Motor
Fitch: Improving outlook for insurers but no room for complacency
The effect of “baked in” pricing improvements and easing economic headwinds gives an improving outlook for insurers this year, but will only make it less bad than 2023, according to Fitch.
Amazon to shut Insurance Store after just over a year
Amazon is closing its UK Insurance Store, which was launched with great fanfare in October 2022.
Howden buys Scottish broker Laurie Ross
Howden has bought Glasgow-headquartered personal and commercial lines broker Laurie Ross.
French wholesaler buys motor specialist broker Lexham Insurance
April, a wholesale insurance broker in France and Europe, has bought two-wheeler insurance specialist Lexham Insurance.
Qmetric reveals £41m loss in run-up to sale
Policy Expert owner Qmetric lost £41.06m last financial year ahead of being bought by the Abu Dhabi Investment Authority, which has gone on to invest £35m in the business.
Allianz drops LV brand in broker channel
Allianz will rebrand LV Broker in May, the insurer has confirmed.
Ghost broker who targeted Sudanese community sentenced
The City of London Police have revealed a man who offered fraudulent motor insurance policies to Sudanese nationals living in the UK has been sentenced to 10 months’ imprisonment, suspended for 12 months.
Car insurance premiums surge 58% in a year
According to research by WTW and Confused, car insurance premiums have soared to a record high with a 58% rise in 2023.
Biba launches three claims guides for members
The British Insurance Brokers’ Association has unveiled three claims guides for members to use, to help customers better navigate the claims process for home, motor and travel insurance.
Biba unveils ‘Managing risk for growth and economic security’ theme for 2024 manifesto
The British Insurance Brokers’ Association has called for a proportionate regulatory framework that can facilitate growth as it unveiled its 2024 manifesto, ‘Managing risk for growth and economic security’.
Review of the Year 2023: Pearson Ham's Stephen Kennedy
Stephen Kennedy of the Pearson Ham Group assesses how the phrase ‘unprecedented premium increases’ took centre stage in 2023 and why rates are likely to stabilise next year.
Review of the Year 2023: Technology experts
Manoj Pant from Pega, Bradley O’Connor from Miller, and Tom Lawrie-Fussey from LexisNexis Risk Solutions offer perspectives on the year and predictions for 2024 from a technology expert perspective.
Allianz has all the ingredients to be the go-to on mid-market for brokers, says Carey
Dave Carey, managing director for mid-market at Allianz Commercial, is upbeat on the prospects for the insurer working in partnership with brokers as he reveals the characteristics-based underwriting approach for 2024.
Review of the Year 2023: Direct Commercial’s Adam Marsh
Adam Marsh, head of agency and development at Direct Commercial reflects on asking ChatGPT why commercial motor insurance should use AI and why good service is frequently over-promised and under-delivered.
FOS motor insurance complaints soar again to new five-year high
The Financial Ombudsman Service received 4,036 complaints about car and motorcycle insurance between July and September driven by disputes over vehicle valuation, customer service issues, and delays in claim settlements.
Former RSA employee who stole and sold customer details jailed
An ex-RSA employee has been jailed for stealing customer details and selling them to claims management companies.
EY predicts worst UK motor performance since 2010 with industry NCR of 114.6%
EY has revised its prediction for the UK motor insurance market and now expects this year will be the worst since 2010 with a net combined ratio of 114.6%.
Abacai to pull out of broker business with CCG book transfer
Abacai is to pull out of brokered business in 2024 transferring the panel book of subsidiary Complete Cover Group to UDrive, Insurance Age can reveal.
The Green Insurer launches on CDL’s Strata
The Green Insurer has opened for business claiming to be the UK’s first truly green car insurance broker.
RSA sells home and pet books to Admiral and confirms UK PL withdrawal
Intact Financial Corporation has reached an agreement to sell RSA’s UK direct personal lines operations, representing approximately £165m of annual premiums, to Admiral Group.
Ripe adds motorhomes and campervans to portfolio
Insurtech broker Ripe has expanded its product portfolio with the launch of motorhomes and campervans insurance.
Flock to push on broker relationships with NIG fleet partnership
Insurtech Flock has partnered with NIG on fleet insurance in a move that will also involve opening up more broker relationships, according to Ed Leon Klinger, CEO of the managing general agent.
Bspoke signs up to buy Police & Forces Mutual personal lines books from Royal London
Bspoke Insurance Group has struck a deal to buy the personal lines elements of the Police & Forces Mutual businesses – Police Mutual Healthcare and Police Mutual General Insurance – from The Royal London Mutual Insurance Society.
Aviva uncovered £120m of fraudulent claims in 2022
Aviva has revealed that it uncovered more than 9,250 instances of fraud in 2022 – saving customers £120m.