Latest News – Page 738
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Online onlySelf-driving car claims first road death
The driver of an electric Tesla car has been killed while the vehicle was on autopilot. It is understood to be the first road death involving a self-driving car, with American news outlets naming the driver as Joshua Brown from Ohio. “What we know is ...
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Online onlyGable crisis deepens amid stock market suspension request
The crisis swirling around unrated insurer Gable deepened today as it requested suspension from the AIM stock market. The Liechtenstein-based insurer requested a suspension of its share trading on AIM until the publication of its audited annual report and accounts for the year ended 31 December ...
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NewsFive fraudsters brought low by stupidity or arrogance
Many fraudsters are caught out by their own arrogance, stupidity, a lack of attention to detail, or by pushing their frauds just one scam too far. With specialist police investigators working with the insurance industry, insurers are more alert for inconsistencies and anomalies in claims, and ...
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NewsMarkerstudy buys telematics broker Drivology
Insurance and broking group Markerstudy has bought app-based telematics broker Drivology. The acquisition will add over 6,000 policyholders to Markerstudy’s retail division. Drivology specialises in smartphone app-based car insurance. The company’s app monitors how safe a driver is to determine motor insurance premiums. The app determines ...
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NewsBrexit means bad news for innovation says Atidot
Start-up risk management company Atidot chief executive Dror Katzav has said that Brexit means bad news for innovation as start-ups are “businesses for immigrants”. Speaking at a London InsurTech event on June 29, six panellists shared their views on whether Brexit would impact the InsurTech wave ...
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NewsLloyd’s pushes for passporting as Brexit threatens £800m GWP
Lloyd’s estimates that £800m of its gross written premium (GWP) could be affected if access to the single market is lost because of Brexit. This accounts for 4% of its £26.6bn total GWP. The insurance market made the estimate in a document outlining its plans to deal with the UK’s ...
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NewsWillis’s Gaffney says risk is the future of insurance
Willis Towers Watson chief technology officer Simon Gaffney has said that there are huge opportunities in the risk market for new people entering the insurance industry. Speaking at the London InsurTech Conference on 29 June, Gaffney said that technology is transforming clients and creating new businesses ...
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NewsEsure says no takeover bids received, after share price spikes
Esure said it has received no approaches about a potential offer for the company. The company was responding to takeover speculation that boosted its share price in morning trading. Shares in the company rose 14% to 297 pence this morning after reports suggested an offer might ...
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NewsLV= promotes two managing directors to its executive team
LV= has promoted managing director of retirement solutions business John Perks and managing director of protection business Myles Rix to its executive team. Perks has had responsibility of LV=’s retirement business and has worked as customer solutions director for the insurer. He also has experience ...
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NewsElite looks to quit Gibraltar HQ to preserve EU passporting rights
Elite Insurance said it is looking for a new headquarters outside of Gibraltar. The insurer said it won’t wait for the outcome of Britain’s negotiations with the EU, and is taking action to safeguard its business in the EU. “Elite is already researching alternative domiciles for ...
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NewsCII seeks to recruit ex-military into insurance
The CII has launched a new microsite dedicated to helping ex-forces explore a career in risk and insurance. The microsite offers first hand experiences of ex-military personnel who have found second careers in insurance - this gives visitors their unique stories and helps others explore career ...
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NewsUnderwriters want speedy post Brexit settlement - with passporting rights
A new trading relationship between the UK and the EU must be set out as soon as possible, and it must include passporting rights, according to the International Underwriting Association (IUA). Companies in the London market don’t want a prolonged negotiation, and are developing contingency plans ...
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NewsUK insurers 'better off outside EU', says former Civil Service head
UK insurers will be better off outside the EU because they can escape the “absolutely dreadful” Solvency II rules, according to the former head of the Civil Service. EU capital rules have damaged competitiveness and hampered the insurance sector’s ability to expand, Lord Turnbull told the ...
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NewsAA sells Irish insurance-led business for €156.6m
The AA said it has agreed to sell its Irish business to the Carlyle private equity firm for €156.6m (£130m) in cash. AA Ireland provides personal and commercial insurance and motoring services. “As an insurance broker-led business, AA Ireland differs significantly from the AA’s UK business, ...
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NewsTech & Innovation Awards 2016 shortlist announced
An extensive array of technology firms, insurers and brokers have been shortlisted for the Insurance Times Tech & Innovation Awards 2016. These prestigious awards recognise the best applications of technology in UKGI. It is a celebration of how insurance firms and their technology partners are meeting ...
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NewsABI welcomes FOIL’s statement to tackle fraud
The ABI has welcomed the launch of the Forum of Insurance Lawyers (FOIL) Statement of Competence for Insurance Solicitors that will help insurance lawyers tackle fraud. The statement highlights that lawyers working for insurers must be alert to fraudulent activity, have knowledge of fraudulent activity relevant ...
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NewsEcclesiastical targets HNW growth with upgraded policy
Specialist churches and charities insurer Ecclesiastical has upgraded its Residential Insurance product to offer insurance to a growing high net worth (HNW) client base. The upgraded policy titled the Art & Private Client (A&PC) product will be available from 1 July 2016. It will include features ...
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NewsGRP agrees not to hire Bluefin staff until next year
Broking group Global Risk Partners (GRP) has agreed not to approach, recruit or hire any staff from rival broker Bluefin until next year following the pair’s recent court battle. Bluefin sued GRP, its broking chief executive Mike Bruce (pictured), Bluefin executives Mark Rogers and Suzanne Powell, ...
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NewsCooper Gay hires Willis’s Prinn as head of global placement
Jonathan Prinn will join Cooper Gay as head of global placement and leave his role as Willis GB head of broking. Prinn was previously chief operating officer at Willis global placement company before he was appointed Willis GB head of broking in January 2015. He has ...
