Home insurance
Qmetric swings to loss
Policy Expert owner Qmetric Group Holdings has posted a post-tax loss of £9.99m as gross written premium broke through the £200m barrier.
FCA claims data shows customers get a ‘far better outcome’ via advised broking - Blanc
The FCA’s claims data on personal lines shows customers get a ‘far better outcome’ when taking advise through brokers, according to Aston Lark chief executive Peter Blanc.
Fair value? Which household insurers are rejecting the most claims?
Ageas, Axa UK and LV have some of the highest claims rejection rates in home insurance out of all the insurers who work with brokers, Financial Conduct Authority figures show.
Headline makers: December 2022
The key stories from the past month all in one place.
Under 20% of firms meet FCA expectations on attestation records
Only 11 out of 66 firms in the Financial Conduct Authority’s general insurance pricing review provided attestation records that met the regulator’s expectations.
Axa resumes SSP broker service after cutting off cyber-hit software house
Axa has resumed services with SSP having cut off services to the cyber-hit software house as a precautionary measure
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.
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.
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.
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.
Covea, Hiscox and RSA commit to Build Back Better
Covea, Hiscox and RSA have all committed to help the UK adapt to the changing climate by joining Flood Re’s Build Back Better scheme.
‘You would be a fool to ignore a business like Amazon’
Brokers confident in the strength of delivering advice as experts share their views on Amazon partnering with Ageas, LV and Co-op to launch a home insurance offering.
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.
Amazon partners with Ageas, LV and Co-op on home insurance launch
Amazon has moved into the UK home and contents insurance market with the launch of Amazon Insurance Store and promised more is yet to come.
Aviva still has fizz in broker personal lines friendships after Lemonade deal, says Hemming
Aviva is “absolutely open for personal lines business”, according to Gareth Hemming, managing director of UKGI distribution & SME.
Aviva backs Lemonade in UK launch
US insurtech Lemonade has launched in the UK with a contents insurance offering in partnership with Aviva.
FCA warns insurers to support customers’ wellbeing during cost of living crisis
The Financial Conduct Authority has expressed concerns, in a new 'Dear CEO' letter, that customers may cut-back on the insurance they need as pressure mounts on household budgets.
NBS Underwriting targets the third sector with combined package product launch
NBS Underwriting has rolled out its combined package product, Community Enterprise, and revealed a capacity deal with Axa on non-standard household policies.
Got You Covered names Lisa Powis as non-executive director
Personal lines insurance broker, Got You Covered, has added Fresh-founder Lisa Powis to its executive management team in an advisory role as non-executive director.
One Call reports £6.25m fall in profit, despite rise in turnover
One Call Insurance has reported a drop in profit to £10.75m (2020: £17m) for the financial year ended 31st December 2021.
Drop in complaints to FOS but buildings and motor insurance feature in top five
Buildings insurance and car/motorcycle insurance have featured in the Financial Ombudsman Service’s top five most complained about products for the first quarter of the financial year.
Biba encourages brokers to use its flood directory
The British Insurance Brokers’ Association has encouraged brokers to use its flood directory to ensure eligible households that are denied flood cover can still be offered it.