Lloyd’s of London licensed broker launches crypto insurance product May 11, 2022 A Lloyd's licensed insurance broker has launched a dedicated crypto product to shore up legal protections for digital asset firms.
Letters: Insurance is paying a price May 11, 2022 [Re: Hiscox sets aside £32m to weather impact of war in Ukraine, May 5] What’s happened with insurer Hiscox is just another example of how the insurance industry is now entering the most prolonged hard market in living memory. After the financial and reputational losses sustained during the pandemic, we are now deep into a [...]
Aviva chair hits back at shareholders following ‘inappropriate’ comments at AGM May 11, 2022 The chair of Aviva has said he was left “flabbergasted” by a barrage of “inappropriate” comments targeted towards female board members at Aviva’s annual general meeting (AGM) this week. The Aviva chair hit out at shareholders, after investors subjected female company executives, including Aviva chief Amanda Blanc, to a barrage of sexist comments on Monday, [...]
UK recession lurks around corner as thousands face extreme poverty without more support May 11, 2022 A recession in the UK is just around the corner and the economy will stay in the doldrums without a major policy overhaul, a top think tank warned today. Britain’s economy will contract in the third and fourth quarters of this year, meeting the grade for a technical recession, the National Institute of Economic and [...]
Scrap National Insurance hike to ease cost of living, says Khan May 10, 2022 BORIS Johnson should cut National Insurance contributions in a bid to ease the cost of living, Sadiq Khan has said during a trip to the US. The Queen’s speech, delivered today, did not include further measures to ease the burden of sky-high gas prices and the Prime Minister warned that “we cannot spend our way [...]
Insurance brokers could face caps on commissions as FCA reviews high rise insurance market May 10, 2022 Insurance brokers could face rules limiting commissions amid the City watchdog’s review into tower block insurance coverage. The Financial Conduct Authority (FCA) was asked to review the insurance market for blocks of flats earlier this year, after housing minister Micheal Gove said he was “extremely concerned” by accelerating costs faced by leaseholders. In an update, [...]
Slater Investments slaps down Miami fund’s £482m Randall & Quilter takeover bid May 10, 2022 A major investor in AIM listed insurer Randall & Quilter has rejected a £482m offer to take the company private, after claiming the offer is too low. Slater Investments, which owns a 10 per cent stake in the Bermuda based firm, rejected Brickell’s offer, after slamming the Miami headquartered fund’s offer to pay 175p-per-share. “In [...]
UK unions and ports slam government’s seafarer minimum wage law May 10, 2022 Both unions and the British Ports Association (BPA) have criticised the UK Government’s introduction of a seafarers’ minimum wage law, calling it “likely unworkable.” “This proposal is feeble and highly unworkable,” said Frances O’Grady, general secretary of the union TUC. “Only stronger employment legislation that boosts worker protections and stops companies firing on the spot [...]
EU scraps plans to ban shipping of Russian oil imports amid backlash May 10, 2022 The European Union has been forced to abandon plans to bar the shipping of Russian crude oil amid pushback from member states.
EU can’t always get what you want: Hungary stalls progress towards Russian oil ban May 10, 2022 Hungary has continued to withhold its backing from a long-proposed European Union ban on imports of Russian oil supplies.