Insurtech Flock has rolled out a motor fleet insurance product for professional removal and storage companies available through brokers and directly. The managing general agent detailed that its connected insurance product uses telematics data to help fleet managers within the removals sector to identify and address risky driving behaviours. The Flock Portal provides instant access … Read more
Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters. Bain bought home and motor insurer Esure in 2018 in a deal which valued the business at £1.2bn. According to Reuters potential bidders include Ageas which told the news outlet it never comments on market rumours. … Read more
TikTok’s lawyers are heading to US federal appeals court to argue that a law forcing Chinese parent company ByteDance to sell or see the app banned in the country is unconstitutional. Also in this edition: Ukrainian women step up into traditionally “male” jobs amid a labour shortage due to Russia’s invasion. Source link
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. The ratings expert also flagged that commercial lines prices while rising more slowly or softening were still “supportive of strong insurer performance”. Motor … Read more
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. The consultation paper Lloyd’s: A Modern Framework For Dealing with Poor Conduct and Behaviour in the Market, comes as the market admitted its current processes … Read more