Commercial
Blog: Business continuity in a changing world
In Business Continuity Week, Ecclesiastical's Sarah Pearson, considers developing business resilience.
Biba 2021: Call for 'unified action' on PI problems
As the cost of PI soars, and insurers exit the market, Biba panellists call for brokers and insurers to collaborate to ensure customers get value.
Covid BI claims payments hit £701m
FCA figures show interim payments of £268.2m and final settlements of £433.1m since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 9,912.
Biba 2021: Unintended consequences from silent cyber 'knee jerk' reaction
The clampdown on silent cyber exposure has had unintended consequences for customers with some alterations too “broad brush”, according to Axa UK managing director, underwriting and technical services David Williams.
Third deal in a week for Seventeen Group as it snaps up Cornwall-based broker
Latest move sees specialist marine broker Christopher Rowe join Seventeen Group's stable and follows its purchases of Ryan's and Pinner Risk Solutions.
Interview: Allianz's Simon McGinn on challenges and opportunities in a hard market
McGinn discusses exiting certain trades amid a hard market, changing broker wordings after the Supreme Court judgment in the FCA test case and what is next for Allianz in the UK.
PIB buys Jersey-based CBCJ
Consolidator says the PI specialist broker will be integrated into its Guernsey-based business as it plans to expand across the Channel Islands.
Seventeen Group snaps up Ruislip-based broker
Deal for Pinner Risk Solutions follows its purchase of Ipswich-headquartered Ryan's last week.
Seventeen Group set to announce two more deals following swoop for Ryan's
CEO Paul Anscombe discusses his plans for Ryan's and reveals he is increasingly getting approached by brokers looking for an alternative to the consolidators.
Armco launches Cape Insurance
The consultancy has developed a niche risk and insurance adviser for property investors, developers and the construction sector.
Seventeen Group buys Ryan's
Ryan's will become part of James Hallam as chairman Tim Ryan is set to exit.
Zurich’s UK underwriting officer exits for global role
Hayley Robinson will be heading off to Switzerland to start as group chief underwriting officer in June.
RSA takeover to be completed in May
The provider has also released its Q1 results, revealing a combined operating ratio of 86%.
FCA spent almost £7m on BI court case
The regulator brought the case to provide clarity for policyholders on payment of business interruption claims arising from the pandemic and subsequent lockdown.
Countrywide pulls out of broker-distributed business
The legal indemnity specialist, which had been working with around 80 brokers, says it has decided to revert to a sole focus on solicitors.
Direct Insurance becomes Aventum
It’s UK broker operation, Direct Insurance London Market, has been re-named Consilium as part of a business restructure as the group teases M&A plans.
"No silver bullet" to fix industry reputation after BI backlash, says MGAA's Keating
Keating discusses the business interruption test case and the FCA's £7.5m special levy to recover the costs as he urges brokers, MGAs and insurers to pull together and rebuild trust in the sector.
Blog: Beware the hidden dangers of kerb appeal
As pubs, restaurants, and bars re-open with the use of outdoor areas and pavement seating, brokers need to ensure insurers are in the loop or risk disappointment when it comes to a claim warns Tom Hill, executive director at Aqueous Underwriting.
CFC creates Lloyd's syndicate
The syndicate has planned gross premium of over £100m for its first year of trading and will be managed by Asta Managing Agency.
Aviva opens buildings cover for properties affected by cladding to new customers
Move follows large premium increases in the market after the Grenfell fire and the provider urges brokers to sell the product net of commission on a fee basis to keep costs down.
Inperio unveils brokers' PI product
MGA says new offering is launched in response to rising rates and concerns about availability and affordability of cover after several providers introduced Covid-19 exclusions.
Network veteran, Les Brewin, joins Cobra
Purple-founder Brewin has been lured out of retirement to join the PIB-owned network.
FCA confirms MGAs are exempt from £7.5m BI special levy
The regulator has reissued its consultation paper on fee rates for 2021/22 after the initial document wrongly said that MGAs were expected to contribute.
Macbeth CEO: "We’re really pleased to add another string to our bow"
Paul Macbeth tells Insurance Age about how the broker's deal for Peter Lole came about and discusses his plans for the future.