Weekly News Roundup – 22nd January
Your head must have been under a rock this week if you didn’t hear about the FCA UK Supreme Court ruling, which unanimously voted against the insurers’ appeals. The impact of this will send shockwaves throughout the industry. It would also be remiss of me not to mention another historic event, Biden’s inauguration, and there’s an interesting article discussing how his impact may be felt in insurance.
Initial reactions to UK Supreme Court’s ruling on business interruption claims (Source: Insurance Journal)
This judgement will not just affect the claims cost for insurers but also future policy wordings and beyond…
Concerns over capacity and regulation dominate European MGA outlook (Source: The Insurer)
As carriers continue to batten down the hatches when it comes to delegating authority to MGAs, will unrated paper reduce the quality of the market?
The insurance impacts of Biden’s 180 degree approach (Source: Insurance Business Magazine)
The President’s plans to reverse Trump’s climate change policies will hopefully allow for more mitigation but may also increase litigation.
11 insurtech predictions for 2021 (Source: Insurance Thought Leadership)
There have been a number of predictions for the industry for the next 12 months but these one specifically focus on insurtech, discussing how AI will improve customer service and reduce the cost for carriers.
Flood Re chief: climate change is a real risk now(Source: Insurance Business Magazine)
A recent parliamentary session focussed on what key measures need to take place to address climate changes and reduce flood risk.
Have a good weekend!