Insurance news

The new rule, COCON 1.1.7FR, brings non-financial misconduct explicitly within scope of the FCA’s Conduct Rules for the first time in non-banking firms, aligning them with a standard that has applied to banks for several years. The FCA has deliberately avoided a closed list of what counts as misconduct, describing it broadly as behaviour “not of a clearly financial nature,” with bullying, harassment, sexual misconduct and violence named explicitly, provided the conduct is sufficiently serious and has a genuine work-related link. The threshold for seriousness is aligned with the definition of harassment under the Equality Act 2010. From today, firms must also disclose verified misconduct incidents through regulatory references when staff move between employers.

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The AA‘s three private equity owners, TowerBrook Capital Partners, Warburg Pincus, and Stonepeak, have been pursuing a dual-track process for most of 2026. They have been weighing a sale against a London Stock Exchange flotation that Sky News said remains viable as late as 2027. Both Allianz and the AA declined to comment.

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What profiling adds that raw telematics can’t is a pattern across a workforce, not just a single driver. Consistent fatigue findings, for instance, can point to scheduling, workload distribution or time-on-task limits rather than a string of unconnected bad decisions, and Gallagher Bassett has flagged that economic pressure – longer hours, second jobs, reduced recovery time – can make that pattern more likely to appear.

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Ransomware hasn’t gone anywhere either

None of this replaces the market’s older, more familiar headache. Tarraf and his fellow panellists were unanimous on the Insurance Business Cyber Round Table that ransomware remains the dominant loss driver even as AI-related and third-party claims broaden the picture. Underwriters, they said, are asking sharper questions about controls such as multi-factor authentication and endpoint detection than they were a few years ago. But Tarraf cautioned that those questions are still too often binary: “Do you have MFA? Yes, no. There’s no nuance to it… quite often we get into a matter, a ransomware matter, and we ask the organisation, did you have MFA on remote access? And the answer is yes. And it’s a truthful answer… however, when you dig into it a little bit, you find that it wasn’t configured right, or the MFA wasn’t enforced on every single account.”

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More capacity, more choice

This deal sits inside a wider shift that gives brokers more options over time, not fewer. The MGA Opinion Report 2025, produced by the MGAA with Clyde & Co, found that 57% of carriers expect to increase their capacity allocation to MGAs over the next two years, with 46% saying they had already done so in the past twelve months, and financial lines named by a fifth of carriers surveyed as a top area for new capacity.

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The bigger test now is less about shareholder approval, which looks likely given Vereniging Aegon’s locked-in support, and more about execution risk over the roughly 18-month runway to the targeted 2028 effective date, spanning a full transition to US GAAP reporting, a new governance framework, and the operational complexity of formally becoming an American company while still carrying meaningful international operations in markets including Brazil and Bermuda-based Transamerica Life.

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The warnings span east Wales, the Midlands, northern England, East Anglia and southern England, including London, as warm, humid air moving up from France triggers storms capable of dropping 20mm to 30mm of rain in under an hour, with some locations potentially seeing 40mm to 50mm in two to three hours.

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Founded in 2019 by Gordon Newman, Neil Pearce and Colin Rogers, NPP provides specialist broking services to retail brokers and coverholders seeking access to the Lloyd’s market, with established expertise across global specialty, international liability, construction, offshore marine liability and specialist property.

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More approvals moving through planning does not, by itself, produce more skilled labour, more thorough site inspection, or more conservative contractor behaviour. The conditions that have already pushed construction insurers toward higher deductibles and, in some cases, market exit are structural rather than volumetric – and accelerating build volume without addressing those underlying conditions tends to show up later as elevated claims frequency in structural warranty and latent defects lines.

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The Duke of Sussex, Sir Elton John, Baroness Doreen Lawrence and four other claimants have been told to pay Associated Newspapers Limited (ANL), publisher of the Daily Mail, an initial £9,544,355 by 28 August, after Mr Justice Nicklin ruled that costs in the failed privacy case should be assessed on an indemnity basis rather than the standard basis.

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