Keep up with what has been happening this week in our latest insurance news round-up…

Lloyd’s of London has final Brexit transfer approval

Lloyd’s of London has finalised its Brexit continuity plan, as they announced the final approval has been secured to transfer European Economic Area policies to their insurance company in Belgium.

Arch Insurance has introduced terrorism insurance for SMEs in the UK

Arch Insurance has added a new terrorism insurance for small and medium-sized companies in the UK, which will be available as both a standalone policy or as an integrated part of an existing programme.

Getsafe expands its UK insurance by teaming up with GoCompare

Getsafe, a German digital insurance provider has partnered up with GoCompare to expand its UK insurance services further. This will allow Getsafe’s products to be listed as an option when customers use GoCompare.

Fintech coalition asks for UK regulators to allow consumer data not to be dominated by banks

The Coalition for a Digital Economy, fintech advocacy group, have called for a more market-led approach to open finance by ending the dominance of banks over the use of consumer data. They argue that this will increase competition in the savings, mortgages, credit and pensions markets.

ComparetheMarket fined £17.9m over high home insurance costs

The Competition and Markets Authority (CMA) has fined price comparison site, ComparetheMarket, £17.9m for keeping home insurance costs artificially high by not making it as simple for customers to find the cheapest possible deal.

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