Insurance Today

1 week ago | insurancetoday.co.uk | Edward J. Murray

The Association of British Insurers has welcomed the government’s commitment to invest £7.9bn over ten years in flood defences. The Department for Environment, Food and Rural Affairs said the investment underpinned the largest flood defence programme in history and that every pound spent was expected to prevent around £8 in economic damage.

1 week ago | insurancetoday.co.uk | Edward J. Murray

Independent and privately owned broker Lockton generated revenue of approximately £2.9bn in the year ended 30th April 2025. This was up by 13% on the previous year and was almost entirely the result of organic growth. Lockton said this was the fifth consecutive year it had achieved double-digit organic growth. The broker said its Lockton Re division grew by 29% year-over-year, while its transaction liability practice grew by 59% on an annualised basis.

1 week ago | insurancetoday.co.uk | Edward J. Murray

The Court of Appeal has given definitive guidance that credit hire organisations are responsible for the costs of unsuccessful litigation. Previously, they were sheltered from the costs of such litigation due to the Qualified One-Way Costs Shifting protection of the claimants. The Court of Appeal ruling was in respect of cases including Tescher v Direct Accident Management Limited and Axa Insurance UK PLC v Spectra Drive Limited, which was recently added to the appeal.

1 week ago | insurancetoday.co.uk | Edward J. Murray

Insurance provider Paymentshield has added AmTrust Specialty Limited, a subsidiary of AmTrust International, to its tenants’ contents insurance panel, which also includes Tradex and Allianz. Paymentshield said the lettings sector was an area of growth for its business. Rana Ali, director of distribution for lettings at Paymentshield, said: “We’re delighted to see AmTrust join our panel, as they’re an experienced insurer with first-rate customer service should tenants need to make a claim.

1 week ago | insurancetoday.co.uk | Edward J. Murray

Tesco Insurance has urged drivers to contact their local council or road authority if they suffer damage to their vehicle as a result of potholes. The carrier highlighted the need to present information relating to the size of the pothole, its location and the date, time and conditions surrounding the incident. Tesco Insurance said it had seen a 21% year-on-year increase in motor claims relating to potholes.