News
InsurTech Futures: Aviva-backed Neos sells 75,000 smart cameras
Home insurance provider will soon be targeting brokers too.
#Insagepeople 22-26 July 2019
Stay up to date with the latest people moves.
Mason Owen buys Business Insurance Services
Liverpool-based company says the broker is its first deal in the insurance sector.
Beazley’s COR worsens to 100% in H1 2019
But provider also reveals 189% pre-tax profit jump as new head of broker relations, Lou Ann Layton, states there is “lots of room for growth in the brokerage community”.
Cobra Network seeks to double in size by 2021
The network boss Andy Tedstone reveals his plans for the newly-acquired business which he insisted will retain independence from PIB.
XL Catlin v Orbit Underwriting court case settled
Case against wholesale broker, which is in administration, related to the misuse of funds.
FCA pledges tough action for vulnerable customers amid consultation launch
Insurance Cares: Watchdog says it will implement measures to ensure consumers are treated fairly.
CEO for Cobra Network revealed
Former boss Steve Burrows is set to remain as a consultant for the firm which recently became part of PIB.
Axa XL partly pulls out of leisure
Insurer to stop working with UK-based coverholder LeisureInsure from 1 August in a move which hits the Irish market.
Ecclesiastical launches risk management modules
The guidance modules will educate brokers on issues facing heritage properties.
GRP buys Lancashire-based 3XD
Broker specialises in household, landlord and learner driver insurance and all staff will remain with the business.
MOJ defends discount rate decision
The government hits back at criticism from the ABI pointing out a rate of between 0-1% was never guaranteed.
The Insurance Age Podcast: 19 July 2019
The Insurance Age editorial team dig into this week's top stories.
NED salaries in the insurance sector revealed
Research shows brokers pay their non-executive directors 18% less than insurers do.
FSCS agrees Alpha replacement cover deal
Collapsed Danish insurer's latent defect policyholders will now be covered by a new, solvent insurer.
Brokers must transform to evade threat of AI - report
Publication suggests that brokers who rely on their paperwork skills or only act as a go-between the client and underwriter will be challenged by AI solutions.
ABI bites back on discount rate
UPDATED: The association said the impact assessment is “misleading and disingenuous” in a letter to Lord Chancellor, David Gauke, following the announcement it would be set at -0.25%.
Quizzical questions: 19 July 2019
Test your knowledge of the week's news with our topical quiz.
Mactavish criticises industry for "knee-jerk reaction" in hardening market
Technical director Rob Smart warns of capacity issues in construction and urges brokers to get started early to avoid leaving companies without insurance.
FCA reiterates dual pricing concerns
CII urges insurers to act now as FCA says findings from GI market study into dual pricing will be published later this year.
Construction firm unable to find insurance due to lack of capacity
Howden says current situation has put "incredible pressure" on the only compliant scheme available to customers.
Victor reaches out to brokers following CEO change
The managing general underwriter, previously Bluefin Underwriting, is looking to develop more products and expand into new lines of business.
Biba warns of scammers targeting brokers
Fraudsters are claiming to sell attendee data from the Biba conference, but trade body confirms it has not had a data breach.
Hedge fund takes stake in Saga
Elliot has invested in the insurance and travel provider.