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Latest news on insurtech, insurance, reinsurance, uk industry insights and opinions, latest Lloyd’s and London market reports, stats and more for brokers, MGAs, insurers and suppliers.

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Global insurance trends

Lloyd’s emerging market expansion given thumbs up

17 May 2012 alastair walker 0

The Lloyd’s insurance market’s planned expansion into emerging markets is a net positive, even though writing insurance outside of established markets carries additional risks, according to Fitch Ratings.

Fitch said it expects the economic development of emerging market economies to boost demand for insurance and reinsurance. Lloyd’s already writes 25% of its business outside of Europe and North America, with the growth of insurance premiums outpacing that of developed markets. […]

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Insurance & Reinsurance

CBI warns against class action proposals

25 April 2012 alastair walker 0

The CBI has argued that proposals to enable group actions against companies will damage business in the UK. Responding to the launch of a Department for Business, Innovation and Skills consultation on private actions in competition […]

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Insurance & Reinsurance

Risk manager prominence rising across boardrooms

25 April 2012 alastair walker 0

Risk managers in financial institutions across Europe, the Middle East and Africa (EMEA) are seizing the opportunity created by the financial crisis to demonstrate how they create value and are rapidly gaining new-found kudos in […]

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Insurance & Reinsurance

Micro-insurance expanding rapidly says Munich Re & ILO

10 April 2012 alastair walker 0

The number of microinsurance schemes worldwide has increased substantially over the past five years and now reaches an estimated 500 million worldwide, according to the Microinsurance Innovation Facility of the International Labour Organization and the […]

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Household Insurance

Update: Marsh UK flood cover has insurer backing

3 April 2012 alastair walker 0

Global broking group Marsh said its affordable flood insurance plan has “critical mass”, despite pessimism from one commentator today.

Marsh and its sister company Guy Carpenter announced ‘Project Noah’ which they claim can secure affordable flood insurance for at risk properties in the UK, only to have the idea chastised following a tweet from an Insurance Edge reader.

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Insurance & Reinsurance

Could the police outsource to insurers?

12 March 2012 alastair walker 0

THE HEAD OF one of the UK’s largest police forces has invited insurers to help and invest in combating fraud and other criminal activity.

In a speech to the Insurance Institute of Manchester, Peter Fahy, chief constable of Greater Manchester Police indicated his support for the idea of law enforcement working more closely with the private sector and ‘outsourcing’ certain services.
“We’ve got to save £138m from our budget,” said Mr Fahy. “We are saving insurance industry money [through our investigations of crash for cash, fraud etc] is there no way we can’t work together more?” […]

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Household Insurance

Insurers to lead unwanted elderly customers towards correct aisle

8 March 2012 alastair walker 1

INSURERS UNABLE TO offer cover because of age restrictions  will have to direct the applicant towards an appropriate provider, according to new rules announced today. In a speech to the Age UK conference, Otto Thoresen, […]

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Insurance & Reinsurance

Lloyd’s promises sanction against Bribery Act failures

6 March 2012 alastair walker 0

Lloyd’s has issued a further reminder to members that it will punish those who ignore the risks posed by the UK Bribery Act 2010. According to law firm CMS Cameron McKenna, there is concern that […]