Covid-19
Aviva's UK operating profit falls in 2020
CEO Amanda Blanc sees opportunities for "material growth" in the UK market as commercial lines premiums continue to grow.
Hiscox posts £192m loss in 2020
Provider says results were impacted by the pandemic, as COR worsened to 114.5% while GWP remained flat.
Masojada: Hiscox regrets "anguish and uncertainty" caused by Covid-19 BI dispute
CEO discusses the need for the insurer to rebuild its brand and reputation as a result of the BI disagreement as insurer posts £192.4m loss for 2020.
News analysis: Are we heading for an underinsurance crisis?
Difficult conversations on horizon for brokers as SMEs seek to cut costs amid economic uncertainty due to business squeeze from Covid, Brexit and harder market
Pressure mounts on government to underwrite live events
Broker-led group pushes for more support as March deadline for festivals to get insurance looms.
Interview: Ecclesiastical's Richard Coleman
MD of UKGI, Richard Coleman, tells Insurance Age about the provider's plans to modernise its brand and discusses the business interruption test case and Ecclesiastical's approach to working with brokers.
Iprism develops unoccupied property product
The MGA said it developed the proposition in anticipation of a spike in empty properties due to post-Covid disruption.
RSA UK COR deteriorates to 101.8%
The insurer said the UK figures were “heavily impacted” by Covid-19 and, excluding the pandemic the UK COR was 95.8%, as CEO Hester reflects on group performance since 2014 and flags exit.
ERS posts surge in profit for 2020
COR also improved, while GWP was down on 2019 after a number of products lines were "materially affected" by Covid-19.
Blog: The light at the end of the tunnel?
Stuart Kilpatrick, of Burns & Wilcox, a HW Kaufman company, considers how the tough market could evolve in a post-Covid world.
Ageas reports 95.2% COR
The improved position was down to lower motor claims due to the lockdown as the insurer reports growth in broker deals for household and commercial.
Broker wordings behind Allianz's Covid-19 BI claims hit
UK CEO Jon Dye discusses the business interruption test case and why communication with brokers is critical, after Allianz revealed its total impact of Covid-19 BI claims in 2020 was £175m, net of reinsurance.
Allianz nears £4bn in GWP
Provider says total impact of Covid-19 BI claims in 2020 was £175m and details it has to date paid 78% of valid SME claims.
Rock develops underwriting agency to target brokers
Tigon focuses on travel and Covid-19 cancellation cover as Rock seeks to diversify.
FCA and insurers disagree on how to interpret Supreme Court BI ruling
Regulator says Supreme Court decision gives insurers the clarity they need to conclude their claims processes with most of their BI customers but a few issues still remain as parties make written submissions to the Supreme Court.
Gauntlet looks to sign up more ARs with new de-authorisation proposition
The offering is aimed at smaller brokers struggling to cope with the Covid-19 lockdown and sees Gauntlet taking over responsibility for IT, compliance and client money handling.
Simply Business teams up with Equipsme for health plan push
Simply Business has partnered with insurtech MGA Equipsme to allow its customers to directly purchase health insurance plans online for the first time.
Blog: No end in sight to current lockdown adds to the stress for SMEs
Aviva’s Dave Carey discusses pandemic-related challenges for SMEs and what brokers and insurers can do to help.
Zurich UK reports 75% fall in GI operating profit for 2020
Combined operating ratio for the UK business deteriorated to 97.8%, but GWP was up by 11%.
Aqueous unveils lockdown unoccupancy cover for retail and hospitality clients
MGA says cover will be triggered automatically in the event of a new lockdown of any duration, without the need for the broker to request it.
Biba zones in on resilience in 2021 manifesto
Manifesto includes a number of commitments from the broker trade body, covering areas including underinsurance as a result of the pandemic, IPT, cyber insurance and signposting to help customers access insurance.
Blog: How can insurers support brokers and allow staff to work flexibly?
Zurich's David Martin reflects on how Zurich manages to balance the two as more providers move to flexible working for staff.
Covid claims push Beazley to $50.4m loss in 2020
COR deteriorates to 109%, but the provider says its outlook is positive as it also posts 19% rise in GWP.
Roundtable: Seize the day - The opportunity around digital transformation
Our expert panel discuss how the lockdown pushed them to accelerate the use of technology and explore how it may open new doors post-pandemic