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News AnalysisFCA’s pricing review – will it ‘level the playing field’ for insurance sector?
Firms’ differing interpretations and pace of change ahead of the FCA’s pricing reform deadlines could pose problems as the industry seeks to eliminate price walking
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News Analysis
Travel insurance sector faces capacity concerns post-pandemic
As the travel industry gears up to reopen post-lockdown, a spike in claims could impact insurance capacity
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News Analysis
Government must take ‘leap of faith’ to mend ‘gaping hole’ in cover for live events
Industry figures beg the government to seriously consider state-backed insurance scheme as the commercial insurance market for events cancellation is ‘unlikely’ to mobilise until 2022
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News Analysis
Industry must take ownership of SMCR rules to embed successful culture change
Now that the March deadline for insurance intermediaries to implement SMCR has passed, senior leaders must set the ‘tone from the top’ and look to employee behaviour
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News Analysis
Suez Canal blockage leaves ‘(re)insurers significantly exposed to business interruption risks’
As the Suez Canal reopens, the insurance industry is bracing itself for huge losses ‘made up of compensation for delays’ and covering ‘potential damage to cargo’
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News Analysis
D&O demand set to soar as UK audit regime puts directors in the spotlight
Sweeping new reforms for Britain’s biggest businesses are set to place greater responsibility on directors and officers to ensure the accuracy of their firms’ financial reporting – or face harsh penalties
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News Analysis
Industry reacts to ‘far-reaching’ implications of FCA’s price walking remedies
Although the industry supports the aims of the FCA’s pricing review, there are unintended consequences that must be considered by the regulator and insurers alike
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News Analysis
Covid-19 pandemic exacerbates fine art insurance’s hard market conditions
The art sector is heavily reliant on social contact, so the uncertainty of the coronavirus lockdowns have created added risks and challenges from pushing sales online
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News Analysis
The Big Question April 2021: How can the insurance industry apply the key learnings from Lloyd’s most recent culture survey?
In March, Lloyd’s of London published its 2020 culture survey. While it revealed some progress on gender – race and ethnicity still needs to be addressed. Insurance Times asks the industry how they could apply the survey’s key learnings within their own organisations
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News Analysis
Top women in insurtech weigh in on diversity and inclusion debate
Insurance Times speaks to some of the top women in insurtech in honour of International Women’s Day this month, spotlighting individual contributions to the sector as well as unpicking the value of having a diverse workforce
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News Analysis
No code technology – an untapped opportunity for the insurance sector?
No code technology could be an untapped opportunity for the insurance industry and the London market at a time when digitalisation is vital due to homeworking.
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News Analysis
Industry network urges insurance sector to enhance equality
African-Caribbean Insurance Network co-founder emphasised that ‘diversity without inclusion is just box-ticking, but companies that are both diverse and inclusive achieve appreciably better bottom line results’
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News Analysis
Flood deal spotlights the need for a proactive approach
Swiss Re’s latest flood partnership gives visibility to the fact that data is becoming increasingly vital in the proactive management of flood risks
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News Analysis
‘Broken’ insurance industry must find fire insurance solution following Grenfell
Brokers attempt to pick up the pieces as insurers shun high-rise block exposures, however broker trade body believes it would be ‘disappointing’ if the industry failed to find a workable solution for a risk the sector has been insuring for centuries
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News Analysis
Admiral Group expects to be ‘less impacted’ by FCA’s fair pricing reform
The company’s chief financial officer further identified price comparison websites (PCWs) as an ‘important distribution channel for us’, while new group chief executive Milena Mondini de Focatiis celebrated the insurer’s premium refund initiative, describing it as ‘a bit unique in the market’
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News Analysis
BI test case was ‘a difficult moment during the year for RSA’ says UK boss
The insurer’s chief executive for UK and international business admitted that ‘there’s work to be done in 2021’ around business interruption coverage and reputational repair
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News Analysis
Reform ban on pre-medical offers could lead to arrangements that aren’t ‘in the spirit of the rules’
As the government confirms that pre-medical offers will not be allowed for whiplash injuries after 31 May, Insurance Times explores how insurers may seek to circumvent this
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News Analysis
RSA’s UK&I business ‘is absolutely on track’ despite being ‘heavily impacted by Covid’
Chief executive Scott Egan says he is ‘really excited’ by RSA’s acquisition and that broker partnerships are ‘key to our success’
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News Analysis
BI claims set to place ‘huge burden’ on loss adjusters following Supreme Court ruling
As well as new business interruption claims, many loss adjusters and assessors are also seeing an influx in ‘resurrected’ claims that have been awaiting the appeals judgment before being progressed
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News Analysis
Allianz Holdings describes communication with brokers as ‘great success over 2020’
Chief executive says virtual methods have allowed the insurer to stay in touch with brokers ‘to a greater extent’
