Post - 2011-03-03
Articles in this issue
Post Magazine – 3 March 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Superbrands insurer rankings revealed
Allianz has set its sights on rising up the rankings next year in an annual league table of the UK's most successful brands after climbing 111 places to 219.
New rating factors needed after European gender ban
Insurers will have to look at additional rating factors now that gender is not an option, following the European Court of Justice ruling that a person's sex can no longer be used to calculate insurance premiums or annuity rates.
Prior reserve release staves off RSA underwriting loss
Prior year reserve releases of £267m have helped insurer RSA avoid posting an underwriting loss of £29m for 2010.
Markerstudy buy boosts bold ambition in mobile repair
Markerstudy Group has set its sights on becoming a "major player" in the windscreen repair market following its acquisition of Auto Windscreens.
Solicitor ARP audit after cover under-reporting
Solicitors' professional indemnity insurers could escape an increase in their exposure to the assigned risks pool following an audit of their premiums.
LBG sees slight rise in pre-tax profit
Lloyds Banking Group's general insurance business pre-tax profit in 2010 was £372m marking an increase of 1% on the 2009 result (£367m).
Hiscox targets political unrest for opportunities
Hiscox is looking for underwriting opportunities arising from the political unrest in the Middle East and North Africa.
Allianz launches repairer forum
Allianz has confirmed the launch of a new repairer forum to provide two-way consultation between the insurer and its network of suppliers.
Biba to take FSCS fight to the House of Commons
The British Insurance Brokers' Association, the Association of Independent Financial Advisers and the Association of British Insurers are set to discuss Financial Services Compensation Scheme levies at the House of Commons next week.
Kidnap & ransom policy rise likely in Middle East
Insurers will see an uptake of kidnap & ransom policies that contain repatriation costs if the civil unrest in the Middle East and North Africa continues, Chubb has claimed.
RBSI CEO Geddes reveals plan to float in tranches
Royal Bank of Scotland Insurance chief executive Paul Geddes has revealed that if it decides to go down the initial public offering route in 2012, this will probably be done in a number of tranches, rather than one offering.
Brit takeover to complete within two weeks
The takeover of Brit by Achilles is "ahead of schedule", with the deal expected to close in the next two weeks.
SAGB shells out on deal
The Shellfish Association of Great Britain has agreed an exclusive deal with broker A-One Insurance Group and underwriter David Oliver Associates to provide commercial cover for its members.
JLT extends 'firepower' to £350m as bolt-on buys beckon
Jardine Lloyd Thompson has extended its unutilised debt facility beyond the £200m mark in order to fund new acquisitions.
CILA to target skills gap with claims qualification
The Chartered Institute of Loss Adjusters is set to launch a claims qualification targeting back office claims managers, to fill what it perceives as a skills gap in the market.
Allianz: double-digit rate rises needed
Allianz is set to apply rate increases of up to 10% on its commercial and retail books to return to profitability.
RDT: cloud computing aids quick products
Insurance administration solutions specialist RDT has claimed the launch of the first rating engine using cloud technology will enable insurance providers to take products to market via aggregator sites more quickly and cheaply.
Industry begins counting cost of New Zealand quake
The insurance industry has begun estimating its exposure to the 6.3 magnitude earthquake that shook Christchurch, New Zealand.
Court of Appeal ruling could see end of 'expert shopping'
A Court of Appeal judgment handed down last week could put an end to 'expert shopping' in personal injury and other claims, reducing settlement costs for insurers.
MIB to appeal Jacobs ruling
The Motor Insurers' Bureau has been granted leave to appeal a landmark Court of Appeal decision allowing a British holidaymaker injured in a motor accident in Spain to claim against it.
Howden targets energy and marine markets
Howden is planning to enter the offshore energy and marine markets in a bid to diversify its international book of business.
Editor's comment: No-claims discount: is it a goer in household?
This was the question posed by Axa finance director Jean Drouffe in last week's Post, and follows a number of recent musings by those in the general insurance market about how to counteract the growth in household claims due to events that can be linked…
AA sets out strategy for push into commercial market
AA Insurance is gearing up to expand its commercial insurance offering by tapping into the group's customer base across its many different trading channels.
Interview – Simon Douglas: the attraction of AA Insurance
Simon Douglas, director of AA insurance, previously worked in the life & pensions and private medical markets. He talks to Mairi Macdonald about what attracted him to the debt-laden business and the challenges it faces.
Penny Black’s insurance week
The only thing Penny loves as much as the insurance industry is the glitz and glamour of Hollywood, so she was particularly pleased when the world of underwriting collided with the Oscars last week.
Roundtable: Is there a cross industry solution to rebuilding costs?
The current approach to rebuilding costs can lead to both underinsurance and ill-suited reinsurance programmes. Post gathered together a host of industry figures to debate whether a cross-industry solution could be found. Leigh Jackson reports.
Chilean earthquake – insurance lessons learnt one year on
Lessons learnt from the massive earthquake that struck Chile 12 months ago should facilitate the future handling of complex business interruption claims, says Jenny Larner.
View from the top: an updating challenge
Much has changed during my time in the broker market, but the one thing that hasn’t is that insurers still need to get their car insurance rates to the broker software houses some six weeks in advance. It will then be a whole month before we can change…
Postbox: staying ahead of the game
The recent article ‘Brokers unprepared for household fraud’ concerning a Legal & General report raised some interesting issues for the broking community.
Broker focus – private equity: the start of a broader movement?
2011 has already seen one major broking private equity deal involving Towergate. Rachel Gordon assesses whether this is likely to be a one off, or the start of a broader movement within the intermediary market.
Investing in the profession - claims: a focus on training
There has been a lot of talk about professionalism in the claims sector. But while those operating in the field have long been granted access to significant training resources, what about those in the back office? Daniel Dunkley looks at whether things…
Law report: broker failure to inform over risk requirements costs firm
This law report has been contributed by national law firm Berrymans Lace Mawer.
European Court of Human rights states findings on MGN application
This law report has been contributed by national law firm Berrymans Lace Mawer.
Court of appeal disallows very late amendments in MBO case
This law report has been contributed by national law firm Berrymans Lace Mawer.
Career development & CSR: Davies report pushes for increase in female directors
Lord Davies’ report Women on boards has recommended that FTSE-100 companies increase their proportion of female board directors to 25% by 2015.
Career development & CSR: Six rugby clubs rewarded with coaching
QBE has rewarded six rugby clubs with the opportunity to train with three top premiership players through its sponsorship arrangement with premiership rugby.
Career development & CSR: MCE seeks out graduates
MCE Insurance is seeking graduates to expand and strengthen its workforce.
Career development & CSR: the death of the working wardrobe
Television series such as the popular Mad Men give viewers a unique glimpse into the bygone era of office wear. Suits and ties for men, dresses for women - no exception.
Post history – 50 years ago: NCD pioneer reaps benefit of reinsurance
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 50 years ago reveals.
Post history – 30 years ago: shareholder problems alleviated
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.
Post history – 15 years ago: Bomb blast buildings uninsured
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 15 years ago reveals.
Post history – 10 years ago: Allianz set to buy major life insurer
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.