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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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Motor Insurance

CII reacts to BBC’s ‘unfair underwriting’ taunt

20 November 2012 alastair walker 0

Young Chartered Insurance Institute (CII) members are pushing for a thorough analysis of the effect of speed awareness courses on driver safety and how they should influence the premiums insurance companies charge motorists. The recommendation […]

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Insurance claims

Insurers slam delays in Riot Act payments

10 July 2012 alastair walker 0

Insurers reacted quickly to help customers hit by last August’s riots, but the riot compensation scheme failed too many Londoners the ABI (Association of British Insurers) said today at the London Assembly. With latest figures […]

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Global insurance trends

Groupama UK keeps distance from S&P downgrade

25 June 2012 alastair walker 0

Following the decision today by Standard & Poor’s to downgrade the security rating of Groupama Group, François-Xavier Boisseau, CEO at Groupama Insurances in the UK said: “Although as a Groupama subsidiary we are associated with […]

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Global insurance trends

Majority of insurers planning Solvency II shift

20 June 2012 alastair walker 0

Insurers are preparing for the introduction of Solvency II by changing their approach to calculating capital adequacy requirements, according to a report out today. Conducted by the Economist Intelligence Unit, the latest edition of the […]

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Insurance & Reinsurance

UK motor insurers’ underwriting results rebound 14%

24 May 2012 alastair walker 0

A 10% rise in gross written premiums failed to put UK motor insurers in the black during 2011, according to Deloitte. The market experienced “greatly improved financial results in 2011 but need to do more […]

Big Data

Father of the Web warns insurers against data profligacy

18 May 2012 alastair walker 2

Sir Tim Berners-Lee has urged insurers to avoid the temptation of using increasing amounts of publicly available data about consumers on the web to price their products.

The inventor of the World Wide Web made a plea to the industry at the British Insurance Brokers’s Association conference in Manchester yesterday, requesting that information we share about ourselves on line – particularly by young people through social networks – should not be gathered for the purposes of pricing risk. […]

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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. […]