Financial / Results – Page 62
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NewsPerception that extortion cover fuels cyber crime is ‘misguided’ – CFC Underwriting
The firm’s cyber development leader believes ‘the last option we want is to remove extortion coverage’, but that applying sub-limits could be a viable route forward
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NewsCovid-hit cash strapped SMEs borrow more to fund business insurance – Premium Credit
The premium finance provider is urging all SMEs to consider finance options as they plan for the future post-pandemic
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FeaturesBriefing: Brokers’ purse strings threatened by PI cover costs
The FCA’s test case has contributed to broker PI being ‘in a very, very difficult position’ says network MD, as Covid exclusions also cause costs to escalate
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News AnalysisSoaring professional indemnity insurance pricing and low trust creates ‘perfect storm’
An expert panel at Biba’s conference last month discusses the current state of the professional indemnity insurance market
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NewsBought by Many becomes a unicorn following latest funding round
The business has also doubled its team over the past year entirely remotely - it now employs more than 265 people, which it hopes to double again in the next 12 months
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FeaturesBriefing: This is the biggest problem with MGAs…
The market is changing and MGAs have a big issue
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FeaturesPrice walking proposals ‘eclipsed’ fair value impact on SME insurance
Brokers still have a lot to discuss ahead of implementing the FCA’s proposals on fair value this year, including considerations around commissions
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NewsDrone broker gears up for international growth after securing £1m funding
The company will continue to develop its products for new drone applications
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NewsNovidea secures $30m Series B financing to accelerate growth
The funding will help grow the insurtech’s product road map and global expansion
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FeaturesThe Big Question June 2021: What steps are insurance firms taking to combat climate change?
ShareAction’s latest data revealed that insurance companies are failing to use their influence to fight climate change. In response to this and in recognition of World Environment Day this June, Insurance Times asks insurance businesses what action they are taking to reduce damage to the planet
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NewsIntact and Tryg complete cash acquisition of RSA
The transaction ‘has delivered attractive, certain value for our shareholders’ says RSA chairman, as Intact promises to ‘build on the well-recognised RSA brands and scale in home and commercial lines’
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NewsThe FCA’s pricing policy changes could be ‘profound’
Abolishing ‘unethical price walking’ could encourage insurers to find ‘more innovative ways’ to ‘rip off’ customers
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NewsCNA Hardy allegedly paid $40m to ransomware attackers
The firm said in a statement that the investigation is ongoing, but it has shared some information regarding the ransomware attack in March
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FeaturesTop five insurers ranked on underwriting performance – which is the most profitable?
The latest analysis of insurers’ SFCRs for 2020 has revealed that being the biggest business is not always best. Insurance Times and Insurance DataLab take a closer look at the financial results from the five biggest underwriters…
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NewsTemporary trade credit reinsurance scheme to close
Outgoing ABI director general says the scheme is an ‘excellent example’ of how the government and the insurance industry can work together
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NewsAviva’s Q1 COR in GI improves to 90.8% for 2021
Alongside GI GWP improvements, selling eight non-core businesses outside of the UK, Ireland and Canada will generate cash proceeds of £7.5bn for Aviva, says Blanc
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NewsBroker Insights eyes North American expansion as revenue doubles
Broker Insights’s chief executive and co-founder says the insurance sector has seen the benefits of engaging digitally during the pandemic
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NewsFOS annual data reveals spike in insurance complaints
The FOS believes that rather than relying on systems and processes, more personalised communications is the best way to tackle customer issues
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NewsInsurers are failing to use their influence to fight climate change - ShareAction
Some commentators believe ’the insurance industry is the single most annoying part of this whole climate puzzle’
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FeaturesCovid uncertainty connected to premium finance uptick
Following a collaborative research project between Close Brothers Premium Finance and Insurance Times, two experts discuss how finance options could be vital post-pandemic as businesses consider their cash flow
