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Insurer - en-gb RSA sets out strategic roadmap for 2025 with new "broker promise" vow RSA has revealed its strategic roadmap for 2025 with a target of reaching a combined operating ratio in the low 90s and committed to unveiling a new broker "promise" in 2023. Fri, 23 Sep 2022 12:43:35 +0100 People Moves: 19-23 September 2022 Keep up to date with the latest personnel changes in the insurance industry. Fri, 23 Sep 2022 09:54:12 +0100 Aviva “disappointed” at other insurers for not offering fairly priced multi-occupancy building insurance Aviva’s UK & Ireland general insurance CEO, Adam Winslow, has responded to the FCA’s report on insurance for multi-occupancy buildings expressing disappointment in other insurers for not offering fairly priced insurance. Thu, 22 Sep 2022 15:55:10 +0100 Government summons ABI to meeting on FCA tower block insurance report The Secretary of State for Levelling up, Housing & Communities has written to Hannah Gurga, director general of the Association of British Insurers, telling the industry to accelerate its work on multiple occupancy buildings insurance and solve the problems urgently. Thu, 22 Sep 2022 15:27:57 +0100 Government writes to Biba slamming “amoral” flats insurance commission and demanding change Government minister Simon Clarke has written to Steve White, CEO of the British Insurance Brokers’ Association, demanding immediate changes to unfair commissions and a plan to reform market culture and practice after the regulator’s report into multi-occupancy buildings insurance. Thu, 22 Sep 2022 12:05:24 +0100 Biba welcomes FCA tower blocks insurance report and flags commission rate fall The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s report on insurance for multi-occupancy buildings and broadly supported the key recommendations but warned of "unintended consequences". Thu, 22 Sep 2022 11:21:03 +0100 Aviva launches standalone cover for electric vehicle charging points Aviva has launched standalone insurance products covering electric vehicle charging points aimed at installers and operators. Thu, 22 Sep 2022 10:17:58 +0100 ABI commits to working “at pace” on pool sharing risk solution after FCA flats insurance report The Association of British Insurers has responded to the Financial Conduct Authority’s report on insurance for multi-occupancy buildings in which the regulator called for a cross industry pool. Thu, 22 Sep 2022 10:10:06 +0100 Brokers hailed as a “critical” distribution channel for trade credit insurance by Allianz Trade CEO CEO at Allianz Trade UK & Ireland, Sarah Murrow, has described brokers as a "critical" distributer when promoting trade credit insurance to clients. Wed, 21 Sep 2022 14:27:27 +0100 FCA recommends Biba works on risk pool “to limit commission costs” in flats insurance report The Financial Conduct Authority has warned of “significant concern” over some broker commissions in the multi-occupancy buildings insurance market and taken aim at a lack of transparency by the insurance sector in its dealings with leaseholders as well as “material issues and shortcomings” in data. Wed, 21 Sep 2022 12:39:06 +0100 FCA sets out pooling and lower commission in flats insurance review The Financial Conduct Authority has delivered its recommendations and potential remedies to reform the multi-occupancy buildings insurance market including a cross industry pool and lowering commissions. Wed, 21 Sep 2022 11:11:52 +0100 UK Broker Awards 2022: Meet the winners Clegg Gifford & Co was named Broker of the Year and David Howden was awarded the Achievement Award as brokers came together for the first time at its traditional venue - The Brewery - since before Covid-19 to celebrate the UK Broker Awards. Tue, 20 Sep 2022 11:43:55 +0100 People Moves: 12-16 September 2022 The latest personnel changes within the insurance industry. Fri, 16 Sep 2022 09:31:42 +0100 Car damage inflation cooling off - Jefferies Jefferies’ UK motor insurance tracker has revealed that car damage inflation has dropped and is now at 7% year-on-year as the group maintained its forecast of a combined operating ratio of 116% for the market in 2022. Thu, 15 Sep 2022 15:45:16 +0100 Covéa personal lines MD James Gearey departs Covéa Insurance has confirmed that James Gearey, managing director of personal lines and protection, has left the business. Thu, 15 Sep 2022 15:39:57 +0100 Broking Success: From football to insurance Managing director of Mason Owen Financial Services, Andrew Gibbons tells Insurance Age how he went from being a semi-professional footballer to entering the world of insurance Tue, 13 Sep 2022 15:19:44 +0100 Zurich UK overhauls graduate hiring process Zurich UK is changing its graduate hiring process to cater for “generation covid” after lockdowns affected young peoples’ chances to gain work experience. Tue, 13 Sep 2022 12:24:35 +0100 In Depth: Underinsurance - data, analytics and trading Sam Barrett explores how new technology is helping to prevent underinsurance and boost trading Mon, 12 Sep 2022 16:19:15 +0100 Biba and FCA call off events in light of Queen Elizabeth's death The British Insurance Brokers’ Association and the Financial Conduct Authority have decided to postpone events that were scheduled before the funeral of Queen Elizabeth II. Mon, 12 Sep 2022 11:33:36 +0100 Blog: The rising threat of underinsurance Chris Andrews of Aviva discusses how today’s challenges could be creating an increased risk of underinsurance Fri, 09 Sep 2022 09:50:47 +0100 People Moves: 5-9 September 2022 Keeping you up to date with the latest insurance moves. Fri, 09 Sep 2022 09:49:39 +0100 In Depth: Underinsurance and the value of risk management Sam Barrett explores the threat of increasing underinsurance amid a cost of living crisis and asks how brokers can help their clients and ensure they are covered to the right level Thu, 08 Sep 2022 16:21:07 +0100 Lloyd’s posts £1.8bn half-year loss Lloyd's has posted a loss of £1.8bn for the first half of 2022 compared to a profit of £1.4bn in the same period last year. Thu, 08 Sep 2022 11:45:56 +0100 Opinion: Welcoming greater broker involvement with loss adjusters Recently appointed Cila leader David Ross on the drive to have the majority of members achieve chartered status. Thu, 08 Sep 2022 10:35:02 +0100 Analysis: Insurance dives deeper into returners talent pool With an increasing number of insurance companies offering returners programmes, Emmanuel Kenning looks into the benefits for all concerned as experts encourage even more firms to access this relatively untapped source of talent Thu, 08 Sep 2022 10:30:11 +0100 Former RSA chief Scott Egan appointed CEO at SiriusPoint Speciality insurer and reinsurer, SiriusPoint, has named ex-RSA boss Scott Egan as CEO, effective 21 September. Wed, 07 Sep 2022 16:42:42 +0100 The FCA argues back at financial inclusion being included in mandate The Financial Conduct Authority has responded to a Treasury Select Committee report on the Future of Financial Services Regulation disagreeing with the recommendation that it should ‘have regard’ to financial inclusion. Wed, 07 Sep 2022 16:19:16 +0100 Drop in complaints to FOS but buildings and motor insurance feature in top five Buildings insurance and car/motorcycle insurance have featured in the Financial Ombudsman Service’s top five most complained about products for the first quarter of the financial year. Wed, 07 Sep 2022 15:27:11 +0100 News analysis: HNW - will Aviva’s play for market dominance pay off? Rachel Gordon explores how the insurer’s move to buy Azur, and its acquisition of the Axa XL team, has shifted the prestige insurance market Tue, 06 Sep 2022 16:26:09 +0100 The Insurance Museum opens with fire insurance exhibition The Insurance Museum has unveiled its first online exhibition which is titled Fire! Risk and Revelations and will go live on 7 September. Tue, 06 Sep 2022 12:21:14 +0100 Markel launches media and entertainment product Markel International has unveiled a new media and entertainment policy designed as a cross-class liability product. Mon, 05 Sep 2022 14:43:01 +0100 Coalition’s broker-only cyber offering goes live San Francisco-headquartered cyber insurance provider Coalition has begun trading in the UK. Mon, 05 Sep 2022 10:57:45 +0100 FOI reveals increase in cyber breach incidents reported to FCA by brokers A Freedom of Information request by Insurance Age has revealed that the number of cyber breach incidents reported to the Financial Conduct Authority has increased for insurance intermediaries but dropped for regulated firms altogether. Fri, 02 Sep 2022 12:32:08 +0100 IUA develops wording to support removal of unsafe cladding The International Underwriting Association has developed a clause to help support the removal of unsafe cladding on high-rise buildings. Fri, 02 Sep 2022 10:44:16 +0100 PFS figures reinforce scale of financial challenge at CII The financial performance of the Chartered Insurance Institute has again come under scrutiny as the Personal Finance Society posted its figures for 2021. Fri, 02 Sep 2022 10:40:12 +0100 People Moves: 30 August - 2 September 2022 Keeping you up-to-date with the latest insurance moves. Fri, 02 Sep 2022 10:03:40 +0100 Biba encourages brokers to use its flood directory The British Insurance Brokers’ Association has encouraged brokers to use its flood directory to ensure eligible households that are denied cover can still be offered it. Thu, 01 Sep 2022 12:33:12 +0100 Iprism integrates with Acturis Managing general agent Iprism has added its tradesman, contractors and professionals product to the Acturis trading platform. Wed, 31 Aug 2022 15:30:43 +0100 FCA warns of HDI Global clone firm The Financial Conduct Authority has alerted the market and consumers to a clone of authorised insurer HDI Global SE. Wed, 31 Aug 2022 12:34:58 +0100 Zego partners with QBE Zego has partnered with QBE to expand its fleet insurance offerings. Tue, 30 Aug 2022 15:32:00 +0100 Ecclesiastical adds to HNW offering Specialist insurer Ecclesiastical has launched a new enhanced Art and Private Client policy to the market. Tue, 30 Aug 2022 12:29:01 +0100 Worries remain on subsidence but claims volume still uncertain Earlier this month LV released figures showing that subsidence cases were up by 205% between June and July, and warned that they were likely to increase even more. Tue, 30 Aug 2022 12:27:12 +0100 Romero on track to double its business Managing director, Simon Mabb has revealed that Romero is on track to achieve its five year plan of doubling its business by 2025. Fri, 26 Aug 2022 11:44:32 +0100 Aston Lark buys AJ Insurance Service Aston Lark, a Howden company, has acquired Essex-based AJ Insurance Services for an undisclosed sum. Thu, 25 Aug 2022 10:33:15 +0100 Insurers hit back at Covid-hit football clubs over “mistaken approach” Insurers have argued that BI claims from Premier League clubs should be capped at £2.5m per policy amid a court battle. Wed, 24 Aug 2022 10:25:34 +0100 People Moves: 22-26 August 2022 Keeping you up-to-date with the latest insurance moves. Tue, 23 Aug 2022 10:07:22 +0100 Blog: Why recruitment is the major challenge for the incoming CII head Crescens George, of Wiser Academy , explains why recruitment must be the top priority for the new Chartered Insurance Institute boss as he calls for training to be more accessible. Tue, 23 Aug 2022 09:34:20 +0100 Nick Major to exit Aviva amid commercial lines shake-up Aviva UK has spilt is commercial lines business into two divisions, SME and global corporate & specialty and, in personal lines, HNW boss, Simon Mobey is set to step down. Mon, 22 Aug 2022 13:56:26 +0100 Two-fifths of London businesses at risk of flash flooding Research by Zurich has revealed that two-fifths of London businesses are at risk of being hit by flash floods as heavy rainfall is predicted to hit the capital. Thu, 18 Aug 2022 11:51:21 +0100 People Moves: 15-19 August 2022 Keeping you up to date with the top personnel changes in insurance. Wed, 17 Aug 2022 10:20:54 +0100