All articles by Katie Scott – Page 43
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News2021 set to be ‘less profitable’ year for insurers – Fitch Ratings
Credit ratings agency identifies the key factors that are contributing to market outlooks in the UK
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NewsIrish regulator fines commercial retail broker €41,385 for overcharging customers
The broker’s fine also covers the fact that it issued unclear communications regarding fees
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NewsGovernment launches consultation to amend Flood Re scheme
Under the proposals, claims payouts will include additional funds to help policyholders ‘build back better’ following flood damage
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FeaturesLondon Market is ‘less competitive than it should be’ – Founder Shield
New York-based broker says the London Market ‘is showing a lack of agility’ and that ‘fewer opportunities will come’ to the capital unless it starts ‘taking more bets with slightly longer odds’
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NewsFCA fair pricing report will ‘reduce profitability’ for insurers – Fitch Ratings
Furthermore, the home insurance market will be more affected than motor insurance as around ‘80% of premiums comes from renewal business’
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NewsAon and Willis Towers Watson confirm leadership team for combined business
Aon’s Greg Case will remain as chief executive officer following the acquisition, spearheading the company’s new ‘one firm’ ethos
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NewsQ Underwriting secures capacity to launch new property and package division
A new property owners product will be available for broker partners from February
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FeaturesBriefing: Has the drive for transparency come too late to repair reputational damage?
Discussions around greater transparency in policy wordings and clarifying coverage have become a top priority following the FCA’s business interruption test case – is this a ‘better late than never’ scenario or has the hit to the sector’s reputation crippled any chance of forging customer trust?
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IT InterviewIn Focus: Commercial brokers have ‘felt the pain’ for Covid-affected clients – McCarron Coates
Insurance Times sits down with commercial wheels broker McCarron Coates to explore how the Covid-19 pandemic has impacted its clients and what the sector can expect moving forward
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NewsHowden Group records 6% organic growth in year to September 2020
Chief executive believes ‘the opportunities that lie ahead for Howden Group are extraordinary’
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FeaturesIn Focus: How can brokers not so keen on private equity ensure succession in their business?
Brokers considering their succession planning have more options on the table than just private equity backing. Industry experts share their views…
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NewsPIB Group to be acquired by global private equity advisory firm
Broker chief executive believes the acquisition is a ‘significant milestone’
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News‘Hollowing out is a massive problem’ say Chartered Transparency Forum members
Broker chief executive calls out the disconnect between price and value in insurance and urges insurers to instead offer ‘a genuinely all-embracing contract’
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NewsInsurers less exposed to BI risks in latest lockdown due to new exclusions
Ratings agency director says there is no ‘appetite for providing cover as part of general property business interruption’
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NewsBroker clients ‘more responsive’ to broadening cover due to BI backlash – McCarron Coates
Commercial clients want wide coverage without the price tag, while insurers are trying to recoup returns, says broker director
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NewsFCA plans to use ‘full range of regulatory tools and powers’ to check insurers pay valid BI claims
Furthermore, the regulator recognises the ‘key role that insurance brokers and other insurance intermediaries’ play to ensure policyholders’ claims are progressed
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NewsOnslaught of Covid claims expected to hit CMCs as 70% see claims registered
Research by broker Gallagher also predicts the pandemic claims uptick will cause a 40% rise in litigation compared to previous years
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NewsAviva commercial lines MD to join Lloyd’s in newly created role
The new hire will oversee market performance and distribution
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NewsOnus is on insurance industry to improve transparency and reduce expectation gap - CII
Expert panel says there are clear business benefits in ‘taking this bull by the horns’
