Latest News – Page 243
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NewsCrawford and Company allows UK employees to adjust bank holiday time off
The loss adjuster’s UK and Ireland president says staff can now swap time off for bank holidays based on what suits them best - be it Eid al-Fitr or Easter
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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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NewsCurrent level of industry regulation is ‘suffocating small brokers’ – Stanhope Cooper
Broker boss believes regulation for brokers has ‘gone too far’ and is ‘anti-entrepreneurialism’
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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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NewsInsurtech investments fall in 2022 amid Covid and cost-of-living crisis – GlobalData
The data and analytics said insurtechs will need to refocus as a result of tough economic times
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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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NewsE-scooter and e-bike lithium-ion battery fire claims spark losses of over half a million pounds – Axa UK
The insurer is warning commercial businesses and consumers of the risks associated with fires resulting from the electrically powered micro-mobility vehicles
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NewsInsurance becoming ‘ripe target’ for UK fraudsters as attempts up by 257% – TransUnion
Phishing was deemed the most common fraud scam
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NewsThe Ardonagh Group posts 170% increase in pro forma losses for H1 2022
The group also recorded a 21% increase in its adjusted ebitda for the reporting period, reaching a figure of £186m
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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
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NewsCNA Hardy bags ex-Axa XL chief as new director of risks
He has also worked for the likes of EY, Accenture and Deloitte in senior roles
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NewsRcapital Partners targets ‘significant’ scale-up with dual business buy
Montague Investment Group has taken a minority stake in the partnership as part of the deal
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NewsThunderstorms on the horizon heighten risk of flash flooding – Ecclesiastical
Insureds need to prepare for flash flooding as it can be quick and ‘hard to predict’, says risk management director
