Artificial intelligence (AI) is shaping up to become a transformative tool in the UK insurance sector, new research has shown, with brokers increasingly adopting the technology into their workflow. Findings from a recent study by RSA Insurance indicated a positive…
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UK Mulls Captive Insurance Regime
Captive owners, brokers, insurers, and representatives from the wider risk management community have gathered to explore the idea of introducing a captive insurance regime in the UK. Brought together by Economic Secretary to the Treasury Andrew Griffith and the London…
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Dale Underwriting Partners Inks Strategic Deal With CVC
Dale Underwriting Partners has entered a strategic partnership with CVC, a prominent global private markets manager overseeing €161 billion in assets. As part of the deal, CVC funds will make investments into Dale, serving to replace existing third-party capital providers…
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FM Global Unveils Second Credit Support For Climate Resilience Solutions
FM Global has unveiled its second consecutive resilience credit initiative to bolster client investments in climate resilience solutions. This resilience credit, totaling approximately US$350 million (£280 million), will be distributed among FM Global’s clients, equipping them with additional resources to…
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BIBA Unveils New Latent Defects Scheme
The British Insurance Brokers’ Association (BIBA) has launched a new latent defects scheme offering specialist building warranty coverage for the property development and construction industry. Latent defects insurance (LDI) policies safeguard against any inherent defects in design, workmanship, or materials…
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Average Annual Natural Catastrophe Losses Reach US$133 Billion – Verisk
Average insurance losses from natural catastrophes are now at around US$133 billion (approximately £106.2 billion) annually, a record high, according to new data by Verisk. According to Verisk, the insurance industry would have to prepare for more than US$100 billion…
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Premium Credit Offers An Alternative Payment Method For FCA Fees
Premium Credit offers a finance facility that allows insurance brokers to spread their Financial Conduct Authority (FCA) fees and levies over monthly repayments. A press release from the finance services provider said this alternative payment method was first made available…
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Ardonagh Advisory Declares Double Swoop
Ardonagh Advisory has officially welcomed two significant additions to its group: high net worth (HNW) broker Stanhope Cooper and managing general agent (MGA) Renovation Underwriting. This follows a prior agreement to acquire a majority stake in these businesses. As part…
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Cytora Announces Integration With CAPE Analytics
The digital risk processing platform Cytora has today unveiled its integration with AI-powered property insights provider CAPE Analytics. Under the terms of the integration, CAPE’s commercial property data APIs will be accessible on the Cytora platform, bolstering insurers’ ability to…
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Frontier Risk Bags $3M For It’s Current Seed Funding Round
About the firm Frontier Risk a leading risk management company has recently announced successful completion of their seed funding round. The company has raised a significant amount of capital from a group of investors which will be used to further…
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