Motor
Freedom Service Group reveals permanent 4-day work week
Freedom Service Group has revealed that its four-day week pilot was a success and the offering will be introduced permanently from January 2023.
Fitch warns of deteriorating outlook for UK insurers
Fitch Ratings has delivered a split forecast for 2023 with the outlook for company market insurers deteriorating while London Market players have a ‘neutral’ ranking.
FCA sinking 'into a quicksand’ – brokers react to latest threat on fair value
The Financial Conduct Authority is sinking 'into a quicksand’ as it ups the ante over insurance firms failing to offer customers fair value.
Insurers face fresh broker scrutiny on fair value amid latest FCA data
Brokers have been told the Financial Conduct Authority’s latest release of fair value data raises searching questions over whether their insurer partners are offering fair value.
GRP hails ‘biggest deal’ since Brown & Brown investment
Global Risk Partners has bought Flint Insurance for an undisclosed sum, hailing it as the biggest deal since the Brown & Brown takeover.
FCA takes aim at gap between industry statements and results of first value measures data
The Financial Conduct Authority has warned it will consider which tools it can use to protect consumers as it unveiled its first personal lines value measures data.
Kitsune enters administration after reinsurance renewal declined
Specialist motor managing general agent Kitsune Associates has entered administration after its reinsurance renewal was declined.
EY: UK motor and home insurers to report largest losses in a decade
According to a report by EY, UK motor and home insurers are expected to make the biggest annual loss in over a decade this year, with further losses forecast for 2023.
PIB swoops for personal lines specialist Jigsaw Insurance
PIB is poised to buy Harrogate-headquartered broker Jigsaw Insurance Services Plc for up to £24.12m in cash marking a significant step in personal lines for the consolidator.
Development Bank of Wales invests in start-up broker
The Development Bank of Wales has invested £250,000 in Cardiff-based Driverly leading a pre-seed investment round of £525,000.
MD of AbbeyAutoline urges brokers to pledge their commitment to D&I
Managing director of AbbeyAutoline, Julie Gibbons, has called on brokers to formalise their policies and pledge their commitment to diversity and inclusion.
Ex-Policy Shop CEO Sean Byrne joins Got You Covered as MD
The Policy Shop founder and former CEO Sean Byrne has joined niche motor and personal lines insurance broker Got You Covered as managing director, reporting to CEO Rob Leigh.
Broker Expo 2022: Brokers warned get "on the front foot" to combat disintermediation threat
The biggest threats to commercial brokers include an inability to understand new growing industries, disintermediation through embedded insurance and talent recruitment.
In Depth: Taxi and private hire insurance faced with slow recovery
Sophie Locke-Cooper investigates the impact Covid-19 has had on taxi and private hire insurance, as the sector gets to grips with social and economic changes post-pandemic
In Depth: On the road again - haulage under the spotlight
Too few drivers, Brexit redtape and more theft have put the haulage sector under immense strain, but specialists say there are some positive signs showing the sector can keep on trucking, facilitated by expert brokers and insurers as Rachel Gordon…
Market Moves - November 2022
The latest recruitment news from around the industry.
Stark drop on most schemes at renewal and for commission earnings
Data provided by SchemeServe has revealed a considerable drop across the board on most schemes with the biggest falls being in cyber.
Atlanta reveals Be Wiser price tag
Ardonagh paid £6.3m in cash for the business and assets of motor broker Be Wiser Insurance last year.
Buildings insurance drops out of FOS’ top five complaints table
Complaints to the Financial Ombudsman Service about buildings insurance were down fractionally at 1,621 in the second quarter as it fell out of the top five most complained about products.
Buyer gears up for Markerstudy insurer swoop amid QIC exit
Qatar Insurance Company wants to exit loss making business and is poised to sell its Gibraltar-based direct insurance carriers.
No major impact on insurers by inflation: report
Plenum Investments’ 2022 half year report has shown that inflation has not had a serious impact on the insurance sector, except for UK motor insurers, and higher interest rates gave led to an improvement in Solvency II positions.
Alan Atkins new CEO at MCE Insurance
MCE Insurance has a new CEO, with Alan Atkins taking up the mantle and former CEO Julian Edwards stepping into role of executive chair.
Biggest annual rise in five years as car premiums jump 14%
Average comprehensive car insurance premiums reached £586 in the third quarter, up 14% since Q3 2021 and by 6% in the last three months alone, according to research by Confused and WTW.
NFP acquires one of the largest brokers in Staffordshire
NFP has acquired Bentley Insurance Services, its fifth broker acquisition in two years.