Latest News – Page 316
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NewsUK heatwave will cause increase in glass claims – Auto Windscreens
’Tracking weather and forecasting peaks and troughs is vital’ for insurers, says commercial and sales director
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NewsTwo-day FCA staff strike postponed as further talks get under way
The regulator says it is looking ’forward to an open conversation’ with employees about union representation
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NewsMP and economic secretary to the Treasury John Glen resigns
Financial services sector representative says he has a ’complete lack of confidence’ in the prime minister
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NewsLloyd’s of London’s blueprints risk failure as tangible output is lacking – Altus
Lloyd’s is ’at risk of becoming far less relevant in five years’ and losing its competitive edge unless it takes practical steps now, advises consultancy firm
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NewsFraudulent car insurance fronting grows by 170% between March and May 2022 - LV= GI
To avoid any legal trouble, brokers should help parents understand how to reduce their children’s motor premiums
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NewsPWC names high expense ratios as the biggest driver for technology transformation in London market
Only 19% of respondents said that aligning their technology strategies with Lloyd’s Blueprint Two was ‘very important’
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NewsLaw firm merger completes and creates ’biggest casualty practice in the UK’
The deal is important because ’size matters’ for end-to-end client support, says law firm partner
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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’
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News‘Evolving black swan events’ are making ‘the industry incredibly nervous’ – Accenture
Despite five possible black swan events on the horizon, past industry action has demonstrated that insurance companies take these risks ‘very much in their stride’, according to professional services firm
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NewsAxa Partners reveals multimillion-pound partnership extension with underwriting agency
The underwriting agency’s managing director says that Axa Partners shares its ’key value of putting customers at the heart of everything’
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NewsBrokers call for mandatory qualification requirements – CII
The CII’s president backs brokers’ call to action because it would ‘improve the image and professionalism of the sector hugely’
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NewsJensten Group combines businesses to reveal new London market operation
The broker’s wholesale managing director believes its new division is an example of how it provides ’our people and partners with greater opportunities than the status quo’
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NewsMotor insurance premiums set to rise 2% this year ahead of 18% uptick in 2023 – EY
Professional services firm predicts that the UK motor sector’s net combined ratio will be loss-making in 2022 and 2023 and that the ‘environment will be tough’
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News‘There will always be a need for insurance’ – Lloyd’s boss John Neal
The insurance industry provides ’a framework for bouncing back’, as risk can never completely be eliminated and ’we cannot just look to politicians for answers’
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NewsBrokers want more support from insurers when handling complex claims – Allianz
When brokers and insurers work together to handle claims, communication via email is one broker bugbear that insurers should be aware of
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NewsMGA Coalition strikes long-term capacity deal with Allianz
Too many organisations ’simply aren’t prepared’ for cyber risks, says Coalition’s head of insurance
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NewsAxa UK’s chairman steps down
The insurer will be left in ‘good hands’ when the newly selected appointee takes over, however
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NewsIndustry opportunities arise from growing state sponsored cyber attacks – Lloyd’s of London
The insurance industry has an opportunity to develop ’affirmative physical damage offerings’
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