Insurer
Ecclesiastical flags second home crimes hitting HNW sector
One in five (22%) crimes experienced by high-net-worth clients happened at their second home or holiday home during the past 12 months, according to research by Ecclesiastical as it released new guidance to help brokers speak to clients about how to best…
FCA posts improved SMCR approval times but AR permissions still lagging
The Financial Conduct Authority has revealed the average days taken in 2022-23 to process five key authorisations that affect brokers were within its target timeframes, but there is further to go to hit the statutory requirement for 100% of cases.
Government planning to limit non-compete clauses to three months
The government has issued a policy paper setting out plans to bring in legislation limiting non-compete clauses in employment contracts to three months.
Zurich partners with brokers on digital risk management system
Zurich UK has launched a digital risk management system to give firms real-time visibility of the risks they face, Insurance Age can reveal.
People Moves: 15 – 19 May 2023
Keep up-to-date with the latest insurance personnel moves.
Brokers raise concerns about FCA’s regulatory and compliance burden
In roundtables hosted by Zurich and the APPG for Insurance and Financial Services, brokers flagged their concerns about the regulatory and compliance burden created by the Financial Conduct Authority and claimed it is affecting the financial resilience…
Funds transfer fraud replaces ransomware as leading cyber claims type, says Coalition
Ransomware claims frequency dropped 54% between 2021 and 2022, according to a report by cyber specialist insurer Coalition.
Bspoke Group strikes first acquisition after rebrand
Bspoke Group has bought Miramar Underwriting in its first deal since rebranding from UK General last month, Insurance Age can reveal.
Home insurance premiums tick up by less than inflation at 6%
The average price paid for a combined buildings and contents home insurance policy in the first quarter of 2023 was £315, according to the Association of British Insurers.
Industry must work together to tackle recruitment challenges - Davies Group
Director of Davies Learning Solutions at Davies Group, Carolyn Blunt, has urged the insurance industry to come together to help tackle recruitment challenges.
Middle hails organic growth at Ageas in long-term broker personal lines strategy
“We are growing organically in the continuing personal lines business. The go forward business,” Ant Middle, Ageas UK CEO has told Insurance Age.
FCA survey data tracks 13% of consumers cut back on insurance due to cost-of-living crisis
More than six million people cut or cancelled insurance cover in the six months to January 2023 to save money in the cost-of-living crisis, the Financial Conduct Authority has calculated.
Only 27% of brokers implementing Net Zero plans
Research by Aviva has revealed that only 27% of brokers are actively implementing Net Zero plans. However, the figure has risen from 17% in 2022.
Allianz seeks to move closer to brokers with new financial lines team in three regional hubs
Allianz Commercial has formed a financial lines team focusing solely on directors & officers cover and professional indemnity propositions.
Aviva boss David Martin on empowering branches for brokers and delivering growth
Aviva delivered 200 authority and licence changes for underwriters dealing with brokers in just the first quarter of 2023, as it pushed ahead on empowering branches, managing director of UKGI distribution & SME David Martin has told Insurance Age.
Konsileo appoints 100th broker
Fast-growing commercial brokerage Konsileo has appointed its 100th broker as its run rate gross written premium tops £40m.
RSA survey pinpoints broker challenge of clients amending or cancelling insurance in light of economic uncertainty
More than three quarters of brokers have seen clients change policies in the past six months as they prepare for further economic uncertainty, according to research by RSA.
RSA looks to add 200 more brokers in a year
RSA has set a target of adding 200 more brokers to its portfolio within the next 12 months according to sales and distribution director, Alex Hardy.
Time to “bust that lack of talent myth”, says Idex Consulting CEO
The CEO of Idex Consulting, Matt Green, has stressed that there is no lack of talent in the insurance industry, and that recruitment challenges often lie with employers.
Chubb Climate+ rolls out renewable energy projects product
Chubb Climate+ has launched a packaged insurance solution in the UK that is designed to support the growth of alternative and renewable energy projects; mainly onshore wind and ground-mounted photovoltaic solar.
MGAA to survey members on two-year plan as trade body reaches 200 milestone
The Managing General Agents’ Association will be opening a survey for members next week to help create the next two-year strategic plan for the trade body, CEO Mike Keating has confirmed.
People Moves: 9 - 12 May 2023
Stay in the loop with insurance personnel moves.
National Cyber Security Centre urges businesses not to pay ransomware demands
The CEO of the National Cyber Security Centre, Lindy Cameron, has urged businesses not to pay cyber criminals’ ransom and to instead set up reliable defence systems.
Axa targets new broker employees with passport training solution
Axa Commercial is poised to launch a new programme aimed at new starters within broking firms.