News
Which? sounds the alarm again on “eye-watering” motor and home insurance interest rates
Research by Which? has revealed the average annual percentage rate for motor insurance on monthly premium finance at 22% and 20% for home policies.
Arc Legal and HB Underwriting team up to tackle employer’s liability gap
Arc Legal Group has partnered with HB Underwriting to cater for the latter’s policyholders who find themselves as employers because of their care needs.
People Moves: 9 - 13 September 2024
Keep up to date with the latest insurance industry personnel moves.
Peach Pi partners with Starpeak on micro/SME insurance
Starpeak, the specialist digital distributor of insurance to niche online markets, has partnered with commercial insurer Peach Pi to co-create products designed specifically for the micro and SME market.
Markel raids Axa again as it builds out its senior regional UK broker team
Markel has appointed Charlotte Harrison to the role of head of UK regional broker development.
Gallagher renews Premiership Rugby sponsorship for three more years
Gallagher and Premiership Rugby have announced a multi-year renewal that will see the partnership extend to a decade together at the end of 2028.
Biba calls for IPT cut in Autumn Budget
The British Insurance Brokers’ Association has urged the government to cut the headline rate of insurance premium tax from 12% to 10% in the Autumn Budget on 30 October.
Six-year low, but 76% of UK properties still underinsured
The percentage of UK buildings underinsured has dropped to 76%, which while a six-year low is still “unacceptably high”, according to specialists.
Cinven buys half of Policy Expert
Private equity house Cinven has signed up to buy 50% of Policy Expert from the Abu Dhabi Investment Authority.
Markel launches FintechRisk+ policy
Markel has launched FintechRisk+ in its second insurance policy development of the week.
Biba and MGAA reveal formal affiliate status
The British Insurance Brokers’ Association and the Managing General Agents’ Association have become affiliates in a move they flagged formalised their working relationship.
Cyber stalking, abduction and bribery among risks covered by new Hiscox product
Hiscox has launched Personnel Security Plus
Addept and All Broker Services partner on ancillary insurance distribution
Specialist ancillary insurance providers Addept Insurance Services and All Broker Services have teamed up in a product distribution partnership.
Markel adds legal expenses to PI combined
Markel has added legal expenses cover as standard to its professional indemnity combined product in a move it stated was in response to broker feedback.
Stand-alone specialist energy MGA Navata launched
Thomas Miller has announced the launch of its standalone MGA business, Navata.
Marsh and LMG leaders call for proportionate regulation at parliamentary session
Chris Lay, CEO of Marsh McLennan UK and of Marsh in the UK, and Caroline Wagstaff CEO of the London Market Group, have called for proportionate and agile regulation of insurance in an evidence session at Parliament.
Aventum 100% staff owned as part of employee ownership scheme
Aventum is now 100% owned by its workforce under a new global employee ownership scheme with all staff having been rewarded with the equivalent of twice their annual salary in share value.
FCA warns principals against ‘tick-box’ approach to ARs
A review by the Financial Conduct Authority of its rules on appointed representatives has found some firms taking a tick-box approach to compliance, relying on basic information like website checks, or using self-declarations from their ARs to…
Axa UK & Ireland looks to Aviva for new CRO
Axa UK & Ireland has appointed Rahul Gumber as chief risk officer, subject to regulatory approval.
People Moves: 2 – 6 September 2024
Follow the latest insurance personnel moves.
Allianz reveals rise in cloned businesses motor fleet fraud attempts
Allianz UK has reported a “marked increase” in fake or cloned businesses claims coming through in the first half of the year, as it also highlighted strong collaboration with brokers has further heightened fraud awareness and detection.
Commercial Express launches tattoo and body piercing product
Commercial Express has launched a tattoo and body piercing product, giving brokers access to a customisable package product.
Lloyd’s notches up best interim COR since 2007 as profits grow
Lloyd’s has reported its combined operating ratio has improved to 83.7% in its half year results, its best interim COR since 2007.
HDI Global leader Stephanie Ogden reveals UK & Ireland exec team
Newly appointed CEO for HDI Global’s UK and Ireland business, Stephanie Ogden, has unveiled her new executive team.