hard market
The stats: Q3 hit by rocketing property owners and fleet rates
The latest figures from Acturis show that commercial insurance premiums continue to rise, resulting in an increasingly challenging environment for brokers and their clients, reports Rachel Gordon.
Allianz fleet head: hard market not going away soon
Property owners’ cover is the largest mover in this quarter’s Acturis Commercial Broking Index, which shows rates are up by 11.3% over the previous 2022 quarter.
Markerstudy prioritising certain business lines but denies capacity squeeze
Markerstudy has admitted prioritising certain business lines over others in the present hard market, as it denied experiencing a “capacity squeeze”.
Blog: Market challenges make it the ideal time for brokers to digitise
Far from being a risk, digitisation is the best protection brokers can invest in to reduce the impact of market uncertainty. And Risto Rossar, CEO and founder of Insly, argues the timing could not be better given ongoing challenges from recruitment to…
TL Dallas posts double digit turnover and profit growth for 2022
TL Dallas Group grew turnover by 16% to £11.39m in 2022, with pre-tax profit soaring 31% to £1.33m.
Allianz commits to investing in local structure to support brokers
“The strength of the Allianz commercial business in the UK is without doubt our local, regional capability in those markets and the ability to deliver,” Allianz Holdings CEO Colm Holmes told Insurance Age.
Editor’s letter: Cash flow underwriting – stupidity over substance?
Having written about insurance for more than 25 years, I have learned that many things related to the sector are cyclical.
The stats: Q1 2023: Onwards and upwards – commercial rates continue to rise
Insurance rates increased year-on-year by 4.5% in the first quarter of 2023 with property being the key driver according to research from Acturis. Rachel Gordon digs into the data.
Soaring property owners’ premiums hit record high
Property owners’ premiums rose by 9.3%, according to recent figures for the first quarter of 2023 from Acturis, which will be published by Insurance Age on Monday 12 June.
Meet the MGA: Loadsure
After two decades in the London market Johnny McCord decided the time was right to set up his own business. The Loadsure CEO and founder explains how a light bulb moment led him reinventing cargo insurance as a ‘true’ insurtech.
FCA boss Brewis to address Consumer Duty concerns at Insurance Age event
Matthew Brewis, director of insurance at the Financial Conduct Authority, has been confirmed as the keynote speaker for the first Insurance Age Broker Breakfast event in Leeds next month.
The stats: The only way is up - Q4’s commercial premiums continue to rise
Businesses are yet again facing more costly cover with the Acturis Commercial Broking Index revealing increases across the board, reports Rachel Gordon.
Opinion: How long have directly authorised independent brokers got left?
Lea Cheesbrough, managing director of Movo Partnership argues the appointed representative model is becoming the preferred choice for start-up brokers and increasingly popular among directly authorised firms looking to switch.
Brokers upbeat on growth but underinsurance concerns persist – Aviva research
Brokers are markedly more optimistic on growth, with 76% expecting their business to expand in 2023, up from 43% that had a positive outlook in 2022, according to Aviva.
Meet the MGA: Fusion Specialty UK
As Fusion Specialty UK begins trading, managing partner Josh Cowen and partner Sam Shirley discuss why technology is key to their plans for the SME-focused mergers and acquisitions MGA.
News analysis: The 1/1 reinsurance renewals – What will 2023’s ‘challenging’ reinsurance market mean for UK brokers?
The annual 1/1 reinsurance renewal season might not have been on the list of major concerns of the average UK broker at the start of 2023. But as Rachel Gordon reports it could have a sting in the tail this year when it comes to capacity shrinkage and…
Video Q&A: NMU’s Guy Smith on being voted best commercial insurer by brokers
In this video, head of marine and specialty at NMU Guy Smith speaks to Insurance Age content director Jonathan Swift about its success in the annual Insurance Age Broker Satisfaction Survey.
EY: UK motor and home insurers to report largest losses in a decade
According to a report by EY, UK motor and home insurers are expected to make the biggest annual loss in over a decade this year, with further losses forecast for 2023.
Meet the MGA: Spring Insure
Spring co-founder and CEO Nathan Sewell explains why capacity alignment is key for his MGA and his fondness for ‘grafters’
Stark drop on most schemes at renewal and for commission earnings
Data provided by SchemeServe has revealed a considerable drop across the board on most schemes with the biggest falls being in cyber.
News analysis: Agriculture – how can brokers help the sector face up to risks, old and new?
Whether it is inflation, weather, rural criminals or staff shortages, the agricultural market has certainly borne the brunt when it comes to feeling the force of social and climate change. Martin Friel investigates how the insurance sector is helping…
News analysis: Post FCA Covid-19 test case how are brokers finding the BI market?
Business interruption was put in the spotlight during Covid-19, as insurers insisted that the pandemic was not covered in policies, Insurance Age looks at how BI has changed since then.
FCA warns insurers to support customers’ wellbeing during cost of living crisis
The Financial Conduct Authority has expressed concerns, in a new 'Dear CEO' letter, that customers may cut-back on the insurance they need as pressure mounts on household budgets.
Blog: Partnership builds the resilience brokers need to navigate a challenging world
A recent Close Brothers Premium Finance survey highlighted a host of new issues brokers are facing that did not exist two years ago. To improve resilience in the face of these challenges Seán Kemple, managing director of premium finance, argues…