Insurer
Insurtech Stubben Edge raises £10m
Broker technology specialist Stubben Edge has secured a £10m investment in its latest funding round led by Dowgate Capital.
Convex publicly rules out insuring Adani and further thermal coal production
Convex has ruled out insuring Adani’s Carmichael coal mine and any new thermal coal production following pressure from climate change campaigners.
Ex-ERS boss Ian Parker joins Catalina as group CEO
Ian Parker has been appointed as group CEO of run-off specialist insurer Catalina Holdings (Bermuda).
Charles Taylor buys majority stake in insurtech Fraud Keeper
Charles Taylor has bought a majority stake of automation and artificial intelligence software as a service platform Fraud Keeper, Post can reveal.
Allianz hits 100% renewable electricity in UK offices target
Allianz Holdings, which comprises Allianz Commercial and Allianz Personal, has revealed that 100% of the electricity its UK offices use now comes from renewable sources.
Chubb promotes Jon Houghton to head of distribution for UK and Ireland
Chubb has made Jon Houghton head of distribution for the UK and Ireland expanding his previous role as distribution manager for national brokers in the region.
Abacai’s Day Insure pursued for £500,000 plus by M&A advisory firm
Financial advisory firm Imas is seeking at least £500,000 from Day Insure in a suit that has revealed Aviva, PIB, Pikl, Sabre and Vantage were all in the frame to buy the broker.
Zurich’s David Nichols explains why customer communication is key to tackling the global supply chain challenge
The global supply chain challenge has far-reaching implications for every financial sector. David Nichols, UK chief claims officer at Zurich Insurance, details the importance of keeping customers and suppliers both informed and engaged.
Analysis: Illegal e-scooters hit insurer claims reserves to tune of 'hundreds of thousands'
Insurers are already reserving ‘hundreds of thousands’ of pounds for collisions involving third-party private e-scooters – but the vehicles aren’t legal on public roads yet.
FCA issues fair value warning amid government's flats insurance review order
The Financial Conduct Authority has written Dear CEO letters to insurers and brokers, putting pricing models, product fair value and commission in the spotlight after the government ordered a review into the "failing" insurance market for leaseholders.
Michael Gove orders review into ‘failing’ insurance market for leaseholders
The government has called on the Financial Conduct Authority to start a probe into the “crippling costs” of insurance premiums for residents of blocks of flats as it hit out at the current unacceptable situation.
Tesco offers refunds after 'misleading information' motor insurance renewal breach
Tesco Bank will refund some motor insurance customers following a breach regarding "misleading information" about no claims bonus protection in renewal letters.
Outlook deteriorating for UK non-life company market: Fitch
The market combined ratios for motor and home insurance will be north of 100% in 2022, Fitch has forecast.
Insurance in the vanguard on consumer duty, says FCA’s Matt Brewis
The Financial Conduct Authority sees insurance as ahead of the game on consumer duty after the work on pricing and value in recent years, the regulator’s director of insurance and conduct specialists Matt Brewis has indicated.
General Insurance Fraud Committee hopeful on spam advert legislation
The General Insurance Fraud Committee is hopeful that online advertising will be included in the Online Safety Bill, Clare Lunn, director of financial crime at LV GI and chair of the GIFC told Post.
Biba calls for IPT cut to 10% with 2022 manifesto launch
The British Insurance Brokers’ Association has urged the government to cut Insurance Premium Tax to 10% in the next budget and pushed for targeted relief for three areas.
Das compensation in ex-CEO fraud case lowered as insurer’s 'lack of candour' criticised
Das is now set to receive £5.96m rather than £8.28m in compensation from its fraud case against three former senior employees.
LV’s Michael Lawrence on the trends and changes in the broker market
Michael Lawrence, distribution and underwriting director for LV Broker, assesses the 2021 developments in the broker market and explains how resilience, versatility and a clear strategy will be as important as ever this year.
Inquiry launched into commercial insurance and reinsurance market
The Lords' Industry and Regulators Committee has launched an inquiry into commercial insurance and reinsurance regulation.
Intelligence: Insuring the growing US cannabis market
Last year Malta became the first European nation to legalise cannabis after the United Nations reclassified the drug to recognise its therapeutic uses and – with other EU countries looking to follow suit – Post spoke to the specialists striving to meet…
PRA flags climate change and silent cyber in Dear CEO letter to insurers
The Prudential Regulation Authority has warned insurers on the need to consider silent cyber exposures and that progress on embedding supervisory expectations on climate change has not been consistent across all firms.
DfT denies smart motorways debuted prematurely as rollout paused
The decision to pause the introduction of new all lane running smart motorway schemes, which saw 39 deaths between 2015 and 2019, until five years’ worth of data is available has been welcomed by insurers.
Aspen launches ESG integration initiative ‘Project Leaf’
Aspen has formally launched Project Leaf, an environmental, social and governance integration strategy that will incorporate ESG information into the decision making process for its credit and political risk portfolio.
First Underwriting targeting 30% growth after £1bn capacity deal
Managing general agent First Underwriting has revealed a five-year £1bn capacity deal with Accredited Insurance (Europe).