Latest News – Page 342
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IT InterviewQ&A: NIG offers broker support amid pandemic pressures
Sonya Bryson, NIG’s managing director, talks to Insurance Times about the insurer’s response to the Covid-19 pandemic and highlights how the business has grown over the last year
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News2021 set to be ‘less profitable’ year for insurers – Fitch Ratings
Credit ratings agency identifies the key factors that are contributing to market outlooks in the UK
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NewsIrish regulator fines commercial retail broker €41,385 for overcharging customers
The broker’s fine also covers the fact that it issued unclear communications regarding fees
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IT InterviewCovea continues ‘to put the customer at the heart of everything we do’ – Sue Coffey
Plus, the insurer is working to create virtual touch points with intermediaries as it looks to expand its distribution channels
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NewsGovernment launches consultation to amend Flood Re scheme
Under the proposals, claims payouts will include additional funds to help policyholders ‘build back better’ following flood damage
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NewsQ&A: Pearson Ham on the FCA’s pricing reforms - how will insurers claw back lost renewal revenue?
Pearson Ham’s director of insurance pricing Stephen Kennedy talks to Insurance Times about pricing reforms and how insurers might attempt to claw back lost revenue following the FCA’s price walking remedies and the coronavirus lockdowns
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FeaturesLondon Market is ‘less competitive than it should be’ – Founder Shield
New York-based broker says the London Market ‘is showing a lack of agility’ and that ‘fewer opportunities will come’ to the capital unless it starts ‘taking more bets with slightly longer odds’
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NewsFCA fair pricing report will ‘reduce profitability’ for insurers – Fitch Ratings
Furthermore, the home insurance market will be more affected than motor insurance as around ‘80% of premiums comes from renewal business’
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NewsAon and Willis Towers Watson confirm leadership team for combined business
Aon’s Greg Case will remain as chief executive officer following the acquisition, spearheading the company’s new ‘one firm’ ethos
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NewsAllianz Partners teams up with Irish insurtech for post-pandemic travel insurance platform roll out
The platform aims to settle travel insurance claims faster
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NewsTrõv partners with NIG underwritten electric car rental service for London fleet proposition
The partnership will see the two firms manage risk more effectively for electric cars
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NewsQ Underwriting secures capacity to launch new property and package division
A new property owners product will be available for broker partners from February
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NewsSoaring professional indemnity insurance premiums ‘unsustainable’ for surveyors
There is also a lack of PII insurers in the market which is an additional strain on premiums and makes it more difficult for surveyors to get the cover they need
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NewsInsurers inadvertently fueling ransomware rise, warns former national cyber security chief
Insurers are covering ransom payments, which in turn helps the proliferation of cyber crime, says former NCSC chief
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NewsArch inks deal with insurtech Concirrus
Arch will be using the insurtech’s intelligence platform which can provide advanced premium forecasting
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IT InterviewIn Focus: Commercial brokers have ‘felt the pain’ for Covid-affected clients – McCarron Coates
Insurance Times sits down with commercial wheels broker McCarron Coates to explore how the Covid-19 pandemic has impacted its clients and what the sector can expect moving forward
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NewsHowden Group records 6% organic growth in year to September 2020
Chief executive believes ‘the opportunities that lie ahead for Howden Group are extraordinary’
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NewsEnterprise Act risks BI payout ‘ticking time bomb’ for insurers, warns law firm
Devonshires’ Stephen Netherway tells Insurance Times how the Enterprise Act could affect business interruption pay-outs following the Supreme Court appeal ruling earlier this month
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NewsMarkerstudy Group reveals £200m investment
Markerstudy Group will use this investment to deliver a sustainable growth programme through a combination of organic and acquisition-led expansion
