All articles by Katie Scott – Page 38
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NewsAdmiral Group improves profit before tax by 20% in 2020
The past year acted as a ‘litmus test’ for the business, said group chief executive, allowing the insurer to demonstrate ‘strong operational resilience and agility’
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FeaturesIn Focus: What challenges will insurtechs face in 2021?
Last year rocked the insurtech industry, as it did the whole insurance sector, due to the Covid-19 pandemic. But what does 2021 hold for this part of the market and what challenges will need to be addressed? Industry experts share their perspectives…
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NewsHiscox records loss before tax of $268.5m in 2020 due to Covid impact
The insurer has reserved a total $475m to cover the costs of the pandemic as profits plummet – chief executive labels last year’s performance as ‘not satisfactory’
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NewsCII flags four areas of reputation risk for brokers
The trade body’s Society of Insurance Broking says that ‘improving the reputation of the insurance sector is a key priority’ if professionals want to boost customer trust in the sector
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News AnalysisBI test case was ‘a difficult moment during the year for RSA’ says UK boss
The insurer’s chief executive for UK and international business admitted that ‘there’s work to be done in 2021’ around business interruption coverage and reputational repair
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NewsAston Lark buys independent Scottish broker
The deal marks Aston Lark’s expansion ambitions in Scotland
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News AnalysisReform ban on pre-medical offers could lead to arrangements that aren’t ‘in the spirit of the rules’
As the government confirms that pre-medical offers will not be allowed for whiplash injuries after 31 May, Insurance Times explores how insurers may seek to circumvent this
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News AnalysisRSA’s UK&I business ‘is absolutely on track’ despite being ‘heavily impacted by Covid’
Chief executive Scott Egan says he is ‘really excited’ by RSA’s acquisition and that broker partnerships are ‘key to our success’
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NewsAviva aims to have net zero carbon emissions by 2040
Industry commentators say the insurer has gone ‘above and beyond its peers’ to tackle the climate crisis as it commits to stop underwriting companies that make part of its revenue from coal
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News‘Doing nothing is not an option’ following BI test case says ABI’s Huw Evans
The director general admitted that communications to company owners regarding their business interruption coverage was ‘too harsh and too insensitive’ early on in the Covid-19 pandemic, and that cyber insurance is the next coverage insurers and brokers need to keep an eye on
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NewsWhiplash reform regulation to come into force from 31 May
However, some industry commentators believe ‘we’re still only half-way there on whiplash’ and that ‘none of this actually helps anyone to work out how to set up and process a whiplash claim’
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NewsRSA reports £166m hit from Covid-19 for 2020
The insurer paid out £259m in group-wide claims costs pertaining to the coronavirus pandemic
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NewsFormer Aviva chief exec to launch insurtech
The business plans to target the non-prime and standard segments of the UK motor insurance market
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FeaturesBriefing: FCA prepares to bare teeth over the treatment of vulnerable customers
New guidance from the regulator points to greater monitoring and oversight of firms’ treatment of vulnerable customers as part of its supervisory approach – will this change be welcomed, or viewed as another regulatory burden?
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FeaturesIn Focus: ‘Enabler’ insurtechs will provide digital skill set to steer insurers out of pandemic – Sønr
Insurtechs offer a ‘great opportunity’ to assist large corporate insurers in making a ‘digital shift’ says Sønr chief executive
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NewsJensten Group buys Wiltshire-based broker
The deal forms part of the company’s buy and build growth strategy
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NewsAXA reports 3% drop in gross revenue for UK and Ireland in 2020
The insurer has also sought to minimise future exposure to Covid-19 claims by using exclusions within its business interruption and event cancellation policies
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NewsFour-month implementation period for FCA’s price walking remedies is a ‘joke’ – ABI
Despite potential implementation challenges, the trade association’s director general is ‘very hopeful’ that the proposed ‘road map’ with the FCA will solve the loyalty penalty ‘once and for all’
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NewsAgeas UK records 2% drop in gross income for 2020
Chief executive says the business has ‘a solid foundation on which to build’ for this year
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NewsAston Lark expands construction offering with new industry buys
Group chief executive says the firm’s latest purchases will help it continue to ‘grow in construction insurance’
