News
Almost half of UK commercial properties underinsured – Gallagher
Research from Gallagher has found that more than four in 10 (46%) commercial properties are underinsured, with the average shortfall being 40%.
Kayzen Specialty rolls out D&O wrap offering
London and regional markets focused managing general agent Kayzen Specialty has launched an add-on for directors’ and officers’ insurance claiming it will provide broader cover protecting individual executives from gaps.
Gauntlet launches AR proposition for returners
The Gauntlet Group has launched an appointed representative proposition for broker returners, Gauntlet Phoenix.
Montagu agrees to sell Open GI to minority shareholder Ares
Ares Management is set to acquire Open GI, with the deal signed on 9 August 2024, Insurance Age can exclusively reveal.
Bspoke adds ex-Barbon boss Tonge in property owners’ build out
Bspoke Group has appointed former Barbon leader Wayne Tonge as managing director of its newly formed property owners division, Bspoke Property Owners.
Das grew 8% with stable COR in 2023 en route Arag deal
Das has posted growing gross written premium to £139.3m in the run-up to being bought by Arag.
Beat launches proRISE targeting SMEs via wholesale brokers
Beat Capital Partners is launching proRISE Insurance Services targeting management and professional liability insurance for SMEs with its products distributed through wholesale brokers.
Bob Pybus named CEO of AUB UK Retail
Industry stalwart Bob Pybus has been appointed CEO of AUB UK Retail, with Tom Wilson leading wholesale broking as CEO of Tysers.
Epoq Legal launches ‘re-imagined’ LEI for businesses
Epoq Legal has unveiled a legal expenses insurance product featuring LegalAde for businesses, in partnership with Temple Legal Protection.
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Lloyd’s appoints ex-McKinsey leader Sir Charles Roxburgh as chair
Lloyd’s has named Sir Charles Roxburgh as its next chair to take up the role on 1 May 2025, succeeding Bruce Carnegie-Brown.
Biba calls on FCA to remove large SMEs from scope of Consumer Duty
The British Insurance Brokers’ Association has called for larger commercial customers to be removed from the scope of the Consumer Duty
Bspoke extends capacity backing with three-year SiriusPoint deal
Bspoke Group has signed a three-year capacity deal with SiriusPoint worth up to £60m in gross written premium in year one.
Ghost broker handed two-year suspended prison sentence
A man who sold invalid insurance policies and tried to take out car insurance for himself by covering up his driving offences and using a fake no-claims discount certificate has been sentenced to two years in prison, suspended for two years.
Broker Insights hones in on £6bn
Broker Insights has confirmed that brokers have uploaded £5.5bn of gross written premium to its Vision platform as it tracks towards hitting £6bn by the end of the year.
Spring Insure gets Bridgehaven capacity
Managing general agent Spring Insure has secured A-rated capacity from Bridgehaven Specialty UK to sit alongside its existing backers as it targets expansion.
Laka buys renewal rights of CoverCloud’s bike portfolio
Insurtech Laka has bought the renewal rights to CoverCloud’s bike portfolio from broker Acumen Insurance Services.
CFC launches carbon credit loans policy
CFC has launched Carbon Lender Insurance policy deployed with Standard Chartered Bank, claiming a first.
IS2 promises supercharged commercial schemes distribution
IS2 has launched an API enabled hosted pricing solution, staking a claim for a commercial lines schemes first.
Flock launches insurance for removal fleets
Insurtech Flock has rolled out a motor fleet insurance product for professional removal and storage companies available through brokers and directly.
Esure owner Bain eyeing up sale – report
Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters.
Moody’s improves outlook for UK property and casualty insurers to stable
Moody’s has changed its outlook for UK property and casualty insurers to stable from negative, noting prices for personal lines cover, such as motor insurance, have risen sufficiently to absorb claims inflation.
Lloyd’s looks to better protect whistleblowers as it consults on misconduct framework
Lloyd’s has begun a consultation as it looks to modernise and streamline its approach to dealing with poor conduct and behaviours in the market including both financial and non-financial misconduct.
Which? sounds the alarm again on “eye-watering” motor and home insurance interest rates
Research by Which? has revealed the average annual percentage rate for motor insurance on monthly premium finance at 22% and 20% for home policies.