Transport Hub
Welcome to Insurance Age’s Transport Hub. This page hosts all of our transport product news and insight to help the market keep abreast of latest developments and to boost their business development strategies.
Product Hub: Transport
Welcome to Insurance Age’s Transport Product Hub. This page hosts all of our transport product news and insight to help the market keep abreast of latest developments and to boost their business development strategies.
Product overview: Transport
A long-standing tradition of trading goods means that marine insurance is one of the oldest forms of insurance, with historians able to trace cover right back to the Phoenician traders in around 1000 BC. Methods of transporting goods have changed significantly since those early days on the sea, but it remains a valuable but challenging market.
Find out moreBroker satisfaction survey
In 2021 Insurance Age undertook its largest ever survey of UK brokers in order to assess the quality of insurer service across the market. The Broker Satisfaction Survey covers 11 business lines in total and accessed more than 7,000 data points, making it one of the biggest surveys in the broker community.
The full results can be found here
To share your thoughts on who the best insurers are in Transport click the button below.
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Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Motor premiums stabilise as telematics grows
Data from Consumer Intelligence reveals that 1 in 4 cheapest motor insurance quotes are provided by telematics firms, and while motor premiums plunged 9.4% in the last 12 months, prices are now beginning to stabilise.
iRevolution buys BG Insurance
CEO Mark Rigby has said the acquisition of BG Insurance would give the business further expertise in other areas of the non-standard motor market.
Motor premiums continue to fall in Q3
Premiums are the cheapest they have been since mid-2015, but the rate at which prices are falling has slowed in the last three months, according to Confused/Willis Towers Watson.
Radius Insurance Solutions buys Milestone
Radius already owns Burley Group and has added the broker/underwriter to its book.
Fraudulent claim value goes up but detection rates also increase
ABI data shows the average fraudulent insurance claim has now reached £12,000 as the the body praises the efforts made by insurers’ fraud investigation teams throughout the pandemic.
Complete Cover Group’s profits dip amid transformation
Profits slip but income is steady and operating profit almost doubles as report flags the business’s £50m Abacai launch and acquisition of broker Dayinsure.
In-depth – Niche markets: Getting to grips with the gig economy
The gig economy is growing fast and extends far beyond delivery and taxi services, which are often seen as the mainstays of this sector. Edward Murray investigates how the insurance industry is responding to new ways of working and what the opportunities…
ERS extends cover for European HGV drivers
The specialist motor provider says the move aims to support European HGV drivers coming to the UK to help fill the current HGV driver shortage and that brokers will be able to access the widened cover for their clients via ERS eTrade.
News analysis: Panic Buying 2: This time it’s petrol…
The news agenda has been dominated by images of snakes of cars leading to petrol stations as the great British public reprises its performance from the first lockdown where we saw loo roll, pasta and other essentials stockpiled. In our analysis Martin…
MCE launches bespoke AI tool
According to the broker, the company saw 32% growth in average premium due to its investment in tech, which has now been enhanced with the roll out of a new AI tool.
Geo adds Arnott Marine book to portfolio
The transfer sees Steve Gordon join Geo Underwriting as product head while the Ardonagh-owned entity expands its marine proposition.
ERS gains approval for expansion into new business lines
The provider's Syndicate 1856 is moving into business classes including D&F property, marine and energy liability, political risk, terror and war, cargo and specie and professional lines, following $350m capital injection.
Third deal in a week for Seventeen Group as it snaps up Cornwall-based broker
Latest move sees specialist marine broker Christopher Rowe join Seventeen Group's stable and follows its purchases of Ryan's and Pinner Risk Solutions.
Ardonagh Specialty reveals capacity deal with Beazley
Business says cross class follow capacity solution will benefit Price Forbes clients across cargo, specie, terrorism, financial products, healthcare and marine.
Biba appoints MercariRisk as marine insurance scheme provider
Trade body says the scheme is underwritten by A+ rated capacity and will help brokers access cover for a range of marine risks including cargo, freight liability, hull and liability cover for commercial vessels, commercial maritime operations, super…
Howden buys superyacht broker STA Group
The business will become part of Howden and rebrand as Howden Sturge.
Apollo replaces head of marine and energy liability
Rob Johnston replaces Howard Burnell who was convicted of assault last week.
Arch unveils UK regional marine hull and machinery product
Offering was designed exclusively for fleets and single vessels operating throughout inland and coastal waters of the UK and Western Europe.
Geo Underwriting expands into marine and leisure with deal
Ardonagh's MGA arm buys £8.5m GWP book of business from KGM.
Stoneways Marine unveils yacht and motorboat product
The new offering is available to brokers and Stoneways stated that the policy includes covers such as non-medical repatriation and mental health support for those onboard.
