Post - 2010-02-25
Articles in this issue
Allianz mulls online-only plan for direct personal business
Allianz Insurance is considering remodelling its Cornhill Direct business into an online- only provider.
Quinn to appeal High Court ruling over information access
Quinn Direct is to appeal a High Court judgment from October 2009, which it claims relates to issues "central to the rights of insurers".
Swinton targets at least 30 broker deals in 2010
Swinton has revealed it is targeting at least 30 acquisitions in 2010, after purchasing the personal lines business of CBG Insurance Brokers.
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.
Clear establishes second base after buy
Independent intermediary Clear Insurance Management has created its first satellite office, after completing its purchase of Lynas Vokes Insurance Brokers.
No replacement at Capita as fraud boss leaves
Capita has vowed to retain a presence in the claims management sector, despite another senior departure.
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.
MIB reduces levy on insurers for third year
The Motor Insurers' Bureau has introduced an annual levy on motor insurers of £397m for 2010, marking the third reduction in contributions to the fund of last resort in three years.
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.
Sterling to offer exclusivity
Sterling Insurance has allocated capacity of £12.5m estimated maximum loss to its new executive business offering.
PI victory highlights bus fraud threat
Provident has claimed a victory for the insurance industry after it avoided a potential cost of £200 000 in fraudulent personal injury claims.
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.
Bennetts aiming for growth with Lowe hire
Bennetts Commercial has set its sights on increasing commission income by 15% this year after adding ex-Jelf regional director Carole Lowe to its senior management team.
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.
Kerry London turnover rises
Kerry London has targeted 10% growth for 2010, after reporting a £0.8m increase in turnover to £15.9m in 2009.
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.
Ex-Willis Network broker joins Marsh alternative
A founding member of the Willis Commercial Network has become one of the first brokers to sign up to Marsh's commercial network.
44% in the dark on corporate manslaughter
A SURVEY by Allianz of brokers' awareness of the Corporate Manslaughter Act has revealed 44% are unaware of the penalties it proposes.
Biba warns brokers on data loss concerns
The British Insurance Brokers' Association has warned brokers after the government stepped up plans to impose heavy fines for data security breaches.
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…
View from the top - Lex Baugh: Is Jackson beneficial?
What are we to make of Lord Justice Jackson's proposals for civil litigation costs? Are they beneficial for the insurance industry? And what of the claimant?
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…
In Series - Solvency II: Stretching for the summit
Preparing for Solvency IIis turning out to be a much bigger challenge than many initially anticipated. Sam Barrett reports on what companies are doing to scale up in time.
In Series - Solvency II: A clear roadmap
Insurers need to now up the momentum in their design and implementation efforts for Solvency II, urges Stephen Lucas.
Roundtable: Online product delivery - Rise of the machines
The internet has had an enormous impact on the insurance industry, Post hosted a roundtable to find out its influence on product delivery. Stephanie Denton reports.
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.
Middle East - qualifications: An emerged market
Five years after establishing a Middle East base, Mark Greenwood details how the Chartered Insurance Institute is developing and delivering relevant qualifications in the local markets.
Legal analysis - Storm Claims: Covered by snow?
Stuart White examines cases of when snow is causative of damage and the all-important definition of storm.
Legal analysis - fraudulent misrepresentation: Love my tender
When does an ambitious sales pitch become a fraud? Dipti Hunter and Michael Williams report on the difficulties in proving fraudulent misreprentation.
Legal Analysis - School Liability: Holding the line
The recent case against Ridgeway school raised important questions. Nick Yates examines why the case needed to be fought.
Law reports: Council appeals successfully against horse fair charge
Glaister and others v Appleby-in-Westmorland Town Council (Court of Appeal — 9 December 2009)
Law reports: Appeal court leaves costs decision alone
Sughra Sulaman v Axa Insurance and another (Court of Appeal — 9 December 2009)
Law reports: Wincanton loses appeal against liability for second injury
Robert Eric Spencer v Wincanton Holdings (Wincanton Logistics) (Court of Appeal — 21 December 2009)
CII launches campaign to woo young people
the Chartered Insurance Institute has launched an online campaign aimed at showing young people the variety of opportunities that a career in insurance can offer.
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.
Groupama launches three-year talent plan
Groupama Insurances has launched a corporate initiative to drive talent within the company with the appointment of a new talent and resourcing manager.
Total Objects director aims for North Pole
A director at insurance software solutions provider Total Objects is preparing to trek to the North Pole to raise money for the Coins Foundation charity
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…
Looking Back - Inquiry into the missing Salem tanker
Fraud squad officers are planning a month-long inquiry in South Africa, Greece and Liberia into the riddle of the missing $24m tanker Salem (215 000 tons) and its oil cargo worth $56m, which vanished en route to Europe in January.
Looking Back - UN to play key role in development
The United Nations has a key role to play in the development of insurance in developing countries.
Looking Back - Recall costs could reach the billions
Insurers will not foot the bill for the biggest product recall in UK history — but the cost of paying out on related policies, defending claims and establishing liability, could reach billions of pounds.