Moving home has to be one of the most annoying and tedious things we have to do. From organising your flat viewings to packing up all your belongings. And honestly who really likes change? It’s much easier to just stay in the place you've grown accustomed to.
However this is not always possible and change is imminent, whether it’s a house move, a job change or an unexpected redundancy.
This week we reported 180 staff at LV faced redundancy as a result of the Allianz commercial business transfer, with around nine in ten having found roles elsewhere.
While RSA’s former e-trading director Paul Trivett left the business. He is succeeded by Rob Flynn who has announced changes to the e-trade team and new hires. And Ian Kemp, RSA’s commercial motor underwriting director, took a voluntary redundancy amid the ongoing restructure.
Performance management director Jon Hancock is set to leave Lloyd’s of London this year once a successor has been found. While ex-RSA boss Steve Lewis resurfaces as CEO of insurance and reinsurance services provider and consultancy Pro Global.
In company news, GRP added Birrell Group as Midlands hub, former Iprism holding company moves towards liquidation with a small payout and Somerset Bridge sold its commercial subsidiary Business Choice Direct Insurance Services to Lloyd & Whyte Group. Simon Matson hinted that Capsicum Re could seek to expand its presence in the US through acquisitions, after Gallagher took full ownership of the reinsurance broker.
The Chartered Insurance Institute rolled out its priorities for refreshing corporate chartered status last year and said its ready to be held to account.
Gefion was barred from entering new lines of business and branching out into further territories until it can meet its solvency capital requirement. While Pukka has temporarily suspended trading having reached its capacity limit with providers.
In other news, Allianz Global Corporate and Specialty CEO has warned that companies face “a critical impact” if they fail to address cyber and climate risks.
The Financial Services Compensation Scheme has proposed a levy on general insurance providers of £118m for 2020/21, down £47m on the budget for the current year.
Meanwhile environmental and climate-related risks have topped the World Economic Forum’s rankings of long-term global risks ahead of the organisation’s annual meeting of political and business elites in Davos next week.
We also reported Zurich’s group chief risk officer Peter Giger has urged businesses to address environmental risks sooner rather than later and Australian Securities and Investments Commission has warned of insurance scammers in wake of fires.
In blogs, BGL Groups’ Peter Thompson cautioned that paying lip service to protecting vulnerable customers just “doesn’t cut it” and in the context of digital innovation is key to ensure customers are not excluded or unfairly treated.
Also in blogs, CFC Underwriting’s Tim Boyce looked at how artificial intelligence is altering the landscape of liability for the healthcare industry.
In trade voice, Ozlem Gurses of British Insurance Law Association looked at whether oversight of insurtechs is keeping up with the potential damage to consumer protection that new technology could bring.
In analysis this week, Veronica Cowan looked at 5G and the risks and opportunities it brings for insurers.
This week, Post sat down with Criterion’s James Long who spoke about the challenges the high-net-worth sector is facing, as well as predictions and plans for 2020.
Enjoy the read!