In the UK, vans travel nearly 58 billion miles each year, while heavy goods vehicles (HGVs) cover almost 17 billion miles. With such high usage, having insurance is not just essential—it’s legally required.
While governments, companies, and individuals are taking action on the protection gap, risk management has been inconsistent, Mantero said. He cited high population growth rates in catastrophe-prone areas in the United States, such as Florida, where Hurricane Ian dealt significant inland flooding and damage to communities in 2022. Florida was the fastest-growing state in the US that year according to US census data, with a 1.9% growth rate between 2021 and 2022.
Offering his insight, Tim Hardcastle, INSTANDA CEO and co-founder, noted that he has seen multiple different technology ‘waves’ throughout his career and that while the AI ‘wave’ is similar in many respects, there are some crucial differences. Take, for example, he said, the dot-com boom and, later the shift from on-prem to Cloud. Each of these advancements went through cycles, and it takes time for those cycles to wash through. That timing is largely impacted by two key elements – the physics and the economics.
Quayle said there is a renewed appetite for genuine entrepreneurialism, particularly on the underwriting side, but less so in the broker space. There has been a lot of movement on the broker side in recent months, he said, while on the underwriting side, private equity is proving that it loves the MGA model. “They deliver strong EBITDA numbers, which means you can service debt and service capital, and they continue to prove that if you can get to the right scale, the multiples are there.”
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As the world and, in particular, communication methods developed so did commercial and legal practices. Therefore, she said, there was a need to update the MIA 1906 to ensure that the law remained relevant to modern commercial practices and aligned with other key jurisdictions who were modernising their local insurance legislation to put more onus upon underwriters and less reliance upon the insured to feed information to the insurers.
The demand is there, whether for first-time buyers, home movers, or those remortgaging. The advisers who will thrive in this environment are the ones who educate their clients, anticipate changes, and offer the right financial products to guide them. Build trust now, and you’ll create long-term relationships.
One of President Trump’s initial actions upon stepping into office was signing Executive Order 14168, titled “Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government”, which effectively withdrew federal recognition for transgender individuals and aimed to eliminate diversity, equity, and inclusion (DEI) programs within the federal government.
CUO at Zurich UK Caroline Dunn (pictured centre, left), said it’s clear that it’s no longer enough to simply “talk the talk”. But what’s more important, she said, is that when this action is taken, there’s close monitoring of whether it’s helping with the overall journey. “At Zurich, we’ve moved beyond a focus on gender in isolation,” she said. “Our latest initiative to publish our social mobility pay gap does just this, it’s a characteristic which holds many D&I measures together.
Fraudsters typically target high-end microphones, which are compact, easy to transport, and have strong resale value. These items can be worth up to £10,000. In some cases, criminals establish credibility by initially renting smaller items before making larger fraudulent requests.
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