Commercial
FCA urges brokers to help leaseholders in response to Gove request
The FCA's Sheldon Mills fires warning shot on broker commission transparency and adds the regulator will "use its powers to intervene" as he issues 'Dear CEO' letter amid review of the insurance market for multiple-occupancy homes.
Michael Gove calls on FCA to review rising premiums for residential buildings
In a letter to the FCA and the CMA, the Secretary of State for Levelling Up, Housing and Communities writes he is "extremely concerned" about the pressure leaseholders face from rapidly escalating insurance premiums on blocks of flats following the…
Beazley report warns of 2022 business risks
The study suggests that 2022 may be the year in which supply chain, D&O, reputation and employment liability concerns ‘leak’ across insurance classes, creating complex, integrated risks with no “obvious or traditional insurance solution”.
Biba focuses on ‘managing risk’ as manifesto theme
The trade body launched its manifesto and revealed UK brokers arrange £74bn of insurance per year.
Biba calls for IPT relief in 2022
The trade association has asked government to reduce IPT to 10% in areas such as property, telematics, and cyber as it also pleads for a simplification of insurance tax in the travel sector.
CFC Underwriting tops the Insurance Age broker cyber poll
Specialist company CFC Underwriting has won out, with Travelers and NMU also in close contention, as the UK’s leading eight cyber insurers are revealed based on broker opinion
New broker NW Risk Solutions launches
NWRS, led by MD Peter Stevenson, has joined James Hallam's Appointed Representative Partnership Programme.
PIB buys Dublin-based broker
Tierneys is the consolidator's fifth investment in Ireland.
People Moves: 24-28 January 2022
Stay up-to-date with the latest personnel changes in insurance.
Lords starts hearing evidence in insurance market regulation inquiry
The House of Lords Industry and Regulators Committee kicked off its investigation which focuses on the commercial insurance and reinsurance market on 14 January.
Pen extends links with QBE for £300m capacity deal
The long term agreement is for three years and covers a range of sectors.
Clear Group buys Ashford-based broker
Clear makes first acquisition of the year as it snaps up Kent Insurance Brokers.
Covid BI claims payments now at £1.3bn
FCA data shows providers have now made initial payments worth £329.4m and final settlements of £967.9m.
Acrisure highlights £1bn GWP aim as it moves to "disrupt" UK broking
President of UK Retail, Mark McIlquham, tells Insurance Age about the US-headquartered broker's UK expansion plans and reveals it is targeting £1bn in GWP within five years.
Blanc exits Hastings board as Mark Cliff steps in
The former Brightside boss has joined Hastings as non-executive director following Peter Blanc's resignation prompted by the Aston Lark-Howden deal.
Insurers face another Covid-19 business interruption action group
The grouping of bar and restaurant owners is set to launch another test case, this time against RSA and QIC Europe, focusing on recovering indemnity for the UK’s multiple lockdowns.
Howden reports 48% revenue rise for 2021
The broker, which recently bought Aston Lark, also reveals organic growth of 19% for the year.
Allianz appoints regional branch manager
The insurer revealed that Karen Boothroyd had been appointed to the newly created role as part of its commercial regions reshuffle.
First Underwriting eyes £130m GWP
The MGA is also looking to expand into fresh product lines following its £1bn capacity deal with Accredited.
CBPE completes Direct Commercial deal
After receiving backing from CBPE, the MGA will sit alongside Carraig Insurance under Direct Commercial Group.
Opinion: New year, right cover
Allianz's Helen Bryant considers how businesses have developed during Covid-19 and outlines key ways their insurance needs may have changed.
Aviva to boost underwriting team in move to invest in regional brokers
Chief distribution officer Gareth Hemming says the provider is initially planning to increase the size of its underwriting team in the regions by 10%.
H&H Insurance buys Tynedale broker
Tynedale Insurance Services was founded in 2015 and is based in Hexham.
XS Direct goes into run-off in Ireland
The broker confirmed that, as a result, staff at its Dublin headquarters had been informed that they would be made redundant.