coronavirus
Seventeen Group expects further growth in 2022
CEO Paul Anscombe flags how M&A and organic growth are helping the business expand despite the £670,000 cost of Covid.
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.
Seventeen Group blames Covid and M&A costs for profit slip
Despite a sharp drop in pre-tax profit, the broker managed to achieve increased turnover for the year ended 31 December 2020.
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.
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…
Tysers launches fresh entertainment schemes
The two products, Tysers Freelancers and Tysers Elite, are designed to better reflect the new live events landscape and provide cover for clients who work in the entertainment industry.
Covid BI claims payments surpass £1bn
The latest set of figures from the FCA show providers have made initial payments worth £328.9m for unsettled claims and final settlements of £696.2m.
RAW Insurance on track for further expansion
After having opened an office in Kendal last month, co-founders Ryan Roberts and Stephen Ward tell Insurance Age about their plans for the future.
Who are the Top 50 brokers in personal lines?
The results of Insurance Age’s annual study into the top 50 brokers and providers in the personal lines market are in.
Lloyd's returns to profit in first half of 2021
Market reveals a profit of £1.4bn as well as an improved COR of 92.2% as gross written premiums also increase.
Peril in product governance – who you gonna call?
News analysis: Brokers are under the cosh and many need guidance on how to implement the FCA’s wide-reaching rules on product governance.
Interview: Cuvva's Andy Tomlinson
Cuvva COO Andy Tomlinson talks about the company's evolution, the rise of on-demand products and the broker's plans for the future.
Opinion: Can trust ever be re-won?
The confusion over business interruption during the pandemic has damaged the insurance industry. Branko Bjelobaba wonders if it can be undone
News analysis: What does the post-pandemic future hold for brokers?
Brokers split over whether they will see a return to growth while grappling with new attitudes to remote working, work-life balance and client confidence in the aftermath of Covid-19
Brokers "cautiously optimistic" about growth as pandemic restrictions lift
But Aviva research shows expectations vary, with 42% of regional brokers predicting a decline in their business.
Insurance premiums drop 16.9% for young van drivers
But data from Consumer Intelligence also shows that van drivers under 25 pay over 3.5 times more for their insurance compared to other demographics.
Jackson Lee launches business travel scheme
The MGA revealed that the new policy, which includes a Covid-19 cancellation feature, allows brokers to build flexible, customised travel cover for clients.
Covid BI claims payments near £1bn
FCA figures show interim payments of £331.2m and final settlements of £636.7m have been made since the Supreme Court verdict, with the number of policyholders waiting to hear whether their claim is valid going down to 6,073.
Admiral profit soars by 76% in first half of 2021
COR improved to 75.2%, while its lockdown rebate cost the provider £21.1m during the six-month period.
Agreement to speed up claims in pandemic expires
The ABI and ASCO have agreed to set aside the statement of intent develop to speed up claims resolution in the wake of the pandemic.
Allianz Holdings reveals drop in GWP in first half of 2021
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%.
Government finally delivers £750m event insurance scheme
The industry was forced to cancel a raft of events including Glastonbury Festival, Boomtown and Womad after insurers backed away and the government dragged its feet on delivering alternative cover.
Hastings profit hits £76m
Provider says it has seen premium reductions in motor due to Covid restrictions as GWP slips slightly to £481m.
Hiscox returns to profit in H1 2021
Provider also records rise in GWP and an improved COR of 93.1%.