Post - 2011-05-19
Articles in this issue
Biba 2011: Biba renews professional indemnity accredited broker panel
The British Insurance Brokers' Association has renewed its professional indemnity accredited broker panel. Biba's three accredited brokers — Lockton Companies, Howden Insurance Brokers and Towergate Professional Indemnity — will continue to provide cover…
RSA plans to 'dominate' marine after niche buy
RSA's acquisition of niche marine broker Noble Marine is part of a plan to dominate the UK marine market, according to marine director Richard Turner.
Validus investigation unit spots £1m of fraud in first two months
A new claims investigation unit set up by Validus has found nearly £1m of suspicious motor claims for insurance clients in its first two months of operation.
Career development & CSR: First six BGL apprentices win full-time jobs at Fusion's contact centre
The first six young people to win places on an apprenticeship scheme launched last year by BGL have secured full-time jobs at its Sunderland-based Fusion contact centre.
Giles rebuffs claim that growth dependent on acquisitions
Giles Insurance Brokers has stated its growth "does not depend on acquisitions" as it recorded an operating loss of £6.5m (2009: £8.4m profit) for the year ended August 2010.
Career development & CSR: Ask the expert
What would be the essential pieces of advice you would offer a job seeker at the moment?
News analysis - AJG acquisition: Deal or no deal
After a number of stalled bids from a variety of firms, Heath Lambert has been bought by international giant Arthur J Gallagher. Mairi MacDonald follows the timeline of the deal and looks at what the consequences may be.
Crisis Survivor buyers undeterred by debts
A broker has shown interest in failed risk management specialist, Crisis Survivor, as creditors reveal the business owes £300 000.
Aviva's BIG hits 2000 members in two years
Aviva's Broker Independence Group has grown its membership base by 24% over the past 12 months and expects take up to continue.
Post history - Five years ago: Colosso gives staff advice on takeover
Looking back through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this article from five years ago reveals.
Go Compare slips down the rankings
Go Compare has fallen to 11th place in a study of the most visible insurance websites, published by search engine research firm Greenlight.
Career development & CSR: Barbon tackles homelessness with 1% of profit ambition
Barbon Insurance Group aims to raise the equivalent of 1% of its profits over three years in support of UK homeless charities, as part of a new corporate social responsibility strategy.
Editor's comment: All action, no talk
Mergers & acquisitions have definitely dominated the insurance headlines this week. Nothing unusual in that — except, for once, it's been more a case of all action and little talk, rather than the reverse, as is so typically the case. But it also remains…
Mentoring - risk managers: Passing the torch
The process of mentoring, where experienced people give advice and encouragement to younger professionals, can be hugely beneficial and cost virtually nothing. Elaine Heyworth details a new scheme about to launch to assist up-and-coming risk managers.
Barbon trading platform on track for a summer launch
Barbon Insurance Group is now "weeks away" from launching its wholesale broker online trading platform via property business Keelan Westall.
Damage management - Surge: Surging ahead
Recent surge events have shown insurers are getting better at coping with large numbers of claims but there is still room for improvement. Sam Barrett finds out what could make a crucial difference the next time an extreme event occurs.
Aviva to attack motor with online-only brand
Aviva is gearing up to challenge multi-brand motor insurance giants Royal Bank of Scotland Insurance and Admiral on the aggregators with the launch of a new internet-only brand.
Law report: Defendants alerted to ongoing liability
This law report has been contributed by national law firm Berrymans Lace Mawer.
Consumer insurance reforms will make it harder to turn down claims
The first changes to consumer insurance legislation in more than a century will prevent insurers from "hiding behind" unrelated errors to avoid paying claims.
Solvenct II - Investments: Straight to the heart
Solvency II is about much more than simple regulation and is already preoccupying chief investment officers. Ciara Searle examines the implications it will have for asset allocation and fund transparency.
Law report: An inflammatory judgment on findings of fire fraud
This law report has been contributed by national law firm Berrymans Lace Mawer.
Biba 2011: Brokers back Biba and IIB as merger revealed
Moves by the British Insurance Brokers' Association and the Institute of Insurance Brokers to merge have been overwhelmingly backed by brokers.
Allianz front-end fraud focus helps save £50m
Allianz Insurance is on track to identify £50m of insurance fraud in 2011, according to UK chief executive Andrew Torrance — boosted by work undertaken by the insurer in private car application fraud.
Perseverance prepares to exit UK insurance market
Perseverance, the Gibraltar-based former owner of KGM, is set to dispose of one of its remaining assets in the UK insurance market, Post understands, following negotiations to sell its stake in One Answer Network.
Law report: Provoking an assault not contributory negligence
This law report has been contributed by national law firm Berrymans Lace Mawer.
Affinity partnerships: Perfect service
What makes a truly successful affinity partnership? Mike Caidan looks at how this market is changing, demands are rising and discusses how proactivity, innovation and flexibility are vital.
Biba 2011: Restructure ends as 114 Axa jobs go
Axa Commercial chief executive Amanda Blanc has revealed the restructure of the firm is "complete", including the identification of 114 senior management staff who will leave the business. As a result of the swift changes, Axa branches across the UK are…
Zurich sees engineering business grow by 50%
Zurich's engineering insurance business has grown by 50% to £15m gross written premium in the past two years, with the ambition to take it to £25m over the next three to five years.
Post history - 20 years ago: CU is first to insure a UK astronaut
Looking back through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this article from 20 years ago reveals.
Mitsui steps up mid-market regional push
Mitsui Sumitomo is poised to open its doors in Birmingham as part of its regional mid-market push, ahead of the unveiling of its new property-led product for this target segment in quarter four. The news follows last month's four-strong recruitment in…
Penny Black's insurance week
Another year, another Biba conference; brokers nurse their hangovers, hacks try to recall the juicy story slurred in their ear at 2am, and insurers vow to return to the exhibition hall next year with a bigger stand than Aviva, nicer cup cakes than Zurich…
Schemes: Scheming for success
Schemes business requires significant investment to make it work and underwriters are not prepared to tolerate poor profitability. But, as Jane Bernstein reports, the benefits are many and it remains attractive to brokers.
Post history - 30 years ago: Preservatives cancer risk fear explored
Looking back through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this article from 30 years ago reveals.
Post history - 50 years ago: Time factor a worry for travel insurers
Looking back through Post's back catalogue paints a unique picture of more than 150 years of insurance news, as this article from 50 years ago reveals.
Simia run-off will have 'little effect'
The Solicitors Regulatory Authority has downplayed the effect of the Solicitors' Indemnity Mutual Insurance Association's decision to go into run-off.
Greenwoods tackles fraud
Greenwoods Solicitors has become the first law firm to join the Telecommunications UK Fraud Forum, a body for the exchange of information and promotion of united efforts against such fraud.
View from the top: A very bad year
Despite reinsurers' initial talk that the Australian floods and the New Zealand & Japanese earthquakes were earnings — not balance sheet — events, and there would be no impact on rates, the chatter has changed recently, with some now actively hinting at…
Hill Dickinson merges practices after strategic review
Hill Dickinson has merged its insurance and professional risk practices following a strategic review of the business. As a result of the changes, Ruth Lawrence, who joined the Liverpool-headquartered firm 20 years ago as a solicitor, assumes the role of…
Biba 2011: Aon president dismisses contingent commission concerns
Aon president Greg Case has stressed that the issue of contingent commissions in the US was never a major issue as the broker instead focuses on the "transparency" it offers its clients.
Postbox: Backing reforms was not taken lightly
Your leader of last week 'Are some more equal?', coupled with the comments reported from Elite Insurance over the ABI's support for the recommendations of the Jackson Review, highlights the delicate balance a trade body needs to strike between…
Consumer insurance reforms will make it harder to turn down claims - Insurance News Now – 19 May 2011
Post news editor Mairi MacDonald outlines this week's major general insurance stories including how, according to MP Jonathan Evans, the first changes to consumer insurance legislation in more than a century will prevent insurers from “hiding behind”…
People moves - 19 May 2011
A round-up of people moves and new appointments in the industry, as featured in the 19 May 2011 edition of Post.