The Financial Conduct Authority has published final guidance (FG21/1) on what it expects from firms when dealing with vulnerable customers to ensure they enjoy the same level of outcomes as all others. Some 27.7 million adults in the UK have characteristics of vulnerability.
Consolidating broker Aston Lark has acquired construction market specialists Sennocke International Insurance Services Ltd and Build-Zone Survey Services Ltd.
Motor insurer First Central has teamed up with Shift Technology and is now using its fraud detection solution to spot suspicious claims.
Results from the Lloyd’s 2020 annual culture survey show the market lags behinds its aspirations to be an inclusive market with a positive culture. The survey is now in its second year and results from 2020 show an improvement in the previous year. But this year’s research found that only 50% felt comfortable about raising concerns about behaviour.
Zurich has invested in data analytics and telematics insurance provider My Policy and agreed to join its panel as a long-term insurance capacity provider.
Specialist legacy group Compre has completed the reinsurance to close transaction of Syndicate 3330’s 2018 year of account into its recently established Lloyd’s Syndicate 1994, managed by Apollo, and the purchase of Axa DBIO II’s Corporate Member.
The Association of British Insurers has published estimates revealing members expect to pay around £2.5bn for COVID-19 insurance claims incurred in 2020. The latest estimates include £2bn for COVID-19 business interruption claims and £204m paid from COVID-19 related protection insurance claims including life, critical illness, and income protection insurance claims.