Motor
FCA cracking down on home and motor insurers
The Financial Conduct Authority has warned insurers about the support provided to struggling customers.
FCA orders DLG to compensate any customers short-changed on total loss motor claims
The Financial Conduct Authority has ordered Direct Line Group to compensate any customers who have been short-changed on settlements for their written-off vehicles.
New insurtech aims to ‘revolutionise’ non-standard motor broking
A new insurtech named Kwoter aims to ‘revolutionise’ insurance broking in non-standard risks.
MGAA names Signature Underwriting as 200th member
The Managing General Agents’ Association has named niche motor hire specialist Signature Underwriting as its 200th MGA member.
EY pegs UK motor NCR at decade worst 109.5%
The UK motor insurance market experienced its worst performing year in a decade in 2022, with further losses expected this year, according to EY’s latest UK Motor Insurance Results report.
JMG strengthens in southern England with further Southampton buy
JMG Group has bought commercial insurance broker GR Marshall, its second deal in Southampton this year.
Saga reveals fall in broking policy sales
Over-50s specialist Saga has reported a 7% drop in home and motor insurance policy sales in its broking division despite customer retention ticking up from 83% to 85%.
Academy Insurance updates on sale after deal fell through
Personal lines specialist Academy Insurance Services’ shareholders are going through due diligence in a sale process, according to a filing at Companies House.
FOS insurance complaints rise 19.9%
The Financial Ombudsman Service opened 39,730 new insurance cases in 2022/23.
Insurtech Lumun pivots to becoming broker and MGA
Insurtech Lumun has pivoted to starting up as a broker and managing general agent specialising in non-standard motor.
A-Plan posts double digit revenue and profit growth for 2022
Personal lines specialist high street broker A-Plan grew turnover by 22% and pre-tax profit by 20% in the year to 30 September 2022.
Buyers circle up-for-sale UK motor capacity provider Accredited
Accredited is in a sale process with a number of buyers interested in purchasing the business, owner R&Q has confirmed.
Oxbow Partners forecasts motor market COR of 106.1% in 2023 and 100% in 2024
Oxbow Partners has predicted a combined operating ratio for the UK personal lines motor market of 106.1% in 2023, improving to a break even point of 100% in 2024.
Interview: Clare Lebecq, SRG
Clare Lebecq has worked hard to get to the top. She tells Insurance Age her story and goals with Specialist Risk Group, and shares her views on diversity and inclusion and work culture.
Kingfisher buys Reis Motorsport Insurance from Markerstudy
Kingfisher Insurance has bought specialist broker Reis Motorsport Insurance from Markerstudy for an undisclosed sum, adding over 20 people and an office in Nottingham.
ERS and Acturis team up on full-cycle API car product for brokers
Acturis and specialist motor insurer ERS have launched an API based car insurance product for brokers on the software provider’s platform which replaces legacy EDI messaging.
Markerstudy maintains motor capacity amid Italian insurer cutbacks
Markerstudy-owned Clegg Gifford has maintained its capacity with insurer Unipol, although uncertainty remains about the Italian provider’s commitment to the UK market.
Howden taps into Ingenie for UK telematics roll out
International broker Howden has announced the UK launch of Howden Drive, its telematics app and data beacon, which aims to help reduce premiums for policyholders, optimise loss ratios for brokers and insurers, and improve road safety.
Insurtech ILS specialist eyes capacity entrance into UK motor broking
Insurance-linked securities specialist Ledger is eyeing an entrance into UK motor, backing managing general agents.
Blog: How email addresses can help the crackdown on ghost broking
Brokers have an important weapon in the fight against application fraud – the humble email address – as LexisNexis Risk Solutions director Louise Johnson explains.
Ex-BGL boss Matthew Donaldson joins Prima as chair
The former CEO of BGL Group, Matthew Donaldson, has joined motor insurance specialist Prima Group as chairman.
Allianz personal lines boss Treloar steps down
Allianz managing director Steve Treloar is to step down, saying now is the right time to ‘pass on the baton’.
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.