Weekly News Roundup – 5th November

All eyes have been on Glasgow this week as COP26 (otherwise known as the United Nations Climate Change Conference) got underway. Needless to say the insurance industry has not escaped scrutiny. The UK’s Chancellor of the Exchequer announced that the UK plans to become the first-ever ‘net zero-aligned financial centre’, putting pressure on those insurers still providing cover for fossil fuels. Read on to find out more…

Reaction streams in after Rishi Sunak’s net zero financial centre announcement (Source: Insurance Business Magazine)
The Chancellor makes a bold statement but what does that really mean for financial institutions and insurance?

EU watchdog says insurers could face climate tests in 2023 (Source: Reuters)
Due to its exposure to climate change risk climate tests could be brought forward for the industry, says the Chairman of EIOPA.

Twins who built $1.3B Marshmallow car insurance startup as industry challenger (Source: Insurance Journal)
It’s been an impressive journey for the UK insurtech as they reach unicorn status.

Flexibility is the new watchword in insurance (Source: Oxbow Partners)
Usage based insurance seems to be the way forward in response to customers’ requirements for flexibility in all areas of their lives.

Webinar: Appointed Representatives – Managing the Regulatory Risks for MGAs (Source: MGAA)
A webinar with ICSR will explore the key issues that an AR network brings to a principal, examine likely changes to regulation and outline the existing AR regulatory regime.

Wolfe: Swiss Re eyes rich opportunity for embedded personal lines insurance (Source: The Insurer)
The insurer is seeing ‘rich opportunities’ in the personal lines space for embedded insurance.

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