Post - 2010-04-08
Articles in this issue
Marsh wins Commonwealth double
Marsh has added to its portfolio of international sporting events after being appointed insurance broker and risk adviser for the 20th Commonwealth Games, to be held in Glasgow in 2014.
Outsourcing giant Capita set to take on travel insurance
Capita Insurance Services has revealed plans to enter the travel insurance sector before the end of the year.
UKRC puts rehabilitation on the general election agenda
The UK Rehabilitation Council has thrown down the gauntlet to the main political parties, asking them to stipulate their plans for improving the country's poor return-to-work record, with a view to posting responses live on its website in the run up to…
Zurich revisits action plan as Quinn faces 12 April D-day
Zurich has outlined its appetite to renew business currently held by Quinn Insurance's UK arm, by offering brokers and customers a 90-day hold covered facility.
Brokers offer welcome mat
Quinn Insurance's fall into the hands of administrators was "a disaster waiting to happen", according to broker bosses.
Drivers may pay the price
Niche areas within motor insurance such as cover designed specifically for young drivers could see rate increases of up to 20% after Quinn Insurance was ordered to cease underwriting in the UK, according to motor brokers.
Bids in for Kwik-Fit insurance
Investment bank Credit Suisse is mulling over bids to buy the insurance arm of Kwik-Fit after they were submitted for consideration by 2 April.
Homer defiant over "negative" outlook
Towergate chief executive Andy Homer has refuted rating agency Moody's claim that its short-term outlook is 'negative', insisting it will not sell off parts of the business to cut debt.
Growth plan at Brightside
Brightside has targeted 20% growth in 2010 after posting a record revenue of £44.7m for 2009. Overall revenue increased by 35% (2008: £33.2m).
RSA considers market position with review
RSA has stopped actively promoting its energy efficiency services while it considers the future of its offering in the market.
Top 5 Post stories
The top five most popular stories on postonline.co.uk over the last week were:
Fraud gang sentenced
Following a detailed insurance fraud investigation by Merseyside police's crime operations unit, 25 defendants have received sentences ranging from imprisonment to community orders.
FSA needs transparency
The Financial Services Authority should be more transparent about how fines on firms are set, law firm Reynolds Porter Chamberlain has said.
Torus enters financial lines
Torus UK has entered the financial lines marketplace in London through underwriting agency Torus Executive Risks.
CNA Europe mulls Lloyd's potential
CNA Europe has not discounted a return to Lloyd's, a decade after its US parent sold its managing general agent to Chaucer, Post has learnt.
Warning over 15-day rule
Robertson & Co has warned insurers against taking their eye off fraud as they try to fulfil claims within the 15-day timeframe set out under new Ministry of Justice rules on road traffic accident claims.
E-certificates put on a par with paper
The insurance industry has welcomed the introduction of regulation giving electronic motor insurance policies legal parity with paper policies.
Editor's comment: Can the gap be filled?
A week on and the dust has yet to settle around the future of Quinn Insurance, both in the UK and Ireland.
Bosses back Tory NI pledge
Axa UK group chief executive Nicolas Moreau and his Jardine Lloyd Thompson counterpart Dominic Burke were among 23 UK business leaders who publicly backed the Conservative party's pledge on National Insurance.
MPPI product launched
Unemployment, accident and sickness specialist British Insurance has launched its first direct mortgage payment protection insurance product.
Earthquake hits Baja
A magnitude 7.2 earthquake occurred in Baja California, Mexico on 4 April.
GI industry braces for battle with Ceiops
The Committee of European Insurance and Occupational Supervisors has been urged to lower its solvency capital requirement standard formula following the opening of the pre-application process for internal models.
Marsh's new online tool
Marsh has launched a new web-based service that gives global clients hands-on tools to monitor and analyse the financial health of the insurance companies on their insurance programmes as well as those under consideration.
Pet cover goes green
The Green Insurance Company is to expand its personal lines portfolio with a range of environmentally conscious pet insurance products.
Willis adds new brokers
Six brokers have become new members of Willis Networks bringing the networks' combined membership to 106 firms.
Giles poised to acquire Cooper Gay division
Giles Insurance Brokers is set to acquire Cooper Gay's UK wholesale broking division, FSJ Broking.
Merger activity on the up
Insurance accountancy firm Moore Stephens has credited the banking sector for the resurgence of merger and acquisition activity among insurance intermediaries.
HSBC deal is completed
Marsh completed its previously agreed acquisition of HSBC Insurance Brokers, a wholly owned subsidiary of HSBC Bank, in the UK and other key markets in Asia and the Middle East on 1 April.
Interview - John Hennessy: Opportunity knocks
CNA Europe CEO John Hennessy may have only been to London once before taking up his new role, but he tells Jonathan Swift why he already feels at home in the local market.
Comment - Rehabilitation: Fit for purpose
This month's introduction of the government's fit note scheme may leave employers struggling, but Tony Urwin explains that any insurer that can come to their rescue could gain considerable commercial advantage.
Comment - ELIB: How much of a liability?
Phil Bird considers the controversial proposal to establish an employee compensation fund of last resort and questions the validity of some of the objections to it.
Biba countdown 2010: Know your Biba reps
Biba communications assistant Becky Pledge talks to Post about Friday songs and the challenges of being a 'Biba Babe'.
View from the top: In from the cold
If every cloud must have a silver lining then one of the very few benefits from the recession has been the renewed focus on the importance of relationships in business. In our own industry, much has been said recently about the need for brokers and…
Letter: Irish should be backing Quinn Group
If every cloud must have a silver lining then one of the very few benefits from the recession has been the renewed focus on the importance of relationships in business. In our own industry, much has been said recently about the need for brokers and…
From Facebook to sales book
As social media begins to shake off the stigma of being little more than a means to wile away time, Amy Ellis investigates whether, as some predict, 2010 will be the year this new medium becomes a quantifiable marketing tool.
See you later, aggregator
Industry commentators are predicting a crackdown on web aggregators - but will the sites' popularity with consumers beat expectations? Rachel Gordon reports
Learning to live together
Insurers and brokers may be feeling disillusioned with aggregators but learning to adapt to the model could prove profitable, explains Mathew Rutter.
Someone to watch over me
If the FSA's plans to create a consumer protection committee go ahead the insurance industry may find itself under intense scrutiny, writes Daniel Dunkley.
Appeal dismissed over high-speed crash in icy conditions
West Sussex County Council v Russell (Court of Appeal — 12 February 2010)
Mesothelioma liability transferred under Act
British Telecommunications v Royal Mail Group (Queen's Bench Division — 7 January 2010)
Expert witness application struck out but referred to Supreme Court
Jones v Kaney (Queen's Bench Division — 21 January 2010)
Biba Countdown 2010: the London Market View
With this year's Biba conference being held in the capital, Post thought it appropriate to ask a number of companies traditionally more associated with the London market why they are exhibiting and what they hope to get out of the event. This week we…
Biba Countdown 2010: The Claims Perspective
The Biba conference is well known as a gathering place for UK insurers to court brokers. But what of those associated with claims? Post asked the bosses of a number of these firms what their hopes are for this year's event, continuing with George Bentley…
Looking Back: Legal expenses insurance takes off
After five years in operation, DAS Legal Expenses is now writing approximately £100 000 in premiums every month and has achieved a profitable underwriting result in its last two trading years, according to Tony Holdsworth, DAS' general manager.
Looking Back - Government pulls plug on EL pilot
Insurers' battle to cut employers' liability claims costs hit another snag this week after the government finally pulled the plug on its fast-track pilot.
Penny black's insurance week
With the British Insurance Brokers' Association conference soon upon us, insurers will be dusting off their stands and finalising which hangover cures they will be offering weary delegates. But for one new CEO the conference has come at a bad time.
Bosses back Tory NI pledge
Axa UK group chief executive Nicolas Moreau and his Jardine Lloyd Thompson counterpart Dominic Burke were among 23 UK business leaders who publicly backed the Conservative party's pledge on National Insurance.
GI industry braces for battle with Ceiops
The Committee of European Insurance and Occupational Supervisors has been urged to lower its solvency capital requirement standard formula following the opening of the pre-application process for internal models.
Insurers gain the upper hand over aggregators
The balance of power is shifting away from aggregators and back towards insurers — a trend the latter should capitalise on while pursuing a more collaborative approach.