“She’s really focused on ensuring that we listen to our broker partners, are consistent in delivery, want to innovate with them where their clients want new products and really focus on being responsive on the underwriting and ensuring we pay claims well,” said Horton.
Bottomline, a provider of business payments and cash management solutions, offers LSM services to the property and casualty insurance sector, supporting insurers, third-party administrators, self-insured entities and corporate legal departments with cloud-based software applications and legal bill review solutions.
According to the report, while interest in insurance is high, attracting demand is proving more challenging. For example, it found that 44% of those surveyed were interested in long-term care insurance, but this was the least owned insurance product – at just 23%. Affordability was touted as the main concern.
At the same time, insurers and reinsurers continue to underwrite fossil fuel projects, financing the expansion of industries that contribute to climate change. Some firms, including Allianz, Aviva, and Swiss Re, have adopted climate policies aimed at limiting their involvement in fossil fuel extraction. However, others remain heavily invested in the sector, ensuring that oil, gas, and coal projects continue to receive coverage, according to the report.
Swift also noted the discrepancy between the headline figure provided by DVLA, which noted that 106,000 vehicles were reported stolen in the UK in 2024, including cars, vans, motorcycles and others, while the Office for National Statistics put the number at 130,000. Swift said the difference could be due to data processes.
In the 14 weeks since the October 30 budget, potential redundancies have remained just under 68,000, 12% lower than the same period last year, according to government filings by businesses. Separate data from HR software provider Employment Hero, covering 90,000 workers at small and medium-sized enterprises, shows that full-time employee numbers rose by 1.4% in January after declines in the previous two months.
Looking ahead, Gallagher Re anticipates continued interest in AI applications within insurtech, particularly in underwriting, claims processing, and cyber risk management. While the investment landscape may remain cautious, the report suggested that a more disciplined approach to funding could lead to a stronger and more stable insurtech market in the years to come.
Miller reported that ship-to-ship (STS) oil transfers have risen, particularly in the Mediterranean and Black Sea, as part of efforts to disguise oil origins. Safe STS estimates that approximately 11,500 such transfers of clean and dirty oil products occur annually, with an increasing concentration in sanctioned regions.
According to the FCA, more than £2.3 million was taken during this period, resulting in financial losses for several victims, including family members, friends, and a vulnerable child. The alleged misconduct took place over a decade, affecting multiple clients who had entrusted Campbell with their financial affairs. The FCA has stated that the alleged fraud involved a pattern of deception that extended to both clients and regulatory authorities.
Meanwhile, a report by law firm CMS found that, since January 2020, 792 professional indemnity claims have been filed in the High Court, with 476 involving solicitors or legal firms. Despite the number of claims remaining stable, there has been an increase in cases brought by individuals representing themselves. These claims typically involve allegations of breach of contract, negligence, breach of fiduciary duty and breach of trust.
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