Insight
FCA data shows 19% of BI insurance claimants still waiting for full payment
Figures from the Financial Conduct Authority have confirmed that 34,506 business interruption insurance claimants have received their full payment out of 42,586 accepted by insurers.
Former vice presidents vow to monitor CII after motion not debated at AGM
A move to bring an independent probe into ongoings at the Chartered Insurance Institute has fallen short at the first hurdle.
Stubben Edge buys finance platform Finpoint
UK-based insurtech Stubben Edge has acquired credit broker Finpoint for an undisclosed sum.
Aviva strikes £100m-per-year capacity deal with Pen Underwriting
Pen Underwriting has announced a new multi-year strategic partnership with Aviva in support of its personal lines and property owners’ business, which will see Aviva providing capacity for over £100m in premium per annum.
CII elects Swiss Re’s Russell Higginbotham as president
Russell Higginbotham, CEO of Swiss Re Solutions, has been elected president of the Chartered Insurance Institute for 2023 moving up from deputy president and succeeding Peter Blanc.
Verlingue achieves ESG bronze accreditation
Verlingue has gained bronze accreditation for its ESG approach from independent assessor EcoVadis.
FOI reveals FCA insurance investigations running into thousands of days for firms and individuals
The Financial Conduct Authority closed five investigations into firms and individuals in its insurance portfolio in 2021 with each lasting over 1000 days, a Freedom of Information request by Insurance Age has revealed.
FCA mixes praise for insurers on BI claims handling with concerns and lessons to be learned
The Financial Conduct Authority has welcomed insurers quickly making interim payments, reallocating resources swiftly and proactively communicating with policyholders in its review of business interruption claims handling.
Insurance veteran teams up with iRevolution bosses for M&A vehicle
The sales and marketing director at Tradewise Insurance Services, Wayne Bradshaw, has launched a self-named company Wayne Bradshaw Acquisitions.
SJL Insurance Services launches new academy
SJL Insurance Services has ambitions to widen its talent pool with the launch of SJL Academy and has given jobs to 10 people living in or near Worcester.
Commercial Express rolls out PL excess of loss cover
Commercial Express has launched public and product liability excess of loss cover aimed at SMEs with turnover of less than £15m, and separately revealed a new partnership with Brit.
Aviva still has fizz in broker personal lines friendships after Lemonade deal, says Hemming
Aviva is “absolutely open for personal lines business”, according to Gareth Hemming, managing director of UKGI distribution & SME.
Ex First Central UK CEO Andy James launches motor provider Zixty
Andy James, previously UK CEO at First Central, has launched app-based motor insurance provider Zixty.
Ex-broker wins age discrimination case after boss told him he’d been around ‘as long as Pontius Pilate’
A 66-year-old former employee of broker Clegg Gifford & Co has won an age discrimination case after being told he had been around “as long as Pontius Pilate”.
Aviva backs Lemonade in UK launch
US insurtech Lemonade has launched in the UK with a contents insurance offering in partnership with Aviva.
Aviva to open up HNW distribution to regional brokers in 2023
Aviva will be targeting additional high net worth underwriting capacity next year at regional independent brokers who “tend to have a handful of cases”, Gareth Hemming, managing director of UKGI distribution & SME has told Insurance Age.
FCA warns insurers to support customers’ wellbeing during cost of living crisis
The Financial Conduct Authority has expressed concerns, in a new 'Dear CEO' letter, that customers may cut-back on the insurance they need as pressure mounts on household budgets.
NBS Underwriting targets the third sector with combined package product launch
NBS Underwriting has rolled out its combined package product, Community Enterprise, and revealed a capacity deal with Axa on non-standard household policies.
AUB completes Tysers buy
AUB Group has completed the £500m purchase of Lloyd’s wholesale broker Tysers from private equity house Odyssey Investment Partners.
People Moves: 26-30 September 2022
Keep up to date on the latest personnel changes in insurance.
James Dalton leaves the ABI to join the MIB
The Motor Insurers' Bureau has made a series of new senior leadership hires including the director of general insurance policy at Association of British Insurers, James Dalton.
BGL Insurance prioritises talent and digital following Markerstudy deal
Managing director of distribution at BGL Insurance, Laura Mullaney highlights the brokers’ main focuses after its takeover by Markerstudy.
Andy Fairchild signs up at CGI
Ex-Broker Network boss Andy Fairchild has teamed up with global IT services and business consulting firm CGI as a brand ambassador, Insurance Age can reveal.
Mulsanne and Complete Cover parent slips to 2021 loss
Gibraltar-based motor insurer Mulsanne Insurance more than doubled its gross written premium to £119m in 2021 from £54.8m in 2020.