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Incident response planning is a key cybersecurity control

Despite being focused on post-breach activities, cyber incident response planning has emerged as a key cybersecurity control in reducing an organization’s likelihood of experiencing a breach-related claim, according to a new report from the Cyber Risk Intelligence Center (CRIC) of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy, and people.
Posted on Wednesday Aug 27

US GI broker market to hit one and a half trillion dollars

The US general insurance broker market is projected to grow at a compound annual growth rate (CAGR) of 5.9% from an estimated $1.2 trillion in 2024 to $1.5 trillion in 2029, in terms of direct written premiums (DWP), according to GlobalData.
Posted on Tuesday Aug 26

Consumers are open to advice when purchasing insurance

59% of consumers say they would use a comparison site to research non-compulsory insurance products. Among 25–34-year-olds, 14% would consider the opinion of influencers and 10% would use AI tools to research products.

Posted on Friday Aug 22

UK pet insurance costs highest in Europe

Pet-owning Brits are now the most likely in Europe to say their insurance costs are the highest they’ve ever been, with pets getting sick or injured now a major worry for many. Despite the costs, Brits are still the most likely nation to insure their pet’s life over their own, and one in six prepared to forgo other types of insurance to protect their pet. One in five Brits now hold pet insurance, the highest in Europe, reflecting the UK’s reputation as a nation of animal lovers and the recent growing trend of pet ownership. The findings come against a backdrop of rising veterinary costs, inflation and a record increase in claims, with payouts topping £1 billion for the third year in a row.
Posted on Friday Aug 22

Eight to Embark on the top travel insurance tips

The latest data from the ABI highlights the essential role of travel insurance, as its members paid out £472 million across more than 500,000 claims in 2024.
Posted on Friday Aug 22

IPT rakes in extra GBP123m for HMRC

HMRC tax receipts update shows that Insurance Premium Tax (IPT) receipts recorded a total of £1.03 billion in July 2025, an increase of £68 million on the same month last year (£957m).
Posted on Thursday Aug 21

Heading to Reading keep safe and hang onto your essentials

As the UK gears up for a bank holiday weekend of festivals and outdoor events, The AA is urging attendees to drive safely and keep track of their belongings, after a survey* of over 10,000 members found that three quarters (75%) believe car keys are the item most likely to be lost at a festival.
Posted on Wednesday Aug 20

LMA advice on Russian Oil after changes in Oil Price Cap

EU/UK reduce price cap to US$47.60 per barrel. In a first, US diverges, with its price cap to remain at US$60 per barrel. The Lloyd’s Market Association (LMA) today advised insurers to review their exposures to Russian oil in response to upcoming changes to the Oil Price Cap regime for the UK and EU.
Posted on Thursday Aug 14

Car premiums fall but repair and theft costs rev up claims

The latest data from the ABI’s quarterly premium tracker shows that the average cost of motor insurance has fallen by £60 over the past year. For the period April to June 2025, the average premium was £562 - down from £622 in the same quarter of 2024. When adjusted for inflation, the real-terms decrease is even more pronounced, amounting to an £81 drop year-on-year.
Posted on Thursday Aug 14

Car and home insurance premiums fall again in July

The latest General Insurance Price Index from Pearson Ham Group shows that average top-five premiums for both motor and home insurance declined again in July 2025, extending the downward run seen in the first half of the year.

Posted on Wednesday Aug 13

Car insurers boost competition as EV go mainstream

More insurance products are being launched including specific EV policies. Prices are falling but cost of repairs remain an issue.
Posted on Wednesday Aug 13

LMA publish two new model profit commission clauses

The Lloyd’s Market Association (LMA) has published two new model profit commission clauses suitable for use on binding authority agreements across all lines of business. These updates have been produced by the LMA’s Personal Accident Committee and discussed with the delegated authority community.
Posted on Friday Aug 8

Insurance advice for those affected by Storm Floris

If your property has suffered damage as a result of storm force winds: Contact your insurer as soon as possible. Most will have 24-hour emergency helplines to ensure you get advice on what to do and arrange repairs as quickly as is possible.
Posted on Thursday Aug 7

Stay vigilant as theft from person crimes surge

New data shows theft from person crimes rising sharply including a 118% jump in Waltham Forest. With phone snatching and pickpocketing on the rise, insurers like SJL are urging people to check their cover and take precautions.
Posted on Thursday Aug 7

Wildfires and severe thunderstorms drive losses to USD80bn

First half of 2025 second costliest first half-year ever, driven by California wildfires and severe thunderstorms in the US. California wildfires accounted for USD 40 billion of insured losses, highest-ever insured loss from a wildfire event. With both North Atlantic hurricane season and wildfire season in progress, insured losses in 2025 could exceed Swiss Re Institute's projection of USD 150 billion
Posted on Wednesday Aug 6

Most dangerous areas to drive in London

Enfield has been named as the most dangerous London borough to drive in, with residents 8% more likely to be involved in a car accident than the rest of the city, new data from CRIF finds. Drivers based in Waltham Forest and Brent are also among the most likely to have a collision, while the City of London, Kingston upon Thames and Bromley are the safest areas for London’s motorists. Drivers living in higher risk areas could face higher insurance costs – with research showing up to 2.5 million people have driven without insurance due to rising premiums.
Posted on Wednesday Aug 6

Brake announces Associate Partnership with Hastings Direct

Brake, the road safety charity, and Hastings Direct, a technology and data-driven insurance provider, are delighted to announce a new partnership, bringing together the shared commitment to making UK roads safer and promoting responsible driving behaviours.
Posted on Monday Aug 4

FCA to consult on motor finance compensation scheme

Motor finance customers could receive a pay out after the Financial Conduct Authority (FCA) announced it will consult on an industry-wide compensation scheme.
Posted on Monday Aug 4

IPT receipts triple in last decade

This morning’s HMRC Insurance Premium Tax bulletin reveals show that total IPT receipts for the last complete financial year 2024 to 2025 were £8.88 billion, which is £737 million (9%) higher than the previous financial year 2023 to 2024 (£8.15 billion).
Posted on Thursday Jul 31

Property insurance payouts underscore continued support

Insurers paid out £1.6 billion in claims during the second quarter of the year to help homeowners and businesses bounce back from unexpected events and costly disruptions, according to the latest data from the ABI.
Posted on Wednesday Jul 30

Insurance market for hydrogen may reach over USD3bn by 2030

Hydrogen demand could increase fivefold by 2050, while clean production may rise to 60% by 2035, driven by significant investments and planned projects globally. While market potential for hydrogen is very high, there are lots of unknown variables and risks for setting up a robust and secure infrastructure. The insurance sector has an important role to play in the hydrogen economy, addressing risks across the supply chain, from construction and production through to the end user, and through direct investment.
Posted on Wednesday Jul 30

Insurance market capacity expands as systemic threats grow

Aon has released its Q2 2025 Global Insurance Market Insights report. The report outlines a rare and potentially short-lived moment in the global insurance market with capacity expanding and pricing softening across many lines, creating favourable conditions for buyers.
Posted on Wednesday Jul 30

AI impact broadens beyond underwriting in insurance sector

Underwriting and risk profiling remains the most positively impacted area of the insurance value chain by artificial intelligence (AI). However, the share of industry insiders selecting this area has declined since 2023, suggesting growing momentum for AI adoption in other parts of the value chain, according to a recent poll by GlobalData, a leading data and analytics company.
Posted on Friday Jul 25

Majority of mutuals report AUM growth and Own Funds increase

Government’s aim to double the size of the mutual and co-operative market presents significant opportunities for financial mutuals. Gross Written Premium for participants rose to £116m on average (2023: £105m) but Gross Claims Incurred also increased to £149m on average (2023: £137m) in growth challenge for mutual sector.
Posted on Wednesday Jul 23

Trade credit claims fall in volume and value

The Lloyd’s Market Association, in collaboration with the International Underwriting Association and London & International Insurance Brokers’ Association, today launched the results of their annual survey of global trade credit insurance claims, conducted by A2Z Risk Services.
Posted on Wednesday Jul 23