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IPT receipts hit £5.52bn exposing a growing contradiction

Broadstone comment on the latest HRMC data showing Insurance Premium Tax (IPT) has collected £5.52 billion through the first seven months of the Financial Year (2025/26).
Posted on Friday Nov 21

Fraudulent insurance claims continue to top £1 billion

The ABI has stressed that the fight against fraud must continue as its annual detected fraud data reveals that £1.16 billion worth of fraudulent general insurance claims were identified in 2024 - a 2% increase on the £1.14 billion detected the previous year.
Posted on Thursday Nov 20

Customers want both Gen AI efficiency and human empathy

Generative AI (Gen AI) is transforming how insurance customers interact with their insurers – from researching products and comparing quotes to submitting queries and managing coverage. A new Geneva Association report, Gen AI in the Insurance Customer Journey, provides a global perspective on how customers experience and perceive the increasing use of Gen AI in insurance.
Posted on Thursday Nov 20

Ageing, AI and the revival of industrial policy

Fiscal expansion, industrial policy, ageing societies and AI to transform global economy and risk landscape. Global GDP growth to stabilise at 2.5% in 2026 and 2.6% in 2027 with inflation to remain above 2% in advanced economies. Global insurance premiums to grow by 2.3% annually in real terms with life insurance premiums to be on track to reach USD 4.1 trillion by 2027
Posted on Wednesday Nov 19

Over one in three drivers still unfamiliar with Telematics

New research from Consumer Intelligence highlights a significant disconnect between the insurance industry's use of terminology and consumer understanding, with over one in three (38%) UK drivers reporting unfamiliarity with the term "telematics" a concept the industry has been promoting for more than two decades.
Posted on Friday Nov 14

No room for AI when it comes to DIY

Biggest DIY disaster claim cost more than £14,600 after homeowner drilled through water pipe. Artificial Intelligence has got work to do if it’s going to crack the home improvement market, according to new research from insurer Allianz UK.
Posted on Wednesday Nov 12

Extend salary sacrifice to lower paid staff

Andrew Timpson, employment tax partner at RSM UK explains why the Autumn Budget presents the ideal opportunity to extend salary sacrifice to lower paid workers.
Posted on Wednesday Nov 12

Nearly £200 million paid in cyber claims last year

The ABI has called for cyber insurance to become a part of every organisation’s modern risk management strategy, as its latest figures show £197 million was paid out to help businesses recover from cyber incidents in 2024.
Posted on Wednesday Nov 12

AI and cloud computing drive data centre construction boom

Global spending on data centers is expected to reach several trillion US dollars by 2030 with the US and China as main drivers of growth. The surging demand for data centers has created a building boom, with costs for some construction projects exceeding $20 billion, say Allianz Commercial experts. Rapid expansion is heightening exposures and introducing new risks for companies and insurers.
Posted on Thursday Nov 6

$80 trillion energy transition to shape global risk markets

Swiss Re’s latest analysis shows how the accelerating global energy transition is reshaping the risk landscape for investors and insurers. Estimates show that by 2040, total investment into energy transition, climate mitigation and adaptation is expected to surpass USD 80 trillion[1], marking a shift from experimentation to large-scale deployment.
Posted on Wednesday Nov 5

Global Insurance Market Insights

Aon has released its Q3 2025 Global Insurance Market Insights report. The report finds that insurance buyers are enjoying some of the most competitive market conditions in years, with abundant capacity, broadening coverage and double-digit rate reductions across many lines and regions.
Posted on Tuesday Nov 4

EV insurance challenges ahead in European sector

Morningstar DBRS published a commentary discussing the higher popularity of electric vehicles (EVs) in Europe and the impact on car insurance prices and European insurers’ underwriting profitability.
Posted on Monday Nov 3

Singapore GI market to surpass $8 billion in 2030

The general insurance industry in Singapore is projected to grow at a compound annual growth rate (CAGR) of 6.3%, increasing from SGD6.7 billion ($5.1 billion) in 2026 to SGD8.6 billion ($6.5 billion) in 2030, in terms of gross written premiums (GWP), according to GlobalData, a leading data and analytics company.
Posted on Friday Oct 31

Damage and impact from Hurricane Melissa

Today’s final post on Melissa, barring unforeseen changes in the forecast, starts the long process of examining the aftermath of a historic Atlantic hurricane.
Posted on Thursday Oct 30

GI market at tipping point as switching hits historic lows

Motor switching drops to 33% and home to 36%, Consumer Intelligence data shows. Bad and good experiences with claims are increasingly a reason to change or stay with an insurer.
Posted on Thursday Oct 30

China motor insurance industry to reach USD 174bn by 2030

The motor insurance industry in China is projected to grow at a compound annual growth rate (CAGR) of 5.4%, increasing from CNY999.1 billion ($140.0 billion) in 2026 to CNY1.2 trillion ($174.0 billion) by 2030, in terms of gross written premium (GWP), according to GlobalData, a leading data and analytics company.
Posted on Wednesday Oct 29

Cyber resilience is the weakest link we can no longer ignore

Trafalgar House has said that cyber resilience and inconsistency is the weakest Link in pensions we can no longer ignore.
Posted on Wednesday Oct 29

Cyber insurance demand surges amid geopolitical tensions

Cyber insurance has emerged as the most in-demand insurance product as escalating geopolitical tensions drive a surge in cyber threats. With conflicts increasingly extending into cyberspace, organizations are prioritizing stronger digital resilience, while insurers focus on providing clearer coverage and faster recovery support to meet the growing complexity of cyber-related risks, reveals the latest poll by GlobalData.
Posted on Tuesday Oct 28

Locked out loved ones unable to access financial passwords

More than a third (37%) of Brits say loved ones wouldn’t know their financial passwords were they to pass away, while 33% wouldn’t be able to locate important documents. And it’s not just financial details that are out of reach, but also social media passwords or lock box details. Despite UK adults avoiding talking about death with their partner (20%), children (29%), and parents (35%), more than half (52%) admit they’d feel reassured knowing their loved ones would be ok.
Posted on Tuesday Oct 28

UK businesses leading global peers in risk oversight

Aon have announced the UK findings of its 2025 Global Risk Management Survey. The survey reveals that UK businesses are outpacing their global peers in risk management and governance.
Posted on Tuesday Oct 28

AI in insurance: Navigating regulation across the US

Artificial intelligence is offering US insurers a plethora of new opportunities, driving transformation in risk assessment, customer engagement and operational efficiency. Despite recent efforts to bring AI regulation under federal auspices, oversight remains characterised by a fragmented and largely state-driven regulatory environment.
Posted on Monday Oct 27

Car Insurers sharp rise in PPO liabilities after ASHE data

New data from the Office for National Statistics’ Annual Survey of Hours and Earnings (ASHE) reveals a sharper-than-expected increase in care worker pay, triggering a significant rise in Periodic Payment Order (PPO) obligations for UK motor insurers and reinsurers.
Posted on Thursday Oct 23

The changing shape of monthly car insurance payments

New data from Consumer Intelligence shows that while the cost of spreading car insurance payments is falling, fewer insurers are offering the choice
Posted on Tuesday Oct 21

IPT continues to rise so is it time for a rethink

HRMC data shows that Insurance Premium Tax (IPT) has collected £4.54 billion through the first half of the Financial Year (2025/26). It marks an increase of £39 million on the same period through the previous Financial Year (£4.50 billion in 2024/25) which went on to collect an all-time high tax take of £8.88 billion.
Posted on Tuesday Oct 21

Beneath the surface of AI in Insurance

Artificial intelligence has become a common technology in the insurance industry, with a focus on claims processing, reveals a new report by Sollers Consulting. However, there are significant differences between companies in their preparedness to deploy artificial intelligence. The business and IT consulting firm conducted in-depth interviews with leading representatives from 35 insurance companies in five regions across Europe and North America.
Posted on Monday Oct 20