Post - 2010-02-25

Risk trio joins forces to improve ERM discipline

Eight years after publishing their first collaborative standard, the UK's three main risk management bodies have joined forces once again to co-author a new, free practical guide on enterprise risk management.

Axa MGA stance leads to 13% cut in volumes

Axa Insurance's strategy of lifting rates and exiting relationships with managing general agents has led to a 13% reduction in volume in its commercial lines book over the course of 2009.

Ebrands look to panel

Brightside insurance director Arron Banks has revealed plans to double the gross written premium of underwriting businesses Ecar and Ebike to over £200m by moving the products to panel arrangements.

View from the top - Nine-year wait is over

Although most of the insurers Post called last week were reticent to talk about the prospective merger of the Accident Management Association and National Association of Credit Hire Operators, the plan can only aid both sides in coming to amicable…

Fenchurch in Temple tie-up

New legal practice Fenchurch Law has agreed a deal with legal expenses insurer Temple Legal Protection to offer clients after-the-event policies on a delegated authority basis.

Groupama to up motor rates by 10% for 2010

Groupama Insurances UK chief executive Francois-Xavier Boisseau has vowed to increase private motor rates, pinpointing the division as the "only culprit" for the insurer's fall in profits.

Swiss Re back in the black

Swiss Re returned to profit in 2009, reporting net income of CHF506m (£303m) for the year, compared to a loss of CHF864m in the prior year.

Biba welcomes NY broker commission stance

The British Insurance Brokers' Association has welcomed the decision by US insurance officials to allow three major brokers to resume accepting contingent commission, bringing legislation more in line with the UK.

MoJ defends itself over claims of "done deal"

The Ministry of Justice has defended its decision to shorten the response time for its defamation costs consultation paper after the Legal Expenses Insurance Group hit out at the "arbitrary reduction" last week.

Fears rise as process reforms approach

Concerns are mounting that the imminent Ministry of Justice claims process reforms could encourage claims to be settled without medical evidence, creating significant exposures for solicitors and insurers.

Election 2010: Interview - Mark Hoban MP, Conservative

If the Conservative Party regains power at the 2010 elections, the insurance industry can expect to see a massive shake-up. In the first of Post's six-part profile of all the major parties Stephanie Denton talks to MP Mark Hoban, shadow minister for the…

Postbox - Rate increase charades

The logic of the recent rating announcements from AA Insurance, Zurich et al ticks all the right boxes for shareholders but lacks any credibility, given how insurers still have so many areas where the figures on rate increases bear no relevance to the…

Postbox - Blindingly obvious conclusion

I read the interview with Merlin's CEO and could not believe Richard Webster's conclusion, after breaching banking covenants, that "what we have learnt is... if you are exposed to the household market, you will see your demand go up and down alongside…

Middle East - Market Overview: Room for growth

While most in the insurance industry will not be looking to expand in the current global economy, Jane Bernstein points to an area where there are substantial opportunities for those willing to take the plunge.

Open GI trading clinicsgreen-lighted

A series of clinics aimed at helping brokers get the most out of their Open GI trading systems has been accredited by the Chartered Insurance Institute for the third year running.

QBE
Penny black's insurance week

Penny was out and about with Hastings CEO Edward Fitzmaurice this week, and one couldn't help but be surprised by his music taste. After a discussion of the fine arts — and not so fine arts — something of a revelation occurred. Among the standard…