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Budget leak confirms IPT receipts expected to hit £10bn by 2030
An extraordinary leak of the Office for Budgetary Responsibility’s post-budget report has revealed the impact of the autumn budget for insurers, with insurance premium tax receipts expected to hit £10bn by the end of the decade.
Former Tesco Insurance and Saga boss joins Hood Group
Gary Duggan, former CEO of Tesco Insurance, has joined The Hood Group as interim executive chairman after Simon Hood steps into a non-executive director role.
Ifed targets gadget fraud ahead of Black Friday
The Insurance Fraud Enforcement Department, part of the City of London Police, has carried out a week-long operation targeting individuals suspected of making false claims on insurance policies for their gadgets.
Spotlight: Shifting fraud detection to the point of application
Financial pressures and new technology are boosting fraudulent activity to ever-higher levels. With increasing online interactions, gaps in verification processes and sometimes limited resources dedicated to fraud detection, application and identity fraud have become the fastest-growing and most challenging threats to detect. Insurers must therefore apply the best possible controls at point-of-quo
Giving AI arms and legs to move insurance forward
At a recent webinar hosted by Insurance Post in association with Hyland, insurers explored how agentic AI could reshape underwriting, claims and fraud – and the challenges of keeping humans in the loop.
Pet insurers under fire for blindsiding vets with VetEnvoy halt
Independent vets claim they were blindsided after Allianz and several pet insurers failed to communicate non-Allianz brands will be removed from digital pet claims platform VetEnvoy, now known as Petios.
Cyber demand grows following high-profile attacks
CFC’s Andy Holmes has told Post the provider has seen increased demand for cyber cover in the wake of high profile cyber attacks this year, while warning the industry “needs to look at itself” over low levels of uptake for the product among businesses.
Black Friday warning: Thieves cutting into warehouses
With Black Friday (28 November) fast approaching, Sarah Durkin, head of counter fraud at loss adjusters Woodgate & Clark, warns of a increase in burglars cutting through walls and cladding to steal high-value stock undetected.
Fore! Golf boom drives up risks on and off the fairway
With more people teeing off than ever, David Worsfold examines how golf’s quiet fairways conceal growing exposures and gets to grips with the widening gap in the insurance cover many players and clubs rely on.
Aviva to close down DLG’s By Miles
After acquiring Direct Line Group earlier this year, Aviva is closing down pay-per-mile insurtech By Miles, Post can reveal.
CII and FCA warn AI could put vulnerable customers at risk
The Chartered Insurance Institute has unveiled new guidance to help firms better support vulnerable customers, and warned a rush to adopt AI tools risks compounding harm for those most in need.
Property insurance pay-outs hit record £4.6bn
Association of British Insurers members paid out a record £4.6bn in property insurance claims during the first nine months of the year.
Marsh hit with £85m negligence claim by pub giant
The UK’s largest pub company, Stonegate, is suing Marsh over cover the broker arranged for the group that allegedly left many of its establishments without business interruption insurance at the height of the Covid-19 pandemic.
60 Seconds With... ICAB’s Brandon Murtagh
Brandon Murtagh, operations director of Insurance Claims Accommodation Bureau, shares his hedge-trimming woes, dreams of market trading and hopes for a bucket-list Champions League Final.
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Why Which? submitted an insurance super-complaint
Rocio Concha, director of policy and advocacy at Which?, explains why the consumer watchdog launched an insurance super-complaint in response to persistent failures in claims handling and inadequate regulatory action and argues the system meant to protect customers urgently needs reform.
Big Interview: Hugh Kennaway, President of Cila
From jumping out of planes to global energy loss adjuster and volunteer police constable, new Chartered Institute of Loss Adjusters president Hugh Kennaway is a man with a mission: to expand the reach of the professional body.
Davies ties half of leadership pay to sustainability goals
Insurance Post can exclusively reveal half of Davies’ group executive committee now have their renumeration linked to the firm’s responsible business goals.
Lloyd’s flags sharp decline in future female underwriting leaders
Lloyd’s is facing a shrinking pipeline of female underwriting talent, with new data revealing women remain significantly under-represented at senior levels.
FCA’s Sheldon Mills to exit regulator
Sheldon Mills, executive director of consumers and competition at the Financial Conduct Authority, is set to leave the City watchdog.
Neal to be paid £2m by AIG without working a day
AIG has agreed to pay John Neal $2.7m (£2m) despite the former Lloyd’s CEO failing to work a day at the insurer, new filings have revealed.
Teens see cyber risks clearly – but don’t know insurance basics
Today’s teenagers understand the risks that will shape the insurance market of 2045 but are confused about the cover they need today, research has revealed.
Diary of an Insurer: Zurich’s Louise Griffiths
For Louise Griffiths, trading underwriter for Zurich UK, no two days are ever quite the same working in Wales and the south-west region, from growing her own fruit and vegetables to hosting roundtables.
Staysure enters Irish market; Rokstone’s cyber unit; Send’s CTO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Insurance broker jailed after pocketing customer payments
An insurance broker who diverted payments totalling more than £133,000 into his own personal bank account has been sentenced to more than five years in prison.
Lessons to learn from Lloyd’s investigation into Neal
Editor’s View: Lloyd’s examination of former CEO John Neal’s conduct raises difficult questions about oversight, culture and transparency, which Emma Ann Hughes argues the insurance market can no longer afford to shrug off.
Penny Black’s Social Diary: IQUW’s kitchen; Aon’s sliders
Penny Black is back, sharing the tittle-tattle she overheard at insurance industry events, reviewing the quality of buffets at conferences, and giving a thumbs up – or down – to the sector’s social media posts.