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Showing posts from September, 2024

NBS seals SME capacity deal with Hadron UK

NBS Underwriting has added Hadron UK Insurance to its insurer panel effective 1 October. from Insurer - insuranceage.co.uk https://ift.tt/qn2YDyM

Peach rebrand to come into effect at Broker Expo

Peach PI will rebrand as Peach at the UK Broker Expo, Insurance Age can reveal, with new messaging and a company logo to reflect its modern appetite. from Insurer - insuranceage.co.uk https://ift.tt/pDwmtfx

PwC tips Northern Irish motor premium to drop 15% after Government review

Motor insurance premiums for Scottish and Northern Irish drivers have been tipped to decrease by an average of £60 (10%) in Scotland and £90 (15%) in Northern Ireland following a Government review. from Insurer - insuranceage.co.uk https://ift.tt/gDEcdJA

Storah promises ‘more to come’ from Aviva on office openings and expansions for brokers

Aviva believes there is “more to go at” with brokers and is weighing up options having opened in Chelmsford and Southampton along with expanding in Glasgow this year, UK and Ireland general insurance CEO Jason Storah told Insurance Age. from Insurer - insuranceage.co.uk https://ift.tt/Faeyzkc

Aviva signs capacity deal for Howden scheme

Aviva has agreed to a deal with Howden to provide capacity for the broker’s Bespoke Farm and Estate Scheme, Insurance Age can reveal. from Insurer - insuranceage.co.uk https://ift.tt/ZE32ROe

Motor leads the way as insurers detected 14% more fraudulent claims in 2023

Insurers detected £1.1bn worth of fraudulent claims last year, up 4% on 2022, according to the latest cross-industry figures. from Insurer - insuranceage.co.uk https://ift.tt/GsCQFN6

Ecclesiastical grows 11% in half year as UK and Ireland COR tumbles to 84.2%

Ecclesiastical Insurance achieved £18m of underwriting profit on UK and Ireland business in the first half of 2024 as its combined operating ratio improved substantially to 84.2% from 106.6% in the same period of 2023. from Insurer - insuranceage.co.uk https://ift.tt/kfeR6Vl

High Net Worth – is it really high noon for MGAs in upmarket personal property?

With Munich Re (GrovesJohnWestrup) and Allianz (Home & Legacy) putting mid- and high-net-worth MGAs into run-off in the last 18 months, is this distribution model failing to connect with these customers? Ed Murray explores these developments and others in the upmarket personal property sector. from Insurer - insuranceage.co.uk https://ift.tt/R10dtyW

Kayzen Specialty rolls out D&O wrap offering

London and regional markets focused managing general agent Kayzen Specialty has launched an add-on for directors’ and officers’ insurance claiming it will provide broader cover protecting individual executives from gaps. from Insurer - insuranceage.co.uk https://ift.tt/epTRYmA

Das grew 8% with stable COR in 2023 en route Arag deal

Das has posted growing written premium to £139.3m in the run-up to being bought by Arag. from Insurer - insuranceage.co.uk https://ift.tt/1XeTaux

Beat launches proRISE targeting SMEs via wholesale brokers

Beat Capital Partners is launching proRISE Insurance Services targeting management and professional liability insurance for SMEs with its products distributed through wholesale brokers. from Insurer - insuranceage.co.uk https://ift.tt/6aASbN3

People Moves: 16 – 20 September 2024

Stay in the loop with the latest insurance personnel moves. from Insurer - insuranceage.co.uk https://ift.tt/vIe1rjs

Blog: Are insurance add-ons still relevant in 2024?

Julian Tomlinson, chairman of Alps, argues some insurance add-ons are more vital for policyholders today than they’ve ever been. from Insurer - insuranceage.co.uk https://ift.tt/4QHIzs8

Lloyd’s appoints ex-McKinsey leader Sir Charles Roxburgh as chair

Lloyd’s has named Sir Charles Roxburgh as its next chair to take up the role on 1 May 2025, succeeding Bruce Carnegie-Brown. from Insurer - insuranceage.co.uk https://ift.tt/X0QKAy3

QBE opens “benchmark” Leeds office with more broker contact promise

QBE has opened a new office in Leeds making a £3.6m investment in the city for its second largest European site. from Insurer - insuranceage.co.uk https://ift.tt/gXGB3J5

Claims – are brokers confident in insurers, MGAs and TPAs to deliver at the moment of truth?

Both the Financial Conduct Authority and Financial Ombudsman Service have recently highlighted issues around insurers and managing general agents outsourcing claims to third party administrators. Siân Barton examines whether brokers hold similar concerns – and what trends they are seeing in terms of level of service in the current market. from Insurer - insuranceage.co.uk https://ift.tt/91sjKaH

Ex-Esure, L&G and Direct Line boss Peter Graham joins Markerstudy

Former CEO of Esure Peter Graham has been appointed as non-executive chairman (designate) of Markerstudy Insurance Services. from Insurer - insuranceage.co.uk https://ift.tt/OWqvUsI

Ghost broker handed two-year suspended prison sentence

A man who sold invalid insurance policies and tried to take out car insurance for himself by covering up his driving offences and using a fake no-claims discount certificate has been sentenced to two years in prison, suspended for two years. from Insurer - insuranceage.co.uk https://ift.tt/QUhLlHp

Broker Insights hones in on £6bn

Broker Insights has confirmed that brokers have uploaded £5.5bn of gross written premium to its Vision platform as it tracks towards hitting £6bn by the end of the year. from Insurer - insuranceage.co.uk https://ift.tt/OqvAQPJ

Spring Insure gets Bridgehaven capacity

Managing general agent Spring Insure has secured A-rated capacity from Bridgehaven Specialty UK to sit alongside its existing backers as it targets expansion. from Insurer - insuranceage.co.uk https://ift.tt/kyJNU0M

Taylor’s broker remit expanded at Aviva as Birbeck shifts to claims

Aviva’s strategic accounts director Michelle Taylor has been handed a wider broker-facing remit within the insurer, Insurance Age can reveal. from Insurer - insuranceage.co.uk https://ift.tt/RpAmgu2

IS2 promises supercharged commercial schemes distribution

IS2 has launched an API enabled hosted pricing solution, staking a claim for a commercial lines schemes first. from Insurer - insuranceage.co.uk https://ift.tt/F60w8Uc

Esure owner Bain eyeing up sale – report

Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters. from Insurer - insuranceage.co.uk https://ift.tt/efCnxlK

Moody’s improves outlook for UK property and casualty insurers to stable

Moody’s has changed its outlook for UK property and casualty insurers to stable from negative noting prices for personal lines cover, such as motor insurance, have risen sufficiently to absorb claims inflation. from Insurer - insuranceage.co.uk https://ift.tt/YMInfOc

Lloyd’s looks to better protect whistleblowers as it consults on misconduct framework

Lloyd’s has begun a consultation as it looks to modernise and streamline its approach to dealing with poor conduct and behaviours in the market including both financial and non-financial misconduct.  from Insurer - insuranceage.co.uk https://ift.tt/UvSre9A

Which? sounds the alarm again on “eye-watering” motor and home insurance interest rates

Research by Which? has revealed the average annual percentage rate for motor insurance on monthly premium finance at 22% and 20% for home policies. from Insurer - insuranceage.co.uk https://ift.tt/IiNKhAE

People Moves: 9 - 13 September 2024

Keep up to date with the latest insurance industry personnel moves. from Insurer - insuranceage.co.uk https://ift.tt/NzE8MDr

Peach Pi partners with Starpeak on micro/SME insurance

Starpeak, the specialist digital distributor of insurance to niche online markets, has partnered with commercial insurer Peach Pi to co-create products designed specifically for the micro and SME market. from Insurer - insuranceage.co.uk https://ift.tt/lRG9LhQ

Markel raids Axa again as it builds out its senior regional UK broker team

Markel has appointed Charlotte Harrison to the role of head of UK regional broker development. from Insurer - insuranceage.co.uk https://ift.tt/PKtDvXV

Broker Expo 2024 Countdown: Neil Peters of Arch Insurance

As we count down to Insurance Age’s Broker Week, we asked our Broker Expo speakers to share some insights into the event, market issues and who are the most heavy metal people in insurance. Today, we focus on Neil Peters, VP, national director, branch network at Arch Insurance. from Insurer - insuranceage.co.uk https://ift.tt/Rj6eXCs

Video Q&A: RSA distribution development manager Laura Fox

A year on from the NIG acquisition being announced, Laura Fox, distribution development manager at RSA spoke to Insurance Age content director Jonathan Swift about the integration process. from Insurer - insuranceage.co.uk https://ift.tt/USs8GkF

Cyber stalking, abduction and bribery among risks covered by new Hiscox product

Hiscox has launched Personnel Security Plus from Insurer - insuranceage.co.uk https://ift.tt/mLrzp9K

Addept and All Broker Services partner on ancillary insurance distribution

Specialist ancillary insurance providers Addept Insurance Services and All Broker Services have teamed up in a product distribution partnership. from Insurer - insuranceage.co.uk https://ift.tt/MXl6mFx

Markel adds legal expenses to PI combined

Markel has added legal expenses cover as standard to its professional indemnity combined product in a move it stated was in response to broker feedback. from Insurer - insuranceage.co.uk https://ift.tt/wfOT3Vy

Stand-alone specialist energy MGA Navata launched

Thomas Miller has announced the launch of its standalone MGA business, Navata. from Insurer - insuranceage.co.uk https://ift.tt/M5iUEnC

Meet the MGA: Criterion

Looking to challenge the status quo when it comes to insuring waste and recycling businesses, underwriting director Stuart Kinsella explains why having no referral parameters and deep expertise in the sector means Criterion is well positioned to make its mark - and expand into other markets. from Insurer - insuranceage.co.uk https://ift.tt/tdaQurx

Axa UK & Ireland looks to Aviva for new CRO

Axa UK & Ireland has appointed Rahul Gumber as chief risk officer, subject to regulatory approval. from Insurer - insuranceage.co.uk https://ift.tt/H5vqsCi

People Moves: 2 – 6 September 2024

Follow the latest insurance personnel moves. from Insurer - insuranceage.co.uk https://ift.tt/kKYqZvp

Allianz reveals rise in cloned businesses motor fleet fraud attempts

Allianz UK has reported a “marked increase” in fake or cloned businesses claims coming through in the first half of the year as it also highlighted strong collaboration with brokers has further heightened fraud awareness and detection. from Insurer - insuranceage.co.uk https://ift.tt/Z5SyTo0

Commercial Express launches tattoo and body piercing product

Commercial Express has launched a tattoo and body piercing product, giving brokers access to a customisable package product. from Insurer - insuranceage.co.uk https://ift.tt/goELeUT

Blog: The integration of NIG into RSA – moving towards a unified market presence

A year ago, RSA reached an agreement with Direct Line Group to acquire its brokered commercial lines operations, including NIG and FarmWeb. David Enoch, distribution and proposition director at the insurer, gives an update on the progress since then. from Insurer - insuranceage.co.uk https://ift.tt/h8LxRUf

TMHCC combines event cancellation and cyber cover

Tokio Marine HCC has launched a malicious cyber event extension to its cancellation product available through its Lloyd’s syndicate and HCC International Insurance. from Insurer - insuranceage.co.uk https://ift.tt/BFOKGTm

Clear buys Accelerate Underwriting

The Clear Group has made its fourth managing general agent acquisition, snapping up Accelerate Underwriting. from Insurer - insuranceage.co.uk https://ift.tt/AprSBI7

Sign up for the latest Aviva Broker Community Fund Awards

Aviva has put brokers on alert to get involved in The Aviva Broker Community Fund Awards when applications open next week. from Insurer - insuranceage.co.uk https://ift.tt/BsWab9l

The stats: Q2 2024 – Commercial combined and combined liability premiums fall for first time in three years

The smallest index movement since Q2 2021 suggests the commercial lines market is starting to become more competitive again, as Ida Axling reports. from Insurer - insuranceage.co.uk https://ift.tt/CrwiZsW

Alps teams up with Fortega on GAP sales

Fortegra Europe Insurance has partnered with Alps for the distribution of Guaranteed Asset Protection insurance. from Insurer - insuranceage.co.uk https://ift.tt/E2LNJtl

MGA Arkel secures £25m of new Lloyd’s capacity

Arkel has secured an additional £25m delegated authority binder with Axis for landlords’ let property. from Insurer - insuranceage.co.uk https://ift.tt/2LCFVhf

MGA expands into transactional liability following first acquisition

Rising Edge has signed an agreement to acquire AMANIKI GmbH enabling the MGA to launch a suite of transactional liability insurance products. from Insurer - insuranceage.co.uk https://ift.tt/Za48HMA