CBI: Use Brexit and Budget to boost optimism among manufacturers
Concerns that political and economic conditions might limit export orders in manufacturing over the next three months are at their highest since immediately after the EU Referendum, according to the CBI’s latest quarterly industrial trends report. CBI chief economist, Rain Newton-Smith, said the figures were “sobering” and demanded immediate action at home and abroad.
US$160bn insurance gap revealed in emerging economies
An estimated US$163bn of assets are underinsured globally, according to new research from Lloyd’s and the Centre for Economics and Business Research (CEBR). The average insurance penetration rate in developed nations is twice as high as the average in emerging, or lower income countries, which account for almost all (US$160bn) of the global insurance protection gap.
SMEs optimistic despite ongoing Brexit uncertainty
Small and medium-sized companies are confident about their prospects over the next five years despite ongoing Brexit uncertainty, new research from MetLife UK shows. The survey of companies employing between 50 and 300 staff – which make up around 34,000 businesses in the UK with an annual turnover of £541bn and employing 3.3m people -- found 76% are optimistic about their business prospects for the next five years, with more than a quarter (28%) saying they are very optimistic.
Companies have 'poor understanding' of insurance policies, Mactavish says
Mactavish says a lack of understanding of insurance policies among UK boards leaves them at "significant risk" of insurers not paying out on claims. Issuing its stark warning today, the governance and consulting group added that, while the Insurance Act 2015 and the new Corporate Governance Code may have increased the focus on risk at board level, board members and senior directors do not adequately appreciate all of the dangers and threats facing their organisations -- an added factor in the probability of insurers not paying out of claims, it says.
London company market income leaps 16pc
London company market premium income has jumped to £26.3bn, according to data from the International Underwriting Association (IUA). It says 2017 GWP was £18.331bn while a further £7.984bn was identified as written in other locations, but overseen and managed by London operations.
HawkSight and PGI join forces
HawkSight Software has joined forces with PGI to offer users data feed integration capabilities covering geopolitical events, security incidents and business continuity threats.
Working with PGI’s API, the software will display incident data from the last 48 hours each time a user logs in whilst storing older data for recall when required. Incident data can be displayed as a cluster, or heat layer, and may also be charted, with click through capability to enable interrogation of individual incidents in greater detail.
CBI: Budget must tackle Brexit uncertainty
In its pre-Budget letter to the chancellor, business group the CBI has focused on three key areas it says are key to unlocking growth: reforming business rates to ensure firms can invest and grow, building on recent announcements to make the apprenticeship levy work; and improving capital allowances to drive investment – particularly in digital and low carbon technologies.
FCA sets out proposals ahead of UK’s exit from EU
The Financial Conduct Authority has set out its proposals in the event the UK leaves the European Union on 29th March 2019 without an implementation period. It has also set out its approach to the regulation of credit ratings agencies, trade repositories and data reporting services providers.