Motor
Alps partners with AmTrust on motor book
Add-on insurance provider Alps has moved its entire motor book, under a full delegated authority agreement, to AmTrust International.
Halo founder launches insurtech Gigasure
Ernesto Suarez has launched insurtech managing general agent Gigasure offering travel, backpackers, and car hire excess insurance.
ABI measures 2% drop in motor premiums in Q2
The average motor insurance premium fell by 2% in April to June compared to the first quarter of 2024, according to the latest data from the Association of British Insurers.
Markerstudy to buy Northern Ireland broker Hughes Insurance
Markerstudy Group has confirmed plans to buy Hughes Insurance, just a month after completing its deal with Atlanta.
Allianz updates motor trade product
Allianz has refreshed its motor trade product with the aim of reflecting the evolving needs of its customers and the technological changes that are affecting the sector.
Cyber outage insured losses estimated at up to $1.5bn
CyberCube has estimated preliminary global insured losses for the standalone cyber insurance market from the CrowdStrike IT outage last week at between $400m (£310m) and $1.5bn (£1.16bn).
Ghost broker sentenced for £17,000 Instagram insurance scam
Wahidullah Usmani, 22, of Prayle Grove, Cricklewood, has been sentenced to 24 months’ imprisonment, suspended for 24 months, for making £17,618 by selling invalid car insurance policies on Instagram.
Which? finds 48% of people making claims experience at least one problem
Which? has called on the Financial Conduct Authority to take tough action against firms over claims handling failures, arguing consumers are suffering from “significant harm”.
UK pricing continues down – Marsh
Insurance rates in the UK fell 3% in the second quarter of 2024, continuing on the downwards trajectory from the previous three months, according to the latest research by Marsh.
IFB warns of increasing danger as ghost broking rises 6%
UK insurers reported a 6% rise in ghost broking activity on social media last year, according to the Insurance Fraud Bureau as it warned the threat of people being duped would continue to increase with the growth of financial strain.
Ageas here for brokers Beckett promises as connected personal lines flourishes
“We are here for the broker today, and we will very much be here for them tomorrow. There’ll be no change in that strategy,” Ageas chief distribution officer Adam Beckett tells Insurance Age.
Former broker brand Kwik Fit resurfaces
UK automotive servicing and repair company Kwik Fit has launched insurance for car owners on its website.
Interview: Addept Group managing director Richard Finan
Addept MD Richard Finan gives Insurance Age the lowdown on his return to the market; his thoughts on changes to the MGA market in the wake of Consumer Duty; and the challenges of creating ancillary products in a post-FCA GAP intervention world.
Car premiums drop for second quarter in a row
Comprehensive car insurance premiums fell by 6% (£59) between April and June 2024, the second quarter of decreases according to the latest research by Confused/WTW.
Government starts discount rate review
The Ministry of Justice has confirmed the start of the 2024 review of the personal injury discount rate in England and Wales with a decision due no later than 11 January 2025.
Addept looks to go live in Q4 as it finalises capacity deals
Wholesaler Addept Insurance Services has revealed it plans to sell its first product in the fourth quarter, as it strives to hit a target of £5m net written premium by year three.
EY records worst motor performance since 2011 with 112.8% NCR
The UK motor insurance market experienced its worst performing year since 2011 last year, recording a loss-making net combined ratio of 112.8%, according to EY’s latest UK Motor Insurance Results.
Somerset Bridge swings to Ebitda profit as turnover doubles in 2023
Arch Reinsurance-owned Somerset Bridge Group trimmed post-tax losses in 2023 to £13m from £32m the year before, as it moved into positive Ebitda territory.
Interview: Nick Hobbs, Allianz Commercial
After the hardest but most energising 12 months of his career, Allianz Commercial’s chief distribution officer Nick Hobbs celebrates the insurer’s expanded appetite as he looks to bring even more quotes and solutions to brokers.
Ardonagh Advisory notches up fifth buy of 2024
Ardonagh Advisory has acquired Rollinson Smith Insurance Brokers, a community broker servicing the Shropshire, Staffordshire, West Midlands and North Wales regions with a reach in London and other areas of the country.
Biba calls on Labour government to act on broker commissions and fees
The British Insurance Brokers’ Association has called on the new Labour government to introduce secondary legislation in relation to the Leasehold Reform Act to allow for broker commissions and fees to be deemed permitted insurance payments as they are…
Partners& adds SEP bolstering North West footprint
Partners& has revealed its second deal in a week, buying Merseyside-based broker SEP Insurance.
AbbeyAutoline buys Martin Carey Insurance book
AbbeyAutoline has bought the customer book of business of Lisnaskea-based Martin Carey Insurance.
Brokers lacking when it comes to commercial motor FNOL best practice
Brokers are lagging in educating commercial motor clients on the best practice when it comes to first notification of loss procedures.