Claims
Property pricing up 9% in Q1
Insurance pricing in the UK increased by 20% in the first quarter of the year but this was down on the 22% rise in Q4 2021, according to the latest research by Marsh.
Mason Owen Financial Services completes MBO from parent company
Commercial property agency Mason Owen & Partners has sold its majority shareholding in broking arm Mason Owen Financial Services and its subsidiary companies to the current management team led by managing director Andrew Gibbons.
Taking the temperature of the electric vehicle market
With the Financial Conduct Authority’s price walking ban coming into force and customers transitioning from internal combustion engines to electric and hybrid vehicles, the motor insurance industry is currently in a state of flux. Eleanore Robinson…
Analysis: The inflation challenge
The ever-increasing rate of inflation in the UK and certainty of more to come has led to warnings of challenges for brokers and insurers alike with issues ranging from difficult conversations on premium rises to underinsurance and the prospect of turning…
Lloyd’s picks 11 for latest lab cohort
The insurtechs have been selected based on solutions geared towards four key themes: decarbonisation and climate change; supply chains; data and models; and claims.
FOS insurance backlog stretched to over 9000 cases
Across financial services the ombudsman had nearly 5000 cases open for more than two years.
Blog: The opportunity in M&A insurance
There has been no shortage of mergers and acquisitions stories over the past 12 months and not just in the broking sector. Despite all the deal headlines M&A insurance has had little airtime so CFC’s Joe Perrett runs the rule over the opportunities for…
Lloyd’s posts underwriting and pre-tax profit for 2021
The marketplace swung back to £2.3bn profit after a loss of £900m in 2020.
Final FCA monthly Covid BI claims update puts payout at £1.35bn
Insurers have made £1.05bn in final payments and £303.1m in interim payments.
Blog: Reducing the personal guarantee risk of solicitors’ PI
Todd Davison, managing director of Purbeck Personal Guarantee Insurance, assesses a particular challenge facing brokers and the solution available as the solicitors professional indemnity insurance renewal season fast approaches.
Government sets 28 March deadline for Russian aviation insurance ban
The UK government revealed the insurance sanctions on 3 March in response to the invasion of Ukraine by Russia.
NIG posts policy count and GWP rise for 2021
Owner DLG reported gross written premiums of £3.17bn with profit after tax of £343.7m.
FCA cap on CMC fees comes into force
Regulator claims consumers are expected save £9.6m a year.
Modellers put Storms Dudley and Eunice losses at up to £4.1bn (€5bn)
RMS estimates top figure of £3.7bn (€4.5bn) with the UK accounting for around 15% of the total.
Brokers praise insurer response to storms claims
Storms Dudley, Eunice, and Franklin could cost UK insurers more than £400m in claims, according to Moodys.
Ageas investing in digital to win with brokers, says Middle
The provider has teamed up with EIS, Amazon Web Services and Willis Towers Watson on a range of initiatives.
Allianz focused on growth in 2022, says Holmes
Insurer posted a 9.4% rise in operating profit to £318m for 2021 but recorded a 3.2% fall in gross written premium to £3.8bn.
Allianz posts improved operating profit for 2021 but GWP slips
The provider reported a 3.2% decrease in GWP to £3.8bn.
Insurer payments for settled BI claims top £1bn
Providers have also made £307.9m in initial payments, according to the latest figures from the Financial Conduct Authority which is set to end its data releases next month.
FSCS confirms broker as failed
The compensation body has updated on the status of former broking firm Perry Prowse and released details of 12 companies that have gone out of business.
Zurich UK reports £470m operating profit
The provider reported that the UK business grew 13% in its P&C division.
Covid BI claims payments now at £1.3bn
FCA data shows providers have now made initial payments worth £329.4m and final settlements of £967.9m.
Blog: We’re at a turning point for insurance payments?
Paysafe’s Justin Fraser considers payment habits for insurance customers.
Blog: Why 'community' is the word of 2021
Allianz's Simon McGinn on business interruption, broker relationships and sustainability.