Latest News – Page 408
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NewsWhiplash reform regulation to come into force from 31 May
However, some industry commentators believe ‘we’re still only half-way there on whiplash’ and that ‘none of this actually helps anyone to work out how to set up and process a whiplash claim’
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NewsInsurers told they ‘play a crucial role in society’ regarding diversity
Expert June Sarpong says ‘the benefits are clear’ for insurance firms that seek to improve diversity
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NewsThe future of MGAs will be defined by data – Willis Re
Overseas capacity providers are attracted to the UK market, but especially to businesses that have generous data capabilities
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NewsRSA reports £166m hit from Covid-19 for 2020
The insurer paid out £259m in group-wide claims costs pertaining to the coronavirus pandemic
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NewsFormer Aviva chief exec to launch insurtech
The business plans to target the non-prime and standard segments of the UK motor insurance market
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NewsJensten Group buys Wiltshire-based broker
The deal forms part of the company’s buy and build growth strategy
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NewsAXA reports 3% drop in gross revenue for UK and Ireland in 2020
The insurer has also sought to minimise future exposure to Covid-19 claims by using exclusions within its business interruption and event cancellation policies
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IT InterviewHiscox attributes five-star personal lines rating to ‘strong and very competitive’ products
The insurer’s distribution director adds that the firm ‘won’t rest on our laurels’ and that customer service will continue to be a focal point
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NewsFour-month implementation period for FCA’s price walking remedies is a ‘joke’ – ABI
Despite potential implementation challenges, the trade association’s director general is ‘very hopeful’ that the proposed ‘road map’ with the FCA will solve the loyalty penalty ‘once and for all’
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NewsLloyd’s looks to research the history of its art collection to ascertain slavery links
The market believes it is ‘right and proper’ to re-evaluate the symbols and artefacts within its archives to see ‘whether or not what they stand for reflects where we are’ today
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NewsRun-off sector braced for growth as insurers tackle legacy challenges
Deals within the Lloyd’s market has been a key driver of escalated run-off transaction figures
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NewsInsurtech Trõv partners with electric vehicle sharing company
This partnership is part of the insurtech’s expansion plans
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NewsInsurance industry braces as Fire Safety Bill debated in parliament
The House of Commons today debates the Fire Safety Bill, identifying key amendments that could affect the insurance sector
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NewsGRP buys Ipswich-based broker
The broker will remain as a standalone business, but hopes to now target substantial growth as part of GRP
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NewsAviva to exit Turkey
The transaction is expected to complete this year, but is subject to closing conditions and regulatory approval
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NewsAgeas UK records 2% drop in gross income for 2020
Chief executive says the business has ‘a solid foundation on which to build’ for this year
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NewsCommercial insurance pricing up by 44% in UK – Marsh
Global commercial insurance pricing was also up by 22% in Q4 2020
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NewsControl systems are in cyber criminals’ crosshairs, warns report
The London market has been warned it needs to better understand the rising threat of cyber attacks to industrial and manufacturing facilities, as criminals switch their focus to find new ways to extort and disrupt businesses
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NewsAston Lark expands construction offering with new industry buys
Group chief executive says the firm’s latest purchases will help it continue to ‘grow in construction insurance’
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NewsFCA issues new guidance for the treatment of vulnerable customers
The regulator has put forward this guidance to generate consistency in the treatment of vulnerable customers
