Post - 2010-11-18
Articles in this issue
Comment - redundancy: Old skills, new start
Being made redundant when you've been working in an industry for several decades is tougher than when just starting out. Trevor Brittain offers sage advice about exploring new avenues after finding himself in such a situation.
Penny Black's insurance week
Penny dragged her aching bones off to the world-famous Pineapple Dance Studios in London's Covent Garden for a spot of Latin dancing with the ladies of SSP and a select few from the insurance sorority.
Solvency II - Data directories: An essential directory
Rob Stavrou argues that centralised data directories should form an integral part of implementing Solvency II, not only to fulfil regulatory requirements but to make business operation easier too.
Lark and Bollington spared in Groupama consolidation
Groupama this week insisted its specialist commercial broking operations will not be subjected to the same consolidation and rationalisation that are set to impact other subsidiaries.
Engineering - Technology: Powering change
Fast-paced technological developments in the energy field are presenting challenges for insurers but, as Neil Clutterbuck explains, the industry is finding ways to stay ahead of the game.
Personal injury - Government reform: How far will they go?
With Lord Jackson's and Lord Young's reports both being delivered in close succession, the question is now whether or not the government has the appetite to deliver change to the personal injury space with some or all of the recommendations being…
Industry bodies heartened by private sector potential
The Association of British Insurers and British Insurance Brokers' Association have welcomed the prospect of greater private sector investment in flood defences following the government's decision to cut the budget.
Towers aims to lead non-life consultancy
Towers Watson has outlined its ambition to become "number one" in the UK non-life consultancy market following its acquisition of EMB.
LV boss pledges growth to £1bn by 2015
LV direct managing director Selwyn Fernandes has pledged to grow the business's gross written premium to £1bn by 2015, despite the competition generated by the aggregators.
Postbox: Computers came earlier at Aviva
I read the recent article on early computers with interest.
PSTF: Senior execs at IT turning point
Jem Eskenazi, chief information officer at Groupama, told delegates the advent of technology in the insurance market was "nothing new", but added senior management are more receptive than ever to embrace technology.
Interview - Wayne Felton: Building interest
If building firm Mitie's entrance into the insurance repair market had not caused enough stir, the decision of its largest rival, Rok, to enter administration has raised even more interest in Mitie's plans. Leigh Jackson met the firm's property solutions…
PSTF: Allianz warning over long-term IT problems
A senior insurance technology specialist has criticised the effect that outsourcing is having on the pool of IT talent within the UK market.
Zurich comes under fire for 'bungled' staff consultation
Zurich has been accused of bungling the handling of its staff consultation over potential redundancies among senior and middle managers.
Law report: Limit to damages claim enforced to avoid conflict of council care duties
This law report has been contributed by national law firm Berrymans Lace Mawer.
Frost vows to stabilise prices following DAS losses
Recently appointed DAS head of underwriting Matt Frost has vowed to stabilise prices in a bid to revive the fortunes of the legal expenses insurer.
PSTF: Technology was vital to LV's resuscitation
Technology was "the single biggest obstacle to success — and the biggest enabler" in turning around the insurer's fortunes, according to LV's general insurance managing director.
Once-in-a-decade op
The consultation into the implementation of Lord Justice Jackson's proposals is the best window of opportunity the industry has had for more than 10 years to influence change.
Rok closure could boost small contractors
The fall-out from the closure of Rok's maintenance business could lead insurers to turn to smaller building repairers in the future, according to one such firm.
Iprism valued at £50m as PE firm takes a stake
Online commercial comparison portal Iprism has attracted private equity backing, in a move that values the business at £50m.
Ceiops' IMD delay raises hopes over review outcome
The five-month delay of the Committee of European Insurance and Occupational Pensions Supervisors' submission to the European Commission on the revision of the Insurance Mediation Directive demonstrates the complexity of opinion on the subject, according…
Roundtable - mergers & acquisitions: Cautiously navigating the upturn
Recession and recovery, global ambition, super-mergers, market appetite, pricing, marrying business cultures and managing brokers' expectations were all topics of deeply involved discussion as a panel of industry big-hitters jousted at a recent Post and…
Torrance slams new entrants over rates
Allianz UK chief executive Andrew Torrance has bemoaned the short- sightedness of some of the recent commercial entrants for keeping rate rises in check.
Hardy still open to Beazley negotiations
Hardy's chief executive has said the insurer would be willing to discuss an improved offer from Beazley, despite the latter's threat to withdraw its renewed offer of 330p per share in cash after it was rejected.
PSTF: Customer advocacy is key in social media age
Insurance companies need to stop chasing the pack when it comes to mobile technology, but do it in a joined-up way and pay more attention to the power of customer advocacy in the social media age.
PSTF: Maintenance contracts trap insurers in outsourcing deals
Insurers often find it hard to break free from longstanding outsourcing relationships because they are built on maintenance- based contracts they fall into.
Postscript: Five years ago: Fifa to pilot wage scheme
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from five years ago reveals.
PSTF: Sharing knowledge offers mutual benefits
The Post Strategic Technology Forum was launched last week by chairman and Post editor in chief, Anthony Gould.
Ageas keen to developKwik Fit's niche brands
Ageas UK chief executive Barry Smith has pledged to retain and expand Kwik Fit Insurance Services' niche operations as it seeks to widen the group's overall product footprint.
Momentum aims to help broking start-ups
A former managing director at Oval is set to target disgruntled account executives within consolidators through the launch of a start-up.
Comment - flooding: Passing the buck on floods
There is demonstrable lack of interest on all sides when it comes to improving buildings' flood defences and risk profiles. The industry, government and homeowners all need to work together, argues David Walker.
Legal update - Occupiers' liability: No respite for the reckless
Various judgments over the past six years have laid the foundation for courts to back the coalition government's conviction that the state and private land owners should not be held responsible for the reckless risk taking of individuals while on their…
Postscript - 30 years ago: Norwich Union set to expand
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 30 years ago reveals.
Law report: Judicial uncertainty leads to strike-out application dismissal
This law report has been contributed by national law firm Berrymans Lace Mawer.
Editor's comment: Commercially viable
The news that Iprism has secured private equity backing, which effectively values the business at £50m, is further evidence that the future of online commercial trading has finally reached its 'tipping point'.
Career development: Ask the expert
I've been trying to recruit for a couple of positions for more than three months but am having trouble securing the right candidates. Would I be best waiting for the new year?
View from the top: Accentuate the positive
Simply put, the public doesn't trust insurers. The industry has to improve the way it handles claims to overcome its bad image.
PSTF: Swiftcover brand boosted by non-insurance Iphone app
Swiftcover has strengthened its brand through placing itself at the "forefront" of the Iphone app industry according to a senior figure at the firm.
Career development & CSR: City Poppy Day plaudits
The Lloyd's branch of the Royal British Legion has confirmed that its final total raised for the London Poppy Day is £240 000 — exceeding the 2010 target by £90 000.
PSTF: Thunderhead boss: learn from 'disruptive' tech
The insurance market should seize the potential of "disruptive" technologies, rather than simply focus on the "enablers" to tap into their customers of the future.
Law reports: Liquidated damages clause not a penalty for equal parties
This law report has been contributed by national law firm Berrymans Lace Mawer.
Postscript - 10 years ago: UP offers veggies a discount
Looking through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 10 years ago reveals.
Career development & CSR news: 'Superb' broker duo scoops top claims service accolade
Two claims handlers at Stirling-based broker Denis O Brown & Associates have been jointly honoured with an award for their customer service and professionalism.
PSTF: Take risks with cloud computing
Reducing the cost of failure in the IT arena by adapting new technology will enable companies to take more risks and be more innovative, as well as reducing costs.
London authorities seek out joint motor insurer
A group of local London authorities has kicked off a tender process to establish a joint scheme for the insurance of council fleet vehicles.
Industry relief as plans to reform VAT exemption dropped
The European Union's decision to drop its planned reform of the Europe-wide VAT exemption of insurance and other financial services should be a relief to UK insurers and brokers.
Career development & CSR news: Brit honours the country's brightest volunteer coaches
Brit Insurance has honoured the UK's finest school sports development volunteers.
Personal injury - Culture change: Care, not cash
A perceptual shift must occur within the industry as well as across the public and the legal profession to replace cash in personal injury claims with care, argues Andrew Pemberton. Without it, the UK will struggle to escape the blame-and-claim culture…
Postbox: Qualifying search strategies
Regarding the article "Insurers are failing to properly utilise Google", based on research from Greenlight's July quarterly sector report covering search in insurance, I would like to qualify the following in relation to paid search and bidding…
PSTF: Regulation holds back adoption of 'utility computing'
The biggest obstacles to the insurance market adopting "utility computing" are standards and regulation.
Post Magazine – 18 November 2010
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.