Working group launches code of conduct for insurance market when using AI January 31, 2024 A collaboration between 127 experts, including the former UK COO of Aviva, has resulted in the creation of a code of conduct for the insurance industry for using AI. This initiative aims to establish and uphold “the highest standards of behaviour and ethical responsibility” when planning, designing, or utilising AI in the management and settlement [...]
Investing in the weather? Why catastrophe bonds are taking off in the City January 25, 2024 Catastrophe bonds may sound risky, but betting on the weather can prove a sound investment, writes Claude Brown.
Amazon is shutting down its UK insurance store after just a year January 24, 2024 Amazon started rolling out to select customers in October 2022 and available to all UK customers at the end of 2022.
UK has insured £102bn worth of Russian oil despite sanctions January 24, 2024 A former Cabinet minister has called on the insurance industry to think on its obligations after it was revealed that UK firms have insured over €120bn worth of Russian oil.
Howden hails business as insurance brokers ramp up partnership with British and Irish Lions January 15, 2024 Founder of City insurance group Howden has insisted that “business is on fire” as it prepares to announce its annual results next month. “It was another very strong year for us,” founder and chief executive David Howden told City A.M. “You’ll see that we have already announced a couple of other critical acquisitions in Europe [...]
Andreessen Horowitz backs London insurance start-up to shrug off UK venture woes January 11, 2024 Silicon Valley giant Andreessen Horowitz (a16z) has thrown its weight behind London insurance tech Hyperexponential today in a deal that shrugs off the gloom gripping the UK’s venture capital market.
Regulator to investigate historic claims on car finance commissions January 11, 2024 "There is significant dispute between some firms and consumers on whether firms have breached legal and regulatory requirements," the FCA said.
Extreme weather tops insurance risk list for 2024 after £75bn bill last year January 10, 2024 Environmental risks continues to dominate the global risks landscape according to a new report by the World Economic Forum
Shares in Admiral and Direct Line sink after FCA regulator takes aim at premium finance January 10, 2024 In an interview with Insurance Post, Matt Brewis, head of insurance at the Financial Conduct Authority (FCA), described premium finance as a "poor product".
Jeremy Hunt signs ‘groundbreaking’ financial services agreement with Switzerland December 22, 2023 Chancellor Jeremy Hunt has signed what he called a “groundbreaking” deal with Switzerland on financial services.