Insurer
Car premiums surge 19% in 2022
Comprehensive car insurance premiums increased sharply by 19% during the last 12 months, with UK motorists now paying £629 on average, according to the latest Car Insurance Price Index.
Biba flags concern on businesses cutting cyber cover
Some 40% of members involved in research by the British Insurance Brokers' Association told the trade body they had clients who were no longer insuring their cyber risks due to the cost of living crisis.
Aviva hit with extra claims costs from cold weather snap
Aviva has estimated that freezing weather in the UK during December will cost the insurer around £50m at a group level.
FCA's Consumer Duty update is a ‘warning against complacency’ as firms fall behind
The Financial Conduct Authority has warned firms risk falling behind as the deadline for Consumer Duty looms.
Allianz aims to boost broker interaction as it restructures renewable energy
Allianz Engineering, Construction & Power has brought its renewable energy experts into one team, with the ambition of growing its green power portfolio.
Zurich to expand claims concierge service to commercial and SME mid-market customers from Q1
Zurich UK has launched a bespoke concierge service for its personal lines customers in a move it claimed was an industry-first.
Society of Insurance Broking chair looks to Biba to improve engagement
The new chair of the Society of Insurance Broking, Laura Hancock, has told Insurance Age that this year’s focus will be on raising professional standards in broking and talent recruitment.
Ecclesiastical calls on brokers as heritage sector faces “unprecedented” challenge
Ecclesiastical has launched its latest Heritage Risk Barometer to help brokers talk to heritage clients about the biggest risks they face in the short, medium and long-term.
Saga confirms underwriting sale talks
Over 50s-group Saga has confirmed ongoing talks to sell its underwriting business Acromas Insurance.
Stella targeting £300m motor GWP within years, says Sam White
Managing general agent Stella Insurance launched in the UK with a motor offering in November 2022 and is targeting £10m of gross written premium this year, according to its founder and CEO Sam White.
Speculation links Ageas Group with a fresh takeover approach
Ageas Group is being eyed as a takeover target according to reports.
People Moves: 16 - 20 January 2023
Keep up to date with the latest personnel moves within the insurance market.
Only 14% of smaller SMEs have business continuity plans: Aviva
Aviva has urged brokers to keep having the conversations needed with clients on business continuity plans as the insurer revealed only 28% of firms have one in place.
Cost-of-living crisis to place additional regulatory focus on market
DAC Beachcroft has published its predictions for 2023, which touches on the impending implementation of the Consumer Duty and what the Financial Conduct Authority will expect of the insurance industry during the cost-of-living crisis.
RSA adds to CIO leadership team
RSA Insurance has appointed two new women to its CIO leadership team with Sally Ng as specialty and commercial delivery director, and Katie Hermans as head of technology risk management.
Dozens of law firms caught in ‘very difficult’ PI market have closed
Nearly 50 law firms have had to close in just over a year as soaring professional indemnity costs bite hard, according to a legal adviser.
Sompo International expands outside London with Birmingham office
Sompo International has flagged the importance of getting closer to brokers as it revealed the opening of an office in Birmingham, its first in the UK outside of London.
Ageas makes significant changes to its UK executive team
Ageas UK has made two executive team appointments, with Rashmi Rao as chief information officer, and Stephen Linklater as claims director.
Analysts warn of further hit to UK property insurance market in 2023
Increasing weather-related claims and soaring rebuild costs will damage the profitability of UK property insurers this year, according to analytics company Globaldata.
Allianz appoints Graham Stait as Midlands and South West regional manager
Allianz Commercial has appointed former head of claims operations, Graham Stait, as regional manager for the Midlands and South West commercial regions.
Aviva enters offshore wind insurance market
Aviva has extended its renewable energy insurance offering into the offshore wind market.
Insurance Cares: Broker helps launch home contents cover aimed at closing premium poverty gap
ECH Facilities has launched a home insurance policy in partnership with the Salvation Army to help people with lower incomes to protect their contents.
Zurich reports double digit boost in female senior hires
Some 45% more women were hired into senior roles at Zurich UK between January and November 2022, compared to the same period in 2019, the insurer has revealed.
Lawyers urge brokers to be vigilant about their own E&O
Law firm RPC has warned brokers to be vigilant about their own errors and omissions, and to stay on top of documentation against a backdrop of customers potentially opting for cheaper, but less protective insurance, in the cost-of-living crisis.