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Jes Staley ban upheld over relationship with Jeffrey Epstein

The Financial Conduct Authority’s (FCA) decision to ban Jes Staley, former CEO of Barclays, from holding senior management roles in the financial services industry has been upheld by the Upper Tribunal.
Posted on Thursday Jun 26

Do not be left high and dry this summer

Aviva is urging caution as data reveals a correlation between warm weather and fire claims. Number of garden fire claims is already significantly higher in April and May this year, overtaking every other month in 2024. Lightning claims are also increasing. Average claim for fire involving a garden is valued at almost £16,000. Research shows that one in eight (12%) worry about fire safety during hot weather
Posted on Thursday Jun 26

7 California wildfire lessons learnt for European insurers

The devastating January 2025 wildfires in Los Angeles, which destroyed over 16 000 structures and caused insured losses of approximately USD 40 billion, offer critical insights for insurers across the UK and Europe.

Posted on Thursday Jun 26

Call for simplification of EU cybersecurity regulation

Insurance Europe has welcomed the European Commission’s review of the Cybersecurity Act (CSA) and the forthcoming digital omnibus initiative, supporting the objective of simplifying regulation, reducing administrative burdens, and ensuring a proportionate, risk-based approach.
Posted on Thursday Jun 26

QR codes may be convenient but they can also be dangerous

A new cyber threat for the unwary, deliberately aimed at exploiting the desire for convenience, is out there and trapping victims. Cybercriminals are actively corrupting QR codes with fake replacements, which have malicious links embedded in them. This is known as ‘Quishing’. When the unsuspecting victim scans the QR code, it takes them to a malicious website or downloads harmful malware onto the victim’s device which prompts them to input payment details.
Posted on Wednesday Jun 25

Wildfires are a growing global threat

Allianz Commercial report highlights wildfire hazard trends and stresses the need for companies to be aware of how their assets and operations could either initiate or be affected by a wildfire. The increasing severity and frequency of wildfires, coupled with the growing number of people affected, has driven a significant rise in related losses – becoming six times more expensive over a decade. Regulatory challenges and litigation related to wildfire liabilities are also on the rise, necessitating robust risk management strategies and well documented wildfire management plans. Technological innovations are enhancing detection and suppression capabilities.
Posted on Tuesday Jun 24

ABI welcomes the 10 Year Infrastructure Strategy

The government has published its 10-year Infrastructure Strategy, which includes a commitment to more funding and a long-term framework to support flood defences
Posted on Friday Jun 20

This is why your home insurance premiums have risen

The average cost for a combined home insurance policy was £393 in January to March 2025, according to the latest figures from the Association of British Insurers (ABI). This figure, while it did fall by £1 when compared with Q4 2024, has risen overall by 7% in the last 12 months.
Posted on Friday Jun 20

Over 90 percent of insurers embracing AI for data ingestion

The latest research from hyperexponential (hx), reveals that data ingestion is the most established AI use case across UK (95%) and US (89%) insurers, underlining the industry-wide progress in applying AI to core operations.
Posted on Thursday Jun 19

Car insurance premiums continue dramatic fall

Comprehensive car insurance premiums have fallen by 16% (£144) during the last 12 months, with UK motorists now paying £757 on average, according to the latest Confused.com Car Insurance Price Index in association with WTW.
Posted on Thursday Jun 19

6 in 10 at Glastonbury have possessions lost or stolen

61% of festivalgoers have lost their belongings or had them stolen while at a festival – the average value of lost or stolen items is £368. Wallets/money were the most commonly lost item (60%), followed by mobile phones (46%) and Jewellery (37%)
Posted on Thursday Jun 19

Is your business suffering from AI hallucinations

The Head of Cyber at Towergate Insurance, Marc Rocker, has issued a warning about the effect of AI hallucinations and highlights some alarming issues for firms using this technology. Mr Rocker said: “Despite the name, AI doesn’t think for itself - it simply draws from the data that has been inputted into it. Therefore, if the data is wrong, the AI will use this flawed information to draw a false conclusion, resulting in an ‘AI hallucination’.
Posted on Wednesday Jun 18

Reputation Risk Events can reduce shareholder value

Aon has released its 2025 Cyber Risk Report, revealing that cyber events that cause reputation risks can result in an average of 27 percent drop in shareholder value, highlighting the growing financial and reputational stakes of cyber risk.
Posted on Tuesday Jun 17

Air India plane crash to harden aviation reinsurance market

The fatal crash of Air India flight AI171 on June 12, 2025, has become a pivotal moment for the already tightening global aviation reinsurance market. This tragic incident resulted in the death of 241 passengers and crew members and marks the first-ever fatal hull loss of a Boeing 787-8 Dreamliner, considered one of the most advanced and safest airliners of the company.
Posted on Monday Jun 16

Culture of risk aversion among financial regulators

In its report, ‘Growing pains: clarity and culture change required’, the Financial Services Regulation Committee highlights that the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA)’s secondary international competitiveness and growth objective is being held back by pervasive risk aversion, regulatory uncertainty, and inefficiency in the regulatory system.
Posted on Friday Jun 13

Extreme heat deadlier than floods earthquakes and hurricanes

Human lives lost to extreme heat exceed the total toll from earthquakes, floods and hurricanes. Heat-related risks extend to wildfires, healthcare systems, infrastructure and agriculture. Swiss Re's latest SONAR report examines emerging structural risks, among them a rising number of artificial intelligence (AI) incidents and decreasing trust in institutions
Posted on Thursday Jun 12

Scammer sentenced after selling fake motor insurance

A man has been sentenced to 12-months imprisonment, suspended for 12 months, with a requirement to complete 150 hours of unpaid work, after selling two fraudulent motor insurance policies to unsuspecting members of the public and then using their details to attempt to file fraudulent claims against them.
Posted on Monday Jun 9

SMEs focus on credit to pay insurance premiums

54% of SMEs use credit to fund insurance premiums and the average amount borrowed is almost 10% higher than last year, Premium Credit research shows. More than a quarter have cut levels of insurance cover in the past year with nearly one in five of them cancelling at least one policy and not replacing it.

Posted on Wednesday Jun 4

Fall in quoted car insurance premiums could be slowing down

Average quoted premiums drop by 10.8% in the past 12 months but rose slightly month-on-month in April. In April, motorists most commonly received a quote between £250 and £499, Consumer Intelligence data shows.
Posted on Tuesday Jun 3

Concerns over weak passwords enabling cyber criminals

Weak passwords can leave people exposed to security breaches and a recent survey has shown that very obvious passwords are still being widely used. Once hackers gain unauthorised access by identifying easy to crack passwords, they can steal sensitive information and use it to perform malicious activities, including identity theft, reputational damage and serious financial loss for individuals and the companies for whom they work.
Posted on Tuesday Jun 3

Consumers risk under insuring if they cannot pay monthly

One in four consumers will take out cheaper insurance policies or reduce cover if they do not have the option to pay monthly, Premium Credit’s Insurance Index shows. One in eight expect to cancel insurance cover they need over the next two years.
Posted on Thursday May 29

Time for Europe to harness the full potential of insurance

Statement published ahead of the 15th International Conference by Frédéric de Courtois, president of Insurance Europe, Alexander Sarrigeorgiou, vice-president of Insurance Europe and Thea Utoft Høj Jensen, director general of Insurance Europe.
Posted on Thursday May 29

More uncertain times driving positive vibe for insurance

The UK saw a 7 percent growth year on year in customers believing that insurers understand them and value their products and service. Guidewire has released the latest edition of its annual study of insurance customers in Europe, revealing their attitudes towards insurers and insurance innovation.
Posted on Wednesday May 28

Insurance payouts for pawly pets top GBP1bn for third year

Pet insurance pay-outs by ABI members topped £1 billion for the third consecutive year in 2024, helping households cover the cost of veterinary treatment for unwell and injured animals. This is according to the latest data from the ABI.
Posted on Tuesday May 27

FCA sets out proposals to simplify firm complaints

The FCA has set out proposals to improve and streamline the way in which firms report customer complaints to the regulator.
Posted on Friday May 23