Insurer
Trade bodies battle to trim FCA fair value paperwork ‘crippling’ small firms
Trade bodies are working with the Financial Conduct Authority to narrow down the focus of its fair value assessments which comes with a huge regulatory burden.
Specialty MGA UK launches with broker service promise
Specialty MGA UK has launched focusing on hard to place risks and specialty lines of business.
Biggest annual rise in five years as car premiums jump 14%
Average comprehensive car insurance premiums reached £586 in the third quarter, up 14% since Q3 2021 and by 6% in the last three months alone, according to research by Confused and WTW.
Kingfisher asserts "limited" impact despite $300,000 ransomware threat
Kingfisher Insurance has become the latest insurance company to be hit by a cyber attack but claims its impact was "very limited".
GI firms need to step back and consider what to do differently under Consumer Duty, says FCA
The insurance sector is well placed ahead of the implementation of new Consumer Duty rules but “there will be changes needed”, according to Daniel Hurl, head of market analysis and policy, insurance, at the Financial Conduct Authority.
Amazon partners with Ageas, LV and Co-op on home insurance launch
Amazon has moved into the UK home and contents insurance market with the launch of Amazon Insurance Store and promised more is yet to come.
Carey moves from Aviva to Allianz in new mid-market role
Aviva’s David Carey has jumped ship to Allianz Commercial in a newly created mid-market role effective from April 2023, subject to regulatory approval.
RSA becomes menopause friendly employer
RSA Insurance is now an accredited menopause friendly employer, making the announcement today on World Menopause Day.
Insurers and brokers detail employee help amid cost-of-living crisis
Numerous insurers and brokers have revealed one-off payments and wage increases for staff as the cost of living crisis hits worker's pockets. Insurance Age details some of the financial and other help being provided below.
Aviva adds Dave Martin as Gareth Hemming exits
Aviva has confirmed the appointment of Dave Martin as managing director of UKGI distribution & SME replacing Gareth Hemming who is leaving the insurer.
People Moves: 10-14 October 2022
Keep up to date on the latest personnel changes in insurance.
FCA contemplated commission level ban in flats insurance review
The Financial Conduct Authority “considered a number of options” as it worked on the multi-occupancy buildings insurance review and “one of them would include whether we should go forward and try to think about potential price caps or bans”, Sheldon…
Zurich to open offices in Bristol and Southampton
Zurich is set to open an office in Bristol this year and aims to open in Southampton next year, Insurance Age can reveal.
Insurance set for boom in machine learning, Bank of England survey finds
Insurance is growing its adoption of machine learning applications faster than any other financial sector, a Bank of England survey has found.
Pen Underwriting Limited revenues in UK rise as it targets £1bn GWP
Pen Underwriting Limited’s turnover in the UK rose by 1% in 2021 as it remained on course for its £1bn gross written premium target, according to year-end accounts filed at Companies House.
MS Amlin Underwriting names Andrew Carrier as CEO
MS Amlin Underwriting has appointed Andrew Carrier as CEO, he is currently chief underwriting officer and will take up the role on 1 January 2023, subject to regulatory approval.
Blog: What next for ex-Zurich retail boss Martin?
As revealed by Insurance Age, Zurich head of retail Dave Martin has flown the nest. With the next home yet to be announced Emmanuel Kenning looks at where he might land
FCA continues to flounder on approved person authorisation targets
The Financial Conduct Authority is falling short on targets in speedily giving individuals approved person status to carry out work and has posted a worsening performance on approving changes of control requests for firms.
RSA survey reveals underinsurance concern among brokers
Research which was conducted by Censuswide among 207 brokers on behalf of RSA last month, has revealed that 93% of brokers believe underinsurance poses a major threat to UK businesses during economic unrest.
Lloyd’s finishes cyber threat investigation and starts restoring online systems
Lloyd’s has found “no evidence” its systems were compromised following an investigation into a cyber threat.
Market Moves – October 2022
The latest recruitment news from around the industry.
Products: October 2022
Product launches including cover for electric vehicles, carbon credit insurance, the media and entertainment sector and private clients.
Headline Makers: October 2022
The key stories from the past month all in one place.
Lloyd’s cyber probe ‘advanced’ but online systems remain in shutdown
Lloyd’s external connectivity remains in shutdown as it continues to investigate the cyber threat that emerged last week.