Broker News – Page 78
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NewsMajority of brokers interested in ‘further digitalisation’ – Aviva
Digital processes could ’eliminate’ repetitive tasks and free up time for customer service
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NewsBiba welcomes consumer duty implementation extension
The trade body has also questioned a ‘lack of prescription’ within the new rules and invited firms to make use of its template fair value assessment solution
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NewsSchools an ‘attractive target’ for criminals over summer months – Ecclesiastical Insurance
‘Brokers have an important role to play’ in helping education clients manage their risks over the summer holidays
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NewsProposed Leasehold Reform bill a ‘red flag’ for industry over property insurance commission disclosures
‘Millions of people’ could be insured ‘for a lot less’, says financial compliance firm principal
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NewsJM Glendinning Professional Risks promotes internally for new managing director
The candidate came up trumps after a ‘rigorous recruitment process’
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NewsThe Clear Group grows ebitda by 76% in 2021
Group chief executive says latest financial results provide ‘an excellent base from which we can continue to deliver on our growth strategy’
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NewsRate rises of 300% have ‘not been uncommon’ in London’s cyber market
Despite ‘no material change in exposure’, insurers in the London market are wary of cyber risks and are upping premiums by 100% on average, as well as reducing capacity, says broker’s head of cyber
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NewsRates for builders’ risk construction cover increased by 5% year-on-year in London market
Higher sub-limits and extension limits for these policies in London give the market ‘a competitive differentiation’, says broker’s head of international construction
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NewsFCA publishes final rules for Consumer Duty regulation
The regulator has extended its implementation timeline for its ‘step change’ Consumer Duty principle by three months, but company boards must agree their implementation strategies by October 2022
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NewsGRP marks 100th acquisition with purchase of Ipswich-based firm’s GI book
Intermediary firm celebrates its ‘empowered consolidation model’ with its latest broker buy
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NewsUK government publishes Financial Services and Markets Bill
The tabled bill represents ‘the beginning of the development of a new UK regulatory regime’, paves the way for Solvency II reform and furnishes the FCA with new regulatory powers
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NewsIndustry on alert as two new Covid strains spread
The pandemic is the third largest catastrophe after Hurricane Katrina and the 9/11 attacks, says AGCS
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NewsMarkerstudy’s BGL Insurance creates 100 ‘hybrid’ contact centre jobs
The new hires form part of a planned growth trajectory following its acquisition by Markerstudy
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NewsInflation rate for motor claims settled in 2021 reached 6.2% – WTW
Average claims settlement times in Q1 2021 were two months longer compared to the same period in 2019, says the broker
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NewsPIB Group buys Spanish commercial lines broker
The deal marks the broker’s fourth purchase in Spain, reflecting its ‘ultimate goal of becoming one of the most important insurance brokers in the market’
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NewsMarkerstudy Group inks deal with Future First to promote insurance careers
The broker has a wider group commitment to support young talent
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NewsLycetts’ pre-tax profits jump up by 154% in 2021
Investing in people, operations and infrastructure has supported this growth trajectory, says chief executive
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NewsBroker consolidation indicates ‘rosy future for the broking market’ – Accenture
Brokers must also move from ‘traditional risk indemnity into risk management mitigation’ to obtain ‘frequent customer engagement’, says senior managing director
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NewsArdonagh’s Geo Underwriting buys loss recovery MGA
Broker-backed MGA is ’excited to support’ the growth of its newly purchased firm amid plans to extend ’product distribution even more widely’
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NewsKonsileo secures £4.7m series A funding ‘to shake up the world of commercial broking’
Chief executive plans to use new funding to recruit more UK insurance brokers ’and continue to shake up the world of commercial broking’
