FCA watchdog issues serious warning to the UK insurance industry

UK Insurance industry - Lloyd's of London

The Financial Conduct Authority’s caution follows on the heels of major admissions at Lloyd’s. The Financial Conduct Authority has issued a stern warning to the UK insurance industry to clean up its act. It warned insurer bosses that they had better eliminate their unacceptable behaviors and improve diversity among their numbers. The FCA’s warning comes with a threat to the jobs of the commercial insurance company bosses. This warning to the UK insurance industry arrives shortly after the 2019 admission from Lloyd’s of London of cases of sexual harassment and…

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Allstate, GEICO, and Allianz enjoy prospering worldwide renters insurance market

Renters Insurance Market - money - prosperity

The results of a new study have shown that insurers are enjoying a thriving sector. According to the outcomes published in a new renters insurance market report, the sector is thriving worldwide. Insurance companies such as GEICO, Allstate, Esurnce, Allianz, and Shelter Insurance & Mercury Insurance are all prospering according to the “Southeast Asia Renters Insurance –Market Development Scenario.” The study examined the strong successes these players are enjoying in this particular market. The report looked at the renters insurance marketplace using both qualitative and quantitative market data. It also…

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US insurance industry isn’t moving away from coal at the rate of EU insurers

US Insurance Industry - Power plant and wind turbine

A new report determined that insurers in the Unites States are falling behind their European counterparts. Though the number of companies in the US insurance industry that have moved away from coal has doubled this year, a new report shows that American insurers remain far behind those in Europe. Insurance companies in Europe have withdrawn support for coal at a substantially higher rate. The report, called “Insuring Coal No More,” looked at the European and US insurance industry. It scored the two regions for the third consecutive year according to…

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Green Vault discovers it is uninsured after $1 Billion museum theft

museum theft - jewels, vintage jewelry, silver, gold

The priceless, irreplaceable jewels stolen from the German museum were not covered by insurance. The day following a priceless jewelry and artifact museum theft in Germany, an unfortunate discovery was made. The items estimated to be worth over $1 billion are not covered by an insurance policy. This has added to the pressure on police to identify and locate the culprits in order to return the items. Last week’s museum theft made international headlines. The missing items include a pearl necklace, a diamond-encrusted dagger as well as dozens of other…

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Smart Technology and the Home of the Future

Smart Technology and the Home of the Future

The use of smart technology has already been a jump forward in domestic technology. Look back 100 years and there was very little technology in the home, whereas now the average home has technology products which allow them to communicate with people across the world, wash dishes and clothes not by hand, heat up food within minutes, watch video streams and content from millions of sources, and listen to digital music which isn’t owned. However, while these technologies are commonplace, smart technology isn’t yet being adopted by the masses, like…

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British Home Ownership Trends that May Continue Post Brexit

brexit british homes

Brexit is bringing a lot of uncertainty over the financial sector, and is preventing many people from making the changes they would usually make in like such as investments, house moving, stating up businesses, starting families, changing jobs and many other usual activities.  Home Ownership has been on a downward trend for some time, and other housing trends have been affected by the past ten years of turbulent politics and financial system. Insurer Deacon, a specialist in blocks of flats insurance recently produced a  article on the fascinating facts about…

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Allianz SE joins forces with Microsoft for a strategic insurance partnership

Strategic insurance partnership - Microsoft building

The two giants will be working together to transform the way digital processes are conducted. Allianz SE and Microsoft Corp have jointly announced that they’ve entered into a strategic insurance partnership. The goal is to digitally transform the insurance industry for greater ease and improved customer experience. Many consumers feel their insurers have fallen behind the times in terms of digital experience. The companies are hoping to use this strategic insurance partnership to change the entire customer experience from what it is today into something much improved. The idea is…

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