News
Qudos replacement policies reignite unrated debate
Some alternative cover for Qudos’ motor, motor add-on and pet insurance policyholders is being offered through two unrated insurers.
RSA boss Egan "not defensive" about broker criticism
New UK and International CEO reiterates commitment to the broker channel after brokers say provider is difficult to trade with.
Hiscox report shows cyber attacks are on the up
Attacks increase on businesses with SMEs a target but more firms are now willing to consider cyber cover.
Slow take-up of standardised Toba template was expected, says Biba
CEO Steve White hopes for a domino effect as networks, including Una Alliance, consider adopting the template.
FCA re-examines duty of care as report warns customers at risk of harm
The regulator published a feedback statement which revealed most respondents believe there needs to be change to better protect financial services customers.
FCA data reveals fall in complaints in second half of 2018
Regulator says total amount of complaints about financial services reached 3.91m, with PPI making up 40%.
UKBA: Wilby says cyber win encourages new business
Award enabled winner to discuss cyber more.
Brexit and customer fairness dominate FCA 2019/20 plans
The regulator’s Business Plan revealed a focus on “fair treatment for existing customers” amid dual pricing investigation and warned orderly transition post-Brexit is an “immediate priority”.
Experts urge brokers to look over remuneration after FCA warning on GI distribution failings
Compliance specialists say brokers need to look at the distribution chain and make sure they act in the best interest of the customer.
FCA proposes £537.7m fee budget for 2019/20
The figure is a 2% increase on last year’s with £29m to come from general insurance mediation.
Wonga's Tara Waite (formerly Kneafsey) returns to insurance with Ageas role
Waite was previously at RSA and most recently CEO of Wonga. She is joined on the Ageas boards by Jeremy Hayes.
InsurTech Futures: Inzura launches dash cam solution
Start-up is backed by former LV boss Phil Bunker and Autoline founder Michael Blaney.
#Insagepeople: 15-18 April 2019
Stay up to date with the latest people moves.
PIB seeking to raise £100m - £200m to fund growth
Firm looking for further investment but has no plans to stop working with Carlyle Group.
Arch buys Obelisk Underwriting
The business is to become part of the Arch UK Regional Division and follows its deal to buy Axiom Underwriting earlier this month.
Biba selects Magenta for Escape of Water scheme
The scheme offers Waterlock technology and is supported by an app.
Willis Towers Watson/Confused index shows car insurance premiums fall
It is the first slip after two consecutive quarters of rising premium but experts warn that there will be increases again in future.
FSCS further extends CRL's Alpha deadline
FSCS "hopeful" 30 April deadline could lead to a deal being agreed as CRL continues to look for replacement cover following unrated insurer Alpha's bankruptcy last year.
FCA warns brokers to be ready for SM&CR
The regulator urged brokers to prepare early for the regime which comes into force on 9 December this year.
ERS sale dead as investor decides to stick with the motor insurer
Private equity owner Aquiline has completed a strategic review of the business.
Podcast: The top five news stories of the week
Which articles were brokers most interested in for the week commencing 8 April 2019?
InsurTech Futures: Guidewire's Laura Drabik discusses the impact of InsurTech on brokers
The vice president of business innovation at software platform, Guidewire, outlined key InsurTech trends and explained how brokers can use technology to get ahead.
Construction and engineering facing “capacity blackspots”
Mactavish report claims that insurance companies are reluctant to underwrite the risks in some sectors as market faces “unprecedented” tightening.
CRL responds to FSCS Alpha deadline extension
CEO Steve Mansour says the broker has been working with the FSCS for some months in order to help transfer policies affected by Alpha’s bankruptcy last year.