week commencing 01/11/20:

Only one story held the world’s attention this week and it’s not the launch of Lloyd’s Blueprint Two, nor the much-anticipated return of the insurance industry to the High Court. Stop the count or count the vote? As old hacks we’re all for balance, but surely they can’t have it both ways?

Blueprint Two heralds transition to data-led market

Lloyd’s has published detailed guidance on its latest modernisation processes in Blueprint Two, a two-year change programme focusing on open market and delegated authority business. External-link. [Insurance Insider]

BI test case date confirmed

The UK Supreme Court will hear the FCA BI test case appeal on 16 November. The hearing is expected to last four days and will consider matters raised by the FCA, Arch, Argenta, Hiscox, MS Amlin, RSA, QBE and the Hiscox Action Group of policyholders. External-link. [Reuters]

Déjà vu on Solvency ll

Having already spent time and money on the implementation of Solvency II, the P&C industry has little appetite to go down this road again amid concerns this could jeopardise EU equivalency. External-link. [Insurance Insider]

Lloyd’s to remain open

Lloyd’s has announced that the Room will remain open on Wednesdays throughout England’s second lockdown. External-link. [Asia Insurance Review]

Aon confident on margin growth

Broker Aon has said that the pressure on organic growth in Q4 will be more significant than in prior quarters because of the seasonality of its business, with more discretionary revenue occurring in the last three months of the year, while expenses will be more in line with 2019 levels. External-link. [The Insurer]

London sees US premium uptick

There has been a marked uptick in premium volumes flowing into London from the US this summer, according to a survey of LIIBA members. The survey found total premiums for US property and casualty business in July 2020 were 25% higher than July 2019. External-link. [Reactions]

Insurers must confirm products deliver as intended

FCA guidance has not changed but the regulator has issued a reminder to insurers to review their product lines and take action by 3 December where products have not delivered the intended value to customers due to the coronavirus. External-link. [Asia Insurance Review]

Argo warns on sale of syndicate

Argo CEO Kevin Rehnberg says its syndicate 1200 must lower its expense ratio as the group continues to prune unprofitable units. External-link. [Insurance Day]

Hiscox reports strong growth in London market business

Hiscox has recorded a positive third quarter, with growth in premiums fuelled by rate rises and no worsening of its Covid-19 claims liabilities. External-link. [Insurance Day]

Red line, red mist or red wall?

With the US election result potentially being determined by the quality of its post-election narrative, can – or should – journalists remain impartial in today’s post-truth world? A former BBC news head and an LBC phone show host discuss. External-link. [BBC]

External-link. External links are being provided as a convenience to relevant content; they do not constitute an endorsement or an approval by Luther Pendragon of any of the services or opinions of external content. Luther Pendragon is not responsible for the accuracy, legality or content of these external sites. Please also note that some external content may require a subscription to view.