Insight
Union calls for urgent action amid FCA staff morale “collapse”
The Financial Conduct Authority needs urgent staff reform amid a collapse in morale that means it cannot regulate effectively, union Unite has claimed.
News analysis: What next for brokers amid FCA premium finance crackdown?
The Financial Conduct Authority’s premium finance crackdown threatens a significant revenue earner for brokers. Big players with strong balance sheets are making moves
ICO fines five firms £435,000 for unlawful “white goods insurance” marketing calls
The Information Commissioner’s Office has fined five firms a total of £435,000 for making nearly half a million nuisance calls trying to sell white goods insurance.
Biba and CFC publish new cyber risk guide
The British Insurance Brokers’ Association has worked with CFC to publish a new guide to help brokers and small businesses understand the prevailing cyber risks.
Markel first to partner with Zywave on broker briefcase expansion
Zywave has revealed an extension to its broker briefcase allowing insurers, MGAs and third parties to insert their broker-focused content directly into the workflow of a broker.
Stubben Edge buys Insurercore
Stubben Edge Group has bought tech enabled distribution platform Insurercore.
Zurich names David Nichols UK head of retail after David Martin exit
Zurich has appointed David Nichols as UK head of retail moving across from being chief claims officer.
Chaucer launches new ESG ‘scorecard’
Chaucer has rolled out an initiative to measure the environmental, social and governance performance of clients and business partners.
FCA outlines rogue financial promotions clamp down
The Financial Conduct Authority has proposed new measures to stamp out illegal, unfair or misleading financial marketing.
Aston Lark expands Early Careers Programme in national push
Aston Lark has launched the second wave of its Early Careers Programme and committed to expanding the number of recruits to up to 80 in 2023.
Biba’s website down ahead of scheduled Tuesday relaunch
The British Insurance Brokers’ Association website is down, as the association states a new and updated website to be launched Tuesday.
RSA set to launch low-carbon underwriting policy
RSA has revealed a new low-carbon underwriting policy and has committed to achieving an underwriting portfolio production that is over 75% low carbon by 2030.
Xenia buys trade credit specialist Linda Scott Associates
Xenia Broking Group has signed up to buy the trade credit insurance business of Glasgow-based Linda Scott Associates in a deal expected to complete on 22 December.
Under 20% of firms meet FCA expectations on attestation records
Only 11 out of 66 firms in the Financial Conduct Authority’s general insurance pricing review provided attestation records that met the regulator’s expectations.
Gallagher calculates 40% of commercial properties underinsured
Gallagher has assessed that two in five commercial properties in the UK are currently underinsured with the problem hitting a record high.
Increase in scamming methods as ransomware frequency decreases- CFC’s Lindsay Nelson
Cyber development leader at CFC Underwriting, Lindsey Nelson, has warned the insurance industry not to ignore other ways of scamming as ransomware decreases in frequency yet still dominates the headlines.
Turnover tops £20m at Alan Boswell after reshuffle
Alan Boswell Insurance Brokers has posted a 50% leap in turnover to £20.75m in the year to 31 March 2022 after a re-organisation brought two sister-companies into the firm.
Ardonagh buys £20m GWP PI specialist broker
Ardonagh Advisory has added to its professional indemnity portfolio buying The Professional Broking Group which trades as The Professional Indemnity Company.
People Moves: 28 November - 2 December 2022
Stay updated with the latest personnel moves in insurance.
Residential property specialist Deacon rebranded to Gallagher
Specialist residential property broking business, Deacon, will be rebranded as Gallagher on 5 December, the consolidator has confirmed.
A system to categorise cyber incidents in the pipeline - CFC head Burns
At the CFC Cyber Forum yesterday, James Burns, head of cyber at CFC, revealed plans to categorise cyber incidents, just like weather events, to determine the impact of each incident and to help insurers and brokers regulate the severity of subsequent…
Zurich UK names new head of UK commercial insurance
Zurich has announced Frank Streidl as the new UK head of commercial insurance, starting his position from 1 January 2023.
One Broker buys Uttings Insurance Brokers
East Anglia’s One Broker Group has bought Uttings Insurance Brokers in Norfolk for an undisclosed sum.
CII gender pay gap spikes to 21.19%
The Chartered Insurance Institute Group has reported a mean average gender pay gap of 21.19%, up from 14.81% in 2021, alongside an improved ethnicity pay gap of 13.1%.