Insurer
FCA to introduce consumer duty to drive “fundamental shift” in industry mindset
The regulator has launched a consultation on the duty, which was first flagged in May this year, as it seeks to increase consumer protection and tackle harm.
People Moves: 6-10 December 2021
Keep up to the date with the latest industry moves.
Kroll reverses “reckless” MCE MTA decision
The administrator will now allow the provider to process mid-term adjustments.
News analysis: Calculating broker PI
Brokers are counting the cost of their own professional indemnity protection. Sam Barrett investigates.
FCA launches AR consultation to "address harm"
Regulator warns that there are "real risks of consumers being misled and mis-sold with little scope for recourse" as it proposes changes to the current model.
HMRC flags potential code of conduct for brokers in IPT consultation update
Government outlines the next steps and details responses from industry stakeholders, including brokers, insurers and trade bodies.
Xenia buys Northampton-based broker
Deal is the trade credit specialist's seventh since its launch in 2019.
Gallagher completes $3.25bn Willis Re deal
The broking giant will combine WTW's treaty reinsurance brokerage operations with its existing reinsurance business under the brand Gallagher Re.
People Moves: 29 November - 3 December 2021
Keep up to date with the latest industry moves.
Aviva takes new chief claims officer from Axa
Waseem Malik is joining Aviva in March 2022, replacing Dave Lovely who recently left the provider.
Blog: Is the industry falling in love with GAP insurance again?
Avid's Steve Duxbury discusses how the market for GAP insurance has changed since the FCA's 2015 thematic review and argues that it is set for accelerated growth.
MS Amlin appoints first ever head of sustainability and ESG
Amir Sethu will be responsible for both the continued development and implementation of MS Amlin’s ESG strategy.
CFC develops ransomware cost calculator
The tool can help businesses to understand the financial risk of a cyber attack.
FCA reforms decision-making to tackle consumer harm
The “sensible streamlining” changes are designed to improve the speed and allow FCA senior managers to start civil and crimimal proceedings, cancel permissions and address individual authorisation.
Stephanie Smith, Allianz COO, to exit
It is the latest in a raft of management changes at the insurer following a restructure.
Gibraltar regulator denies accusations from MCE
MCE criticised the regulator earlier this week after its Gibraltar-based insurance arm went into run-off.
Zurich unveils flood resilience initiative
Insurer says it has transformed the way it handles flood claims for both direct and broker business following a warning by the Environment Agency (EA) that the UK must “adapt or die” to climate change.
Video Q&A: Hiscox's Andrew Cheney on underinsurance in HNW
Andrew Cheney talks to Insurance Age about the dangers of underinsurance in the HNW property arena and what brokers can do to help.
Protesters target Convex over coal
Activist group Market Forces is attacking the provider for refusing to rule out insuring the Adani Carmichael coal mine in Australia, in the latest climate protest aimed at the insurance industry.
MCE slams Gibraltar regulator after insurer arm goes into run-off
MCE condemns GFSC for applying capital add-ons on its Gibraltar-based insurance company, which went into run-off on 5 November.
Aviva urges brokers to take "holistic approach" to risks
Its latest risk report shows businesses are facing a "complex web" of interconnected risks.
RSA boosts employee benefits
The insurer develops staff proposition by improving its maternity and adoption, paternal, and shared parental leave policies.
Axa UK appoints COO for commercial lines
Ursula Wyman joins the insurer’s commercial business and its executive committee, succeeding Tim Yorke, who will be leaving the business at the end of the month.
People Moves: 22-26 November 2021
Stay up to date with the latest insurance industry moves.