Insurer
People Moves: 10-14 October 2022
Keep up to date on the latest personnel changes in insurance.
FCA contemplated commission level ban in flats insurance review
The Financial Conduct Authority “considered a number of options” as it worked on the multi-occupancy buildings insurance review and “one of them would include whether we should go forward and try to think about potential price caps or bans”, Sheldon…
Zurich to open offices in Bristol and Southampton
Zurich is set to open an office in Bristol this year and aims to open in Southampton next year, Insurance Age can reveal.
Insurance set for boom in machine learning, Bank of England survey finds
Insurance is growing its adoption of machine learning applications faster than any other financial sector, a Bank of England survey has found.
Pen Underwriting Limited revenues in UK rise as it targets £1bn GWP
Pen Underwriting Limited’s turnover in the UK rose by 1% in 2021 as it remained on course for its £1bn gross written premium target, according to year-end accounts filed at Companies House.
MS Amlin Underwriting names Andrew Carrier as CEO
MS Amlin Underwriting has appointed Andrew Carrier as CEO, he is currently chief underwriting officer and will take up the role on 1 January 2023, subject to regulatory approval.
Blog: What next for ex-Zurich retail boss Martin?
As revealed by Insurance Age, Zurich head of retail Dave Martin has flown the nest. With the next home yet to be announced Emmanuel Kenning looks at where he might land
FCA continues to flounder on approved person authorisation targets
The Financial Conduct Authority is falling short on targets in speedily giving individuals approved person status to carry out work and has posted a worsening performance on approving changes of control requests for firms.
RSA survey reveals underinsurance concern among brokers
Research which was conducted by Censuswide among 207 brokers on behalf of RSA last month, has revealed that 93% of brokers believe underinsurance poses a major threat to UK businesses during economic unrest.
Lloyd’s finishes cyber threat investigation and starts restoring online systems
Lloyd’s has found “no evidence” its systems were compromised following an investigation into a cyber threat.
Market Moves – October 2022
The latest recruitment news from around the industry.
Products: October 2022
Product launches including cover for electric vehicles, carbon credit insurance, the media and entertainment sector and private clients.
Headline Makers: October 2022
The key stories from the past month all in one place.
Lloyd’s cyber probe ‘advanced’ but online systems remain in shutdown
Lloyd’s external connectivity remains in shutdown as it continues to investigate the cyber threat that emerged last week.
Beazley teams up with fintech provider to expand broker schemes
Beazley plans to expand its schemes business with brokers using a fintech platform.
Focus joins forces with NIG to launch contractors liability facility
Specialist construction managing general agent Focus has teamed up with NIG to launch a contractors liability facility designed especially for smaller contractors.
People Moves: 3-7 October 2022
Follow the latest personnel changes in the insurance industry.
News analysis: Post FCA Covid-19 test case how are brokers finding the BI market?
Business interruption was put in the spotlight during Covid-19, as insurers insisted that the pandemic was not covered in policies, Insurance Age looks at how BI has changed since then.
Lloyd’s cuts off online delegated authority platforms amid cyber threat
Lloyd’s took swift action yesterday to safeguard its online security by resetting its systems and switching off all external connectivity after discovering “unusual activity” on its network.
HDI streamlines specialty lines single risk underwriting
HDI Global Specialty UK has introduced a new structure in underwriting with six divisions or ‘pillars’ within its single risk business.
FCA data shows 19% of BI insurance claimants still waiting for full payment
Figures from the Financial Conduct Authority have confirmed that 34,506 business interruption insurance claimants have received their full payment out of 42,586 accepted by insurers.
Former vice presidents vow to monitor CII after motion not debated at AGM
A move to bring an independent probe into ongoings at the Chartered Insurance Institute has fallen short at the first hurdle.
CII elects Swiss Re’s Russell Higginbotham as president
Russell Higginbotham, CEO of Swiss Re Solutions, has been elected president of the Chartered Insurance Institute for 2023 moving up from deputy president and succeeding Peter Blanc.
FOI reveals FCA insurance investigations running into thousands of days for firms and individuals
The Financial Conduct Authority closed five investigations into firms and individuals in its insurance portfolio in 2021 with each lasting over 1000 days, a Freedom of Information request by Insurance Age has revealed.