Post - 2010-04-29
Articles in this issue
UK market facing £600m hole with no Quinn
As much as £600m of high-risk motor business could return to the market if Quinn Insurance is not allowed to fully re-enter the UK, according to research by Consumer Intelligence.
Axa targets £150m with mid-corporate launch
Axa Insurance is targeting £150m in new business by the end of 2012, after launching its mid-corporate offering to market.
Ex-Hero boss plans start-up
Ian Meyer, a director at Capita Insurance Distribution, is poised to leave the firm to set up his own brokerage, Post has learnt.
Two aggregators relist Quinn as ban is relaxed
Confused and Compare the Market have allowed Quinn back onto their panels after the Financial Regulator gave Quinn Group the green light to write motor insurance cover for provisional driving licence holders in the UK.
Hiscox tops poll
Hiscox has been ranked as the best performing insurance brand according to the Reputation Institute's UK Pulse Report 2010, which measures corporate reputation among the general public.
CII revenues rise
The Chartered Insurance Institute has reported a 7% increase in overall revenues to £32.3m in 2009 (2008: £30.3m).
Thinktank questions IMF
Insurance thinktank, The Geneva Association, has issued a letter to the Central Bank Governors of the G20 in which it claims the financial stability tax proposal of the International Monetary Fund fails to adequately address the distinct nature of the…
School vouchers for charity
Many readers will recall that The Children's Trust was Incisive Media's selected charity for its Christmas Ball last year.
HSBC education practice survives Marsh cull
HSBC Insurance Brokers' education practice is the only division likely to be unaffected by job losses following its recent acquisition by Marsh.
Political parties respond to UKRC challenge over rehab policies
The three major political parties have responded to the UK Rehabilitation Council's challenge to provide a pre-election policy on reducing the cost of sickness absence.
Chartis CEO scans Europe for possible HQ location
Lex Baugh, president and chief executive of Chartis Europe Holdings, has refused to rule out any insurance centre on the continent as a possible headquarters for the newly established group.
Insurer trio ordered to pay up to £20m over faulty sofas
Axa, Chartis and Travelers will pay a share of up to £20m in compensation to thousands of consumers who received serious chemical burns from sofas manufactured in China.
Co-op chief hits out over asbestos
The head of general insurance at Co-operative Financial Services has accused the industry of shirking its responsibility by continuing to oppose the formation of a pool for asbestos-related employers' liability insurance claims.
Half of insurers unsure over MoJ RTA reform
Almost half of insurance firms remain unconvinced by the Ministry of Justice road traffic accident claims reform, according to new research.
Editor's comment: Could the UK be hung out to dry on 6 May?
As election day draws closer, a hung Parliament is becoming an increasingly likely scenario. Despite the efforts of the two traditional major parties and some media outlets, it appears the Liberal Democrats — barring a major disaster — are about to have…
Crawford agrees three-day deadline terms with firm
Loss adjuster Crawford & Company has agreed a deal with Jewellery Validation Services which it hopes will both cut claims costs and improve the journey for policyholders.
Junction takes on former Bradford & Bingley customers
Junction has acquired a customer base incorporating 140 000 policyholders from part-nationalised bank Bradford & Bingley.
Markel builds trade credit team with hires
Markel International intends to build its trade credit division on an excess-of-loss insurance offering after three more senior underwriters joined the insurer from Ace Group.
Governance consultation
The Central Bank and Financial Regulator in Ireland have announced the start of a public consultation on new corporate governance standards for banks and insurance companies.
Aerospace cost declines
The price of insurance for the aerospace industry looks set to continue to decline in 2010, for the fourth year in a row, according to Aon's Aerospace insurance markets outlook 2010 report.
Questgates appoints two
Questgates has strengthened its counter-fraud team with the appointment of Sally Maeers and Mark Woodhead.
C&G subsidiary launch
Congregational & General Insurance is set to launch a subsidiary MGA named Integra Insurance Solutions, generating £9m of extra homeowners income, according to the firm.
Kwik fit to hire 70
Insurance intermediary Kwik Fit plans to recruit 70 people at its Uddingston call centre. Kwik Fit said positions available include outbound sales and customer service jobs, as well as internet sales roles to support the company's growing online business.
Open GI hits two million
Insurance quotes generated by Open GI's e-aggregator solution have risen above two million per day.
Aviva to run more ads
Aviva is to run further press and radio advertisements advising businesses to seek help and advice through a broker when buying their business insurance.
Oxygen extends reach with Dubai broker move
Oxygen Insurance Brokers has agreed a deal with Dubai-based intermediary Brokerage World Solutions that will see it service its UK business currently handled by rival brokers including Jardine Lloyd Thompson, Marsh, and Willis.
Insurance websites escape VAT after HMRC loses appeal
Two insurance websites have been told they need not pay VAT after a five-year legal battle with Her Majesty's Revenue and Customs.
Samian eyes UK brokers after Safeonline deal
Independent Lloyd's broker Safeonline has acquired Samian Underwriting Agencies. The transaction, which completed on 15 April, saw all Samian's business and the four members of staff joining the 12-strong team at Safeonline.
Property claims - Conference news: FPA to reveal more accurate fire data
The Fire Prevention Authority is set to release the first of its new quarterly reports detailing large losses.
Property claims - Conference news: Bird warns over Solvency II requirements
Property insurers must be fully aware of the impact of Solvency II on their capital requirements, according to Groupama Insurances' director of claims Phil Bird.
Property claims - Conference news: Insurers insist ABI surge plan "fraught with danger"
Insurers have voiced concerns that the Association of British Insurers' idea for a surge plan in response to events such as widespread flooding is "fraught with danger".
Property claims - Conference news: Flood research facility is mooted by working group
Tim Humphreys, policy adviser at the Association of British Insurers, explained that an industry working group has begun exploring the possibility of setting up a Thatcham-style organisation to study flood damage.
Property claims - Conference news: Green 'sea change' must be considered
A change in consciousness towards climate change and wider green issues is driving a transformation in environmental standards and building design, according to Martin Townsend, director of BRE Environmental Assessment Method, BRE Global. BRE Global…
Property claims - Conference news: Property repair should be more proactive claims CWMC MD
The property repair sector could be more proactive in introducing sustainable building practices rather than being coerced into change by new regulation, the managing director of claims management consultancy firm CWMC has advised.
Property claims - Conference news: Council leader praises trade bodies over Cockermouth
Allan Haile, assistant director of economic development at Cumbria County Council, praised the collective support of the Association of British Insurers and the Chartered Institute of Loss Adjusters during the Cockermouth floods in November 2009.
Interview - Mike Webb: Computing the cloud crisis
The recent volcanic ash cloud has brought travel insurers such as Mondial Assistance under the microscope. Jonathan Swift talks to the firm's EMEA regional director Mike Webb about the impact of Eyjafjallajökull and why prices need to rise for a more…
Comment - Deafness claims: Have you heard?
Noise-induced hearing loss claim volumes show no sign of abating following a recent precedent. David Pugh explains how Lord Justice Jackson's proposals could at least stem the costs.
Comment - MOJ rules and rehab: In at the start
The introduction of new rules for low-value personal injury claims should see rehabilitation take a more central role in the claims process, argues Wilson Carswell.
Comment - MOJ Loopholes: An accident waiting to happen
Simon Gibbs examines the new rules governing road traffic accident claims and spots a number of flaws.
Biba is always full of nuggets
The British Insurance Brokers' Association always throws up some surprises. Snooker legend Steve Davis speaks to Post about why he will be there promoting professionalism in the industry.
View from the top - Personal injury claims:the 'social norm'
'Where there's blame, there's a claim' has become a common phrase. To the person on the street, it is a light-hearted term. To our industry, it is a demonstration that making a personal injury claim has become the 'social norm'. This is something we must…
Conflict of interest rules nothing new
I read with interest the article 'CILA fends off conflict of interest criticism’(www.postonline.co.uk/1601323) in relation to the proposed revision of the Chartered Institute of Loss Adjusters' guide to professional conduct. However, I am struggling to…
Seeing double
It has been claimed overlapping during vehicle hire could be costing the insurance industry millions of pounds. Edward Murray investigates the how much of an issue this really is.
Fire engineered building solutions - A design for life
Fire engineering methodology has allowed increasingly creative architecture. Sam Barrett looks at the concerns it holds for insurers and the need for them to be involved earlier in the process.
Fire regulations: The future for fire
Peter Barker explains how the new fire safety rules may impact insurers, and argues the case for a nationally recognised quality scheme for fire risk assessors.
Top 5 Post stories
The top five most popular stories on postonline.co.uk over the last week were:
RSA may extend intermediary education scheme after success
RSA's international boss has admitted that it could roll its 'making partner' broker education initiative to other jurisdictions after its success in Canada.
Former CII chief becomes FSSC president
Immediate past president of the Chartered Insurance Institute Trevor Matthews is the new chairman of the Financial Services Skills Council.
Centor triumphs at IIP awards
Carly Nunn, HR, IT and business projects manager at Centor, has won the Outstanding Individual Award at the first Investors in People London Special Achievement Awards.
New fraud manager for Allianz Retail
Graham Knight has been appointed as fraud manager for Allianz Retail, a new role within the division created to develop and co-ordinate the insurer's non-claims fraud prevention strategy.
Oxygen announces two new starters
Oxygen Insurance Brokers has appointed Victoria Wiltshire as senior client executive and Simon Rowlands as major account director.
RFIB Group makes two appointments
RFIB Group has appointed Charles Vermont as a broker in its specialty division and Jeannette Smith as associate division director to its North American division.
THB expands its London market team
Thompson Heath & Bond, has expanded its London market team.
Arista expands Midlands operation with new underwriter
Arista Insurance has hired an underwriter to help expand its Midlands operation.
CIFS appoints underwriting manager
Neil Payton has been appointed underwriting manager at Credit Indemnity & Financial Services.
Nexus hires two senior financial lines underwriters
Nexus Underwriting Management has hired two senior financial lines underwriters from Brit's Lloyd's Syndicate 2987.
QBE appoints two regional business heads
QBE has appointed two regional business heads to manage the ongoing development of its UK national underwriting network.
Sterling appoints head of commercial underwriting
Sterling Insurance Company has appointed Kevin Donoghue to the newly created position of head of commercial underwriting.
XL launches Dublin-based underwriting operation
XL Insurance has launched its new Dublin-based underwriting operation for middle market casualty business.
Guy Carpenter appoints new president and CEO
Chris McKeown has been appointed president and CEO of North America broking operations at Guy Carpenter & Company.
Marsh expands Maidstone operations
Marsh is expanding its Maidstone operations by appointing Steve Adams and John Bellingan to drive its new business development and client servicing strategy in the South-east.
50 years ago: Momentous year claim by Lumsden
Looking through Post's back catalogue paints a unique picture of more than 150 yearsof insurance news, as these highlights from past-articles reveal.
30 years ago: Dog Breeder stake bought by Generali
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from a past article reveals.
5 years ago: Insurer hope over football injury claims
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from a past article reveals.
Penny Black's insurance week
Penny is still hearing stories of the marathon journeys endured by a host of folk to get home during the recent airspace shutdown, one of which literally showed the "Dunkirk spirit" of the UK insurance market.
Post Magazine 29 April 2010
Highlights from this week’s digital and interactive issue of Post include Jonathan Swift’s interview with Mike Webb, EMEA regional director at Modial Assistance, to try and find out more about the impact of Eyjafjallajökull, and how it will impact on the…