News analysis: Brokers are under the cosh and many need guidance on how to implement the FCA’s wide-reaching rules on product governance.
The latest job moves in the world of insurance and broking.
Provider points to continued impact from Covid-19 as well as competitive market conditions and the run-off of certain portfolios as it also reports a COR of 91.7%.
Brokers say senior exits at the provider lead to “some concern but also some opportunity” as the insurer is slammed for focusing on larger corporate consolidator relationships in recent months.
Provider says split into distinct personal and commercial businesses will not result in any redundancies.
The move sees Steve Treloar become CEO, Allianz Personal and Simon McGinn become CEO, Allianz Commercial, as the provider announces a number of senior exits including Sarah Mallaby, Neil Clutterbuck and Chris Little.
Insurance Age talks to the LV fraud team about the emerging fraud trends brokers need to be aware of.
News of the management shake-up left brokers shocked and surprised, but experts say Holmes will be good for Allianz while they remain confident that Aviva boss Amanda Blanc will keep the ship steady despite recent exits.
Dye, who exits in November, is to be succeeded by Aviva's Colm Holmes.
Signatories, which include Aviva, Ageas, Allianz, Covea, Ecclesiastical, LV, and Zurich, commit to opening up the majority of their roles to flexible working, job sharing and part-time working.
CEO Steve Treloar explains the consultation process is now complete after the provider last year put up to 600 roles from across LV and L&G at risk as part of a restructure.
Provider says total impact of Covid-19 BI claims in 2020 was £175m and details it has to date paid 78% of valid SME claims.
LV’s broker business has signed a five year deal with the provider.
The former UK and group CEO for Axa will oversee Allianz Insurance and LV General Insurance.
However commercial business sees GWP decline in H1 2020 numbers as provider predicts £80m Covid-19 BI hit.
LV General Insurance has revealed “worst case scenario” of up to 600 job cuts as it restructures and integrates L&G.
The cull follows the acquisition of Legal & General as the personal lines insurer seeks to integrate the businesses and streamline its claims function.
In the 23rd episode of Post and Insurance Age’s video series we gathered together a trio of start-ups featured in the Insurtech 100, all of which are focused on the distribution of products through the business-to-business-to-consumer channel.
There is evidence that people are looking to ride share or borrow a vehicle more to avoid public transport in light of Covid-19. However, Tempcover's Alan Inskip expects there to be deep-rooted changes in attitudes towards vehicle usage post-lockdown…
The provider published a Q1 trading update, the first to incorporate Allianz, LV and Legal & General, as it says it has made 200-plus Covid-19 claims pay outs.
The proportional refunds for customers in distress follows Admiral's flat £25 payment but broker customers are not included in the £30m LV has set aside for rebates.
Updated: Major insurers including Axa, Aviva, Ageas, LV and Zurich respond on automatic rebates as motor disrupters say the Admiral £25 move does not go far enough and questions are raised about the gesture.
The ABI and the Association of Consumer Support Organisations have developed a statement of intent recommending remote video examination and rehabilitation.
Insurance Age finds out how Michael Lawrence, broker distribution and underwriting director at LV, has adapted to changes in working practices amid the Covid-19 outbreak.