Latest News – Page 677
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NewsFCA: EU-derived rules still apply despite Brexit vote
The FCA has reminded companies that they must continue to abide by their obligations under UK law, including any derived by the EU, following the vote to leave the European Union. The regulator said the rules would apply until the government changes legislation to reflect the ...
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NewsWhat next for insurance after Brexit? Read the SR guide
How does the insurance industry cope with Brexit? Our sister publication Strategic Risk has published a guide to the key risks of Brexit, with contributions from academics, legal experts and QBE chief executive Richard Pryce. Click here to view the guide: Assessing the Key Risks of ...
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NewsCustomers should avoid hasty decisions after Brexit vote - ABI
Customers of UK insurance companies should avoid making hasty decisions about their financial matters in the wake of the UK Brexit vote, according to the ABI. “Customers should remember we remain part of the EU until the process of leaving is complete and they should therefore ...
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NewsBrexit could force insurers restructure as passporting rights go - PwC
The loss of passporting rights following the UK’s Brexit vote could force general insurers and the London market into a major restructuring, according to corporate services firm PwC. “The Lloyd’s & London Market and general insurance Market make extensive use of passporting. The loss of these ...
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NewsPound, share prices slump on Brexit vote, Cameron resignation
Britain’s vote to leave the EU and Prime Minister David Cameron’s resignation have sent the pound plunging and wiped billions of share prices as markets opened this morning. The pound suffered its biggest one day fall in history, plunging more than 11% from its highs late ...
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NewsChannel Syndicate appoints new head of technology and cyber insurance
Tom Allen has joined Lloyd’s managing agency Channel Syndicate’s new innovation division as head of technology and cyber insurance. Channel, a subsidiary of Lloyd’s reinsurer SCOR, said the innovation division will look at new technologies and emerging risks, including cyber. Allen worked as a lawyer before ...
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NewsUK firms to face increased cyber regulations even with Brexit
UK companies will still have to comply with new EU regulations regarding data breaches irrespective of the outcome of the referendum vote today, leading cyber risk experts at Beazley’s Hacked! Conference said earlier this week. Interest in cyber protection among UK businesses has risen sharply with ...
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NewsSouth East and London hit by flash floods
The South East and London have been hit by flash floods after a month’s rain fell in a few hours this morning. Red immediate action warnings are in place for areas of Essex and the capital. Flooded streets were reported across the capital, with Bexley getting ...
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NewsMarsh and Gallagher plot UK acquisitions
Much of the recent talk about UK SME broker mergers and acquisitions has been dominated by the new consolidators such as GRP and PIB. But it should not be forgotten that there are much bigger beasts in the market that also have a strong appetite for ...
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NewsChubb's European high net worth head to depart
Chubb Europe’s head of personal lines Simon Mobey is leaving the company. He will be replaced by UK and Ireland distribution head Jeremy Miles who has been promoted to the role of senior vice president, personal risk services, Europe. In his new role Miles will be ...
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NewsHDI plots Scottish expansion with Glasgow branch
HDI Global is planning to open an office in Glasgow. The insurer said it wanted to strengthen its regional footprint by establishing a presence in Scotland. It already has offices in London, Birmingham and Manchester. As a result of the move HDI has hired Paul McGhee ...
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NewsLiberty Insurance to cut 70 jobs
Liberty Insurance, the Irish subsidiary of Liberty Mutual Insurance Group, will cut 70 jobs following market instability, claims increase and excess capacity for commercial liability insurance. Most of the job cuts will come from the commercial insurance and bank office functions in the Cavan and Dublin ...
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NewsAon UK appoints long-serving Marsh exec to board
Aon UK Ltd has appointed former Marsh executive John Nicholson as a non-executive director. Aon UK Ltd is Aon’s main regulated entity in the UK, and includes the global broking group’s UK risk management, insurance and reinsurance businesses. Nicholson worked at Marsh for 18 years between ...
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NewsAllianz to start warning brokers about client underinsurance
Allianz UK is planning to start warning brokers when it thinks small business clients are potentially underinsured from next month, SME and corporate partnerships director David Martin. The move comes amid growing concerns about underinsurance at small to medium-sized enterprises (SMEs). Speaking at the inaugural Insurance ...
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NewsSwinton closes Leek branch
Broking group Swinton closed its branch in Leek, Staffordshire on 18 June. The Leek Post & Times reported that the broker’s Leek branch clients will now be served by its Hanley branch. The paper quoted a letter to customers from Swinton distribution director Richard Beaven, which ...
