Home insurance
FCA fines Lloyds Bank £90.7m for failings in home insurance renewal letters
The regulator says LBGI sent renewal communications including misleading language between 2009 and 2017.
UK boss Middle lifts lid on Ageas's restructure and job cuts
Ageas's Ant Middle and Adam Beckett discuss the provider's strategy change in response to shifts in customer behaviour, and the FCA's dual pricing ban, as the insurer aims to hit £1.5bn in GWP.
Biba launches home insurance scheme
Biba has stated that the scheme offers comprehensive cover, including unlimited buildings cover and £80,000 of contents cover with a single unspecified item limit of £5,000.
Ghost broking remains "significant threat", warns Aviva
Provider says general insurance fraud escalated during the pandemic as it predicts recessionary factors caused by Covid-19 have "created the biggest fraud threat to customers in a generation".
Industry warned of "bumpy ride" ahead after FCA confirms dual pricing ban
While insurance experts have welcomed the regulator's new rules on pricing, coming into force in January 2022, some warn that the reforms will present challenges for the sector.
FCA wraps up rules on dual pricing ban
The regulator has said that the new rules on pricing, auto-renewal and data reporting remedies come into effect on 1 January 2022.
A-Plan opens branch in Haywards Heath
The broker has said it plans to open four more branches in the next six months.
Open GI partners with Arkel on home product
The product offers cover for standard and non-standard risks for all types of properties and is now available to Open GI's broker customers.
Millennials failing to buy contents cover
The generational divide is a key finding of a survey which insurtech Getsafe conducted among 2,069 British citizens.
FCA spent nearly £4m on dual pricing market study
Staff costs made up most of the total spend as the FCA also reveals it received 101 responses to its consultation paper outlining proposed remedies, which included a ban on dual pricing practices.
Getsafe targets becoming the go-to brand for UK millennials
One year after launching its first product in the UK, Getsafe CEO Christian Wiens tells Insurance Age about the insurtech's expansion plans.
Getsafe and Hiscox end contents insurance partnership
The company has chosen to team up with Wakam, deeming it “a more flexible European capacity provider.”
Call for clarity on final rules amid FCA dual pricing extension
The regulator's plan to ban the loyalty penalty is met with approval from the industry, but some criticise the FCA's approach as firms still do not know what the final rules are.
Insurtech So-Sure expands into home insurance
The insurance startup company, which is known for its gadget insurance, is now offering its customers home insurance as well.
FCA extends dual pricing timetable
Following consultation the regulator has given firms fresh deadlines to implement rules relating to the loyalty penalty.
MGA Arkel adds its Adapt product to SSP
The household insurance proposition will be available on the software house’s broker platforms.
Profit and turnover up for Admiral Group
Profit before tax was driven by strong reserve releases and lower claims frequency.
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.
Uinsure adds Covéa Insurance to its broker platform
Uinsure is seeking to grow broker distribution of home insurance products.
Blog: The five unintended consequences of price-walking
Ignite Systems MD Toby MacLachlan discusses what can go wrong after the FCA signalled its intent to ban dual pricing practises in the home and motor insurance markets earlier this year.
Markerstudy & Co-op confirm completion of £185m deal after two year wait
The transaction, which will boost Markerstudy's GWP by £500m, was first announced in January 2019 and has previously been criticised by Union Unite after it was revealed that it could result in 200 job losses.
Home insurance premiums continue slide as lockdown keeps criminals at bay
Research from Consumer Intelligence shows premium reductions are accelerating as the year draws to a close.
CMA fines ComparetheMarket £17.9m
The watchdog says the comparison website breached competition law by using clauses prohibiting home insurers to offer lower prices on other aggregator sites, resulting in higher premiums.
Ageas reports 94.6% COR
The provider said Q3 numbers were “healthy” and reflected lower claims frequency and strong prior year releases.