Insurer
Beazley’s COR worsens to 100% in H1 2019
But provider also reveals 189% pre-tax profit jump as new head of broker relations, Lou Ann Layton, states there is “lots of room for growth in the brokerage community”.
XL Catlin v Orbit Underwriting court case settled
Case against wholesale broker, which is in administration, related to the misuse of funds.
FCA pledges tough action for vulnerable customers amid consultation launch
Insurance Cares: Watchdog says it will implement measures to ensure consumers are treated fairly.
Axa XL partly pulls out of leisure
Insurer to stop working with UK-based coverholder LeisureInsure from 1 August in a move which hits the Irish market.
Ecclesiastical launches risk management modules
The guidance modules will educate brokers on issues facing heritage properties.
MOJ defends discount rate decision
The government hits back at criticism from the ABI pointing out a rate of between 0-1% was never guaranteed.
The Insurance Age Podcast: 19 July 2019
The Insurance Age editorial team dig into this week's top stories.
NED salaries in the insurance sector revealed
Research shows brokers pay their non-executive directors 18% less than insurers do.
FSCS agrees Alpha replacement cover deal
Collapsed Danish insurer's latent defect policyholders will now be covered by a new, solvent insurer.
Brokers must transform to evade threat of AI - report
Publication suggests that brokers who rely on their paperwork skills or only act as a go-between the client and underwriter will be challenged by AI solutions.
ABI bites back on discount rate
UPDATED: The association said the impact assessment is “misleading and disingenuous” in a letter to Lord Chancellor, David Gauke, following the announcement it would be set at -0.25%.
Quizzical questions: 19 July 2019
Test your knowledge of the week's news with our topical quiz.
Mactavish criticises industry for "knee-jerk reaction" in hardening market
Technical director Rob Smart warns of capacity issues in construction and urges brokers to get started early to avoid leaving companies without insurance.
FCA reiterates dual pricing concerns
CII urges insurers to act now as FCA says findings from GI market study into dual pricing will be published later this year.
Construction firm unable to find insurance due to lack of capacity
Howden says current situation has put "incredible pressure" on the only compliant scheme available to customers.
Victor reaches out to brokers following CEO change
The managing general underwriter, previously Bluefin Underwriting, is looking to develop more products and expand into new lines of business.
Biba warns of scammers targeting brokers
Fraudsters are claiming to sell attendee data from the Biba conference, but trade body confirms it has not had a data breach.
Fact file: What’s the story with the Ogden Rate?
The much-debated discount rate was reset at -0.25% this week, but how did we get to this point and what is the background to this highly explosive issue? Insurance Age outlines the key touchstones
Hedge fund takes stake in Saga
Elliot has invested in the insurance and travel provider.
CII and the University of the West of England launch post grad qualification
Course completion will shorten the journey for the CII’s qualifications, such as ACII.
Blog: What is JCT 21.2.1 insurance, and who needs it?
Tokio Marine HCC’s Julian Goodall considers the snappily-named clause developed to iron out liability issues in construction.
Victor, formerly Bluefin Underwriting, appoints John Stephenson as UK boss
Current incumbent, Paul Drake, is set to retire from his role at Marsh-subsidiary, Victor Insurance UK.
Hastings expects £8.4m hit from Ogden rate change
Company says it had believed the rate would end up between 0 and 1%, as Biba states move to -0.25% is "nowhere near enough".
Documents reveal government actuary recommended a 0.25% discount rate
The Lord Chancellor and Justice Secretary, David Gauke, eventually settled on a minus 0.25% Ogden rate.