Insurer News – Page 116
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NewsSompo International agrees sale of EAL to ‘withdraw’ from Lloyd’s
The move marks the culmination of the firm’s strategy to divest itself from Lloyd’s and focus on the London market
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NewsAxa completes sale of Malaysian insurance operations
Generali has bought Axa’s shares in this territory for total cash proceeds of €140m
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NewsIndustry fraud crackdown sees dishonest claims fall in number and cost – ABI
With the cost of living crisis potentially triggering a fraud epidemic, one industry leader is calling for the Insurance Fraud Taskforce (IFT) to reconvene
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NewsJunior underwriter at reinsurer wins sexual discrimination case
A derogatory comment was made about the underwriter’s breasts
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NewsEcclesiastical enhances art and private client policy to cover cyber risks as standard
Art and private client business director reveals that policy changes are the result of broker feedback
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NewsAllianz Holdings names Aviva director in newly created compliance role
The hire continues Allianz’s investment in ‘second line defence’, says chief executive
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NewsTaxi driver pays £12,500 in damages after staged three vehicle crash
The savings associated with preventing the fraudulent claim, including legal costs, amount to £175,000, according to law firm
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NewsMan jailed after using different identities to submit fake travel insurance claims
Aviva was one of six insurance companies impacted by the 27-year-old’s fraudulent activity
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NewsEx-Lloyd’s Lab head Ed Gaze scoops new role at alumnus insurtech
The insurtech was part of Lloyd’s Lab’s cohort four, during Gaze’s tenure at the accelerator programme
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NewsAviva’s Nick Major and Simon Mobey step down
The staff changes have triggered a c-suite reshuffle
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NewsTesco Bank appoints new chief customer officer
The new hire will oversee the firm’s proposition for customers across its insurance, banking and money service divisions
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NewsCyclists could be required to purchase mandatory insurance following Transport Bill review
UK’s transport secretary implied that he is not a fan of unnecessary ‘bureaucracy’, however
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NewsLloyd’s of London sets cyber policy exclusions for state-backed attacks
Managing agents must show that exclusion clauses have been legally reviewed
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NewsEuropean windstorms caused £3,142m in insurance industry losses – Perils
The firm’s latest estimate would make the February storms the largest European windstorm loss since January 2007
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NewsThree ‘I’s that lead to underinsurance pose ‘real reputational risk’ for insurance industry
But brokers have a ‘real opportunity’ to showcase their value in the face of cost and supply chain pressures, says commercial lines boss
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NewsPool Re launches members consultation on suggested transition to treaty model
The reinsurer’s consultation will run until the end of October 2022
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NewsFraudster jailed following exposure of bogus car insurance claims for collisions and theft
Discovering one instance of fraud triggered Aviva to submit another referral to the IFED, highlighting a false claim which was previously missed by the insurer
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NewsBeazley receives ‘in principle’ approval to establish Lloyd’s Syndicate 5623
The insurer’s Smart Tracker will transition into a ‘full market-facing syndicate’ at the beginning of next year
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NewsStubben Edge Group snaps up Lloyd’s broker as it targets 1m live policies in 2022
The firm has also incorporated Guernsey-based 1Edge Insurance, with the aim of expanding the group’s capabilities for IFAs and brokers
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NewsProbitas’ Syndicate 1492 achieves COR of 78.5% in H1 2022
The Lloyds syndicate also grew its underwriting profit by 86% from the equivalent period last year
