News
Close Brothers seek consent to pay premium finance commission
From next week, Close Brothers will seek consent from commercial customers for the payment of broker commissions for premium finance.
Home insurers that reject half of claims named and shamed
Consumer watchdog Which? has named and shamed home insurers with a claims acceptance rate of less than 55%.
Yet another exit at Allianz as Major heads to HDI
HDI Global has this morning announced the appointment of Allianz Commercial’s Tom Major as its chief claims officer for the UK and Ireland.
Carpet-fitting fraudster’s dishonesty is laid out
After an investigation conducted by HF and Admiral Insurance, a carpet-fitting fraudster’s claim was flattened, saving the insurer £600,000.
UN insurance head highlights transition plan shortage
Butch Bacani, head of insurance for the United Nations Environment Programme, has said there are currently not enough underwriting transition plans in the insurance industry.
Unstructured data is ‘fundamental weakness’ of insurance industry
Guidewire CEO Mike Rosenbaum told a packed crowd that generative artificial intelligence can provide the edge to insurers in terms of data clarity.
Ex-BGL CEO Thompson joins Open GI as chair
Former BGL Insurance CEO Peter Thompson has joined Open GI as the organisation’s chair.
PRA finally throws Solvency II on Brexit bonfire
Four years after the Conservative Party promised a Brexit dividend for insurers, the Prudential Regulation Authority has published the set of rules that will replace the European Union’s Solvency II requirements.
Reeves announces consultation on UK captives regime
Rachel Reeves has announced a consultation on a new approach to regulating UK captive insurers in her first Mansion House speech as Chancellor of the Exchequer.
Howden buys Storfield; Hiscox’s drone partnership; SiriusPoint's CUO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Direct Line CIO Jokhoo to leave at the end of the year
Direct Line Group’s chief information officer, Ash Jokhoo, is to leave the insurer at the end of the year, Insurance Post can reveal.
LexisNexis develops check to address ‘squeeze on consumer finances’
LexisNexis has started to offer insurance providers predictive credit reporting and affordability solutions, in the aftermath of the industry’s premium finance issues.
Zurich to offer free neurodivergent assessments from 2025
From 2025, Zurich will be offering all employees the opportunity to be assessed for neurodiversity, after research found half of neurodivergent adults have been discriminated against by a hiring manager or recruiter.
UN forum finds ‘major gap’ in industry underwriting transition plans
The United Nations Forum for Insurance Transition to Net Zero has identified a “major gap” in the transition plans for insurance underwriting portfolios.
Ifed conducts operation to disrupt luxury watch fraud
The City of London Police’s Insurance Fraud Enforcement Department conducted a two-day operation at Heathrow Airport this week to disrupt the practice of high-value watch fraud.
CII’s CEO channels Truss during clash with PFS members
The Chartered Insurance Institute's CEO Matthew Hill used the words of the shortest-serving prime minister in British history when he came under fire from Personal Finance Society members at the latter’s annual general meeting on Armistice Day.
Probitas opens five lines of business following Aviva sale
Probitas will begin quoting for five new classes of business marking the first development since it was acquired by Aviva earlier this year.
FCA bans and fines broker £1.1m for misusing funds
The Financial Conduct Authority has banned Leigh Mackey from working in financial services and fined him £1.1m for misleading the FCA and misusing funds due to insurers.
Jensten names group CEO as Hardie steps down
Alistair Hardie is stepping own as group CEO of Jensten, as he looks to pursue a number of non-executive opportunities elsewhere.
DLG to axe 550 jobs by end of 2025
Direct Line Group has this morning confirmed that a consultation process has begun, with the aim of cutting about 550 roles by the end of 2025.
Convex’s Brand urges rivals to stop moaning about brokers’ profits
Paul Brand, CEO of Convex, has told carriers to focus on harnessing technology to drive down their own operational expenses rather than wishing brokers would charge less.