News
MPs call for FCA to break up
MPs say regulator is "outdated and unfair" and merits re-examination.
Profits fall 46% for JLT
However revenue grows to £619.4m and profit drop is blamed on investment and exceptional costs.
Hiscox to focus on cyber and e-trade
Group chief underwriting officer Richard Watson says that insurer hopes to continue to grow alongside broker partners as it develops cyber and SME offering.
Enterprise Insurance ordered to stop writing new business
The Gibraltar Financial Services Commission states company is insolvent and that it intends to appoint a liquidator.
Hiscox UK grows GWP to £244.4m
As Hiscox UK and Europe drives down COR to 79.9% for H1 2016 from 86.8% in 2015.
#Insagepeople: 25 to 31 July 2016
Keep abreast of the movers and shakers in the insurance world this week.
Insurance Octopus bought by Verastar
Commercial broker has been acquired for an undisclosed sum by the service provider.
Brokers say FCA's AR attack “fair”
Experts say that brokers taking on appointed representatives need to be aware of the "huge responsibility".
Biba warns industry on using ARs
Businesses must have appropriate processes and supervision in place wherever the AR distribution method is used.
AR network leaders welcome thematic review findings
Biba boss highlights that with an appointed rep a firm “is lending its regulatory permission to someone else and with that lending its name”.
Quizzical questions: 22 July 2016
Test your knowledge of the week's news with our topical news quiz.
FCA slams oversight of appointed representatives
Regulator finds “significant shortcomings” and orders two companies to stop sales activity.
Broking Break: Your top five on a Friday
What were the most popular stories this week?
Mann Broadbent targets lesiure clubs with sports product launch
Policy covers playing surfaces, floodlights and trophies.
Beazley posts dip in post-tax profits
GWP rises for first six months of 2016.
Best Employer line-up revealed
Winner to be announced at the UK Broker Awards in September.
InsurTech Futures: Fintech growth could create “insurance underclass”
CII report warns that use of fintech and big data could lead to some people being uninsurable.
Former broker Craig Tracey to become co-chair of APPG for Insurance and Financial Services
Former insurance broker Craig Tracey is to take over as co-chair of the All Party Parliamentary Group for Insurance and Financial Services.
Insurance industry awaits apprentice levy update
CII welcomes Robert Halfon’s appointment as government minister.
Court rules for "collateral lie" gets mixed reaction
Industry warned fraud problem could grow after legal ruling.
UKGlobal Risk Solutions targets expansion after ownership deal
Family of former Oval chief Phillip Hodson involved in deal.
LexisNexis Risk Solutions buys Insurance Initiatives Limited
The acquisition can help UK insurers win new opportunities with data and advanced analytics.
“Collateral lies” acceptable in claims rules court
Supreme Court decides that “collateral lies” should not invalidate a claim.
No “bonfire of regulation” post Brexit, says FCA chief
Andrew Bailey said he does not foresee a “great bonfire of regulation” as watchdog sets up department to deal with EU exit.