uk https://ift.tt/p0SdI3l

Markel launches media and entertainment product

Markel International has unveiled a new media and entertainment policy designed as a cross-class liability product. from Insurer - insuranceage.co.uk https://ift.tt/p0SdI3l

Coalition’s broker-only cyber offering goes live

San Francisco-headquartered cyber insurance provider Coalition has begun trading in the UK. from Insurer - insuranceage.co.uk https://ift.tt/EJmZiYB

People Moves: 30 August - 2 September 2022

Keeping you up-to-date with the latest insurance moves. from Insurer - insuranceage.co.uk https://ift.tt/gpTuRZC