ESG
BoE exercise: No additional action scenario on climate change ups UK insurer losses by 50%
UK general insurers could face at least a 50% increase in average annualised losses in a non additional action on climate change scenario, a report by the Bank of England has detailed.
Editor letter - May 2022: Climate consideration
Why aren’t more brokers thinking about Net Zero?
Net Zero transition could double the size of London insurance market
LIIBA head, Christopher Croft, has urged London brokers to seize the “once in a century” $125bn opportunity created by the transition to Net Zero.
Zurich UK refreshes small fleet cover for electric vehicles
Zurich UK has added new cover and wording to its small fleet policy for firms with between two and 20 vehicles.
Amanda Blanc to co-chair Treasury’s climate transition plan taskforce
Aviva boss Amanda Blanc has been named as the co-chair of the government’s UK Transition Plan Taskforce along with John Glen, economic secretary to the Treasury.
Brokers shy away from net zero targets
According to research by Ecclesiastical only 5% of regional brokers have set a net zero target, Insurance Age can reveal.
Biba extends electric vehicle GAP scheme
The British Insurance Brokers’ Association has approved an extension to its exclusive GAP scheme with Jackson Lee Underwriting to include the recently launched electric vehicle early termination cover.
Extinction Rebellion blockades Lloyd’s
Climate protestors have used superglue, chains and bike locks to block 25 entrances into the iconic Lloyd’s building on Lime Street in London.
FCA to add 80 jobs focused on shutting down problem firms
The Financial Conduct Authority will focus resources on preventing serious harm, setting higher standards and promoting competition the watchdog detailed as it revealed its three-year strategy to improve outcomes.
Aviva and Allianz surveys flag inflation and climate impact issues for SMEs
Inflation has toppled business interruption as the number one concern for small businesses in a survey by Allianz Commercial while separate research by Aviva has found three-quarters of SMEs believe businesses should work on reducing their environmental…
Doing nothing on ESG is the biggest risk, brokers warned
Broker Summit attendees also hear from keynote speaker on leadership and resilience.
Zurich UK names Keppel as chief sustainability officer with Fernqvist becoming COO
The new roles will come into effect on 1 July subject to regulatory approval.
ESG round-up - March 2022
In our quarterly update, Insurance Age examines what the insurance world is doing to support the environmental, social and governance agenda.
Jackson Lee highlights EV as "growing opportunity" for brokers with new launch
Jackson Lee Underwriting has launched electric vehicle early termination cover for companies participating in salary sacrifice schemes, as part of a wider push into the EV space in 2022.
News analysis: Is it time for a regulatory rethink?
Regulation is stifling broker competition and innovation according to Biba, as regulators now face a House of Lords inquiry.
Blog: Aviva’s predictions for commercial lines brokers this year
Aviva’s Gareth Hemming considers how the next 12 months will pan out for the UK broker community.