Insight
Brokers should push for 12-month BI indemnity periods to be extended
The 12-month indemnity period in business interruption insurance cover should be consigned to history and replaced with a minimum 18- to 24-month one as standard.
Blog: Homing in on high-net-worth claims
Quality service, especially for claims, should not be lost in any efficiency drive when it comes to expansion in the high-net-worth space, warns Simon Loerns, director of specialist services at Woodgate & Clark loss adjusters.
Adrian Furness leaving Covéa; Georges de Macedo named CEO
Georges de Macedo has been named CEO of Covéa Insurance with immediate effect, succeeding Adrian Furness, who is leaving the business, the insurer has confirmed.
FCA issues restrictions on four insurance ARs in 10-firm crackdown
The Financial Conduct Authority has put 10 firms under restrictions for failing to meet its expectations on overseeing appointed representatives including four in the insurance industry.
Liberty Mutual keeps Hughes in near £2bn assets sale to Generali
Liberty Mutual Insurance has held on to Northern Ireland-based broker Hughes Insurance as it struck a deal to sell its personal lines and small commercial operations in Western Europe to Generali for €2.3bn (£1.97bn).
People Moves: 12 – 16 June 2023
Stay in the loop with the latest personnel moves in insurance.
Meet the MGA: Inperio
After applying for a holiday job, Inperio director Simon Lovat began a career in insurance and rose through the ranks of the industry. He now runs a successful managing general agency and a number of businesses that sit alongside it. He gives his tips on…
Ceta Insurance posts 24% turnover growth for 2022
Niche personal lines and SME specialist Ceta Insurance grew turnover by 24.3% in the year to 30 September 2022.
Sicsic Advisory teams up with software experts for fair value product
Regulation consultancy Sicsic Advisory has teamed up with lifecycle management experts Skyjed to launch a new all-in-one product oversight and governance solution.
Brokers can no longer rely on insurer ‘pipeline’ to win war for talent
Brokers need to build their own pipeline of staff to win the war for talent because insurers are not going to do it for them anymore.
Brokers waiting on insurers and tech vendors to demonstrate value of AI and ChatGPT
Brokers are unlikely to actively embrace artificial intelligence and explore the potential of ChatGPT until insurers and technology vendors have demonstrated their value, and none need fear that they will replace them in giving advice.
Meet the MGA: Burns & Wilcox UK
Stuart Kilpatrick, managing director, Burns & Wilcox UK explains how creating an empowering environment and building long-term relationships with partners have been key to its success
FOS insurance complaints rise 19.9%
The Financial Ombudsman Service opened 39,730 new insurance cases in 2022/23.
CII opens 2023 New Generation Programme for applications
The Chartered Insurance Institute is looking for the leaders of tomorrow as it opens up its 2023 New Generation Programme with a deadline for applications of 7 August.
Insurtech Lumun pivots to becoming broker and MGA
Insurtech Lumun has pivoted to starting up as a broker and managing general agent specialising in non-standard motor.
FCA issues warning on UKGlobal Broking Group clone
The Financial Conduct Authority has warned that fraudsters have been trying to scam people using a clone of Howden-owned UKGlobal Broking Group.
A-Plan posts double digit revenue and profit growth for 2022
Personal lines specialist high street broker A-Plan grew turnover by 22% and pre-tax profit by 20% in the year to 30 September 2022.
Young brokers want face-to-face trading with underwriters – Liiba survey
Young brokers want face-to-face trading with underwriters, believing it to be a major competitive advantage for the London market, according to a survey taken by the London and International Insurance Brokers’ Association.
In Depth: How broker networks are embracing data and new technology
There have been a glut of recent data and technology solutions launched into the network space. Martin Friel explores how important these developments are when it comes to attracting new members.
Editor’s letter: Cash flow underwriting – stupidity over substance?
Having written about insurance for more than 25 years, I have learned that many things related to the sector are cyclical.
Stubben Edge launches capital arm
Stubben Edge Group has launched a capital arm that it claims will help brokers grow.
Buyers circle up-for-sale UK motor capacity provider Accredited
Accredited is in a sale process with a number of buyers interested in purchasing the business, owner R&Q has confirmed.
Brightstar launches insurance broker Solstar
The Brightstar Group, predominantly a mortgage intermediary business, has launched an insurance brokerage which offers advice direct to clients and a referral service for mortgage brokers.
The stats: Q1 2023: Onwards and upwards – commercial rates continue to rise
Insurance rates increased year-on-year by 4.5% in the first quarter of 2023 with property being the key driver according to research from Acturis. Rachel Gordon digs into the data.
