Post - 2011-06-09
Articles in this issue
Post magazine – 9 June 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Post history - five years ago: Expenses market fights back
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.
Westinsure reveals SME insurer deals
Broker network Westinsure has secured a range of SME deals with insurers for members that currently transact more than £100m of business in the sector. The new deals are designed primarily to cover package and small combined products and offer a…
Interview - Paul Taylor: Relishing challenges
With a career that has spanned the globe, new Airmic chair Paul Taylor wants to push risk management up the agenda. He talks to Lynn Rouse about his upcoming tenure.
Solvency II: FSA: smaller firms must address all pillars of Solvency II
Small firms have been urged to make sure they address Pillars II and Pillars III of Solvency II.
Solvency II: FSA: eight out of 10 insurers have weaknesses over SII
The Financial Services Authority remains concerned that firms are spending too much time focusing on Pillar I of the Solvency II regulations and not enough time on Pillars II and III.
View from the top: Trust is our bedrock
Last month, I attended the funeral of a good friend, Damien Doran, who worked for Perkins Slade, a great broking firm in Birmingham. Damien was the best of our industry. A man you could rely on to do the right thing for his clients, respected by everyone…
Penny Black's insurance week
Last week, Penny caught up with the man of the moment, outgoing Towergate CEO Andy Homer. Modest as always, Mr Homer insisted that for luring Mark Hodges from Aviva he and his colleagues deserved a "pat on the back".
Solvency II: Evaluating structured products 'difficult'
Structured products are the most difficult assets to evaluate, according to BNP Parabis Cardif's head of analysis, research and development, Jean Christophe Barou.
M&A - market update: Coming together
Merger and acquisition activity is finally on the rise following a long period of stagnation. Daniel Dunkley looks at what is behind the increase.
Insurers in line for a £4.8bn windfall from referral fees
Motor insurers stand to pocket billions in extra income a year if a recommendation to retain referral fees is acted on, a leading personal injury lawyer has claimed.
Broker IPOs: Who dares wins
Broker IPOs keep the rumour mill active but very few actually occur. Rachel Gordon finds out why this is and looks at which companies are most likely to pursue the public route.
Law report: Dismissal due to dishonesty by doctor was right decision
This law report has been contributed by national law firm Berrymans Lace Mawer.
Contractors' exit for Paladin after 18 months
Montpelier-owned Paladin Underwriting Agency has exited its specialist contractors' account 18 months after its inception, Post has learnt.
Airmic 2011: Best practice guide to global compliance
Insurance buyers can now benefit from best practice advice to prevent them falling foul of the "labyrinth" of global insurance compliance rules. The guide, published this week, sets out key questions with which to road-test insurance programmes and help…
Airmic 2011: Risk blindness threat to company stability
Company boards' tendency to develop "risk blindness" in the pursuit of reward and opportunity can bring down otherwise successful entities overnight, according to new research by Cass Business School. The first findings of a two-stage study have…
Syndicates take legal action against Jackson promoters
Talbot Underwriting, Cathedral and EBI have taken legal action against AEG Live, the promoters of Michael Jackson's This Is It tour, as the Lloyd's syndicates upped the ante in repudiating a multi-million-pound claim.
Law report: Losses claimed must be included in detail from the start
This law report has been contributed by national law firm Berrymans Lace Mawer.
Blanc recruits Burns from Paymentshield
Ross Burns has joined Axa Commercial Lines as IT director from Paymentshield.
Cyber risks - Liability update: Privacy policed
Public and political awareness of cyber risks is on the rise as high-profile cases hit the headlines. Patrick Hill and Hans Allnutt review the effectiveness of existing cover options and detail unconventional developments.
Insurers in the dark over E-coli outbreak
A Lockton broker has warned insurers remain in the dark over their exposure to a widespread E-coli outbreak that has killed at least 22 people and left hundreds seriously ill.
Auto Restore unveils mobile repair offering
Car repair firm Auto Restore has claimed its new direct mobile repair offering targeted at consumers has the support of two of its key insurer partners — Allianz and Aviva.
PE-backed firm targets GI with ex-Rias head
Online financial services sales and marketing firm Media Ingenuity is in discussion with insurers to support a push into the general insurance personal lines space. It follows the recruitment of the former head of commercial management at Rias and head…
Giles wins two stars in customer service assessment
Giles Insurance Brokers has been awarded an 'outstanding' two-star rating in its first independent assessment on customer service.
Time to strap on the footie boots again
Sign up now for the 2011 Prince's Trust Insurance Cup.
Post history - 15 years ago: LEI named as 'promising alternative'
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.
Germany leads way in Solvency II preparation
UK insurers are better prepared for the upcoming Solvency II regulation than firms based in France and Italy, according to new research.
Broker focus - lead generation: follow the leader
Many brokers would not be able to survive without high volumes of lead generation but what form produces the best results? Trevor Cutts assesses the options and factors to consider.
Equity Red Star cuts 27 underwriting and distribution jobs
Equity Red Star has made 27 staff redundant following an eight-week consultation period, Post has learnt.
Kennedys opens ninth international office
Dispute resolution law firm Kennedys has created an Irish operation through a merger with Dublin firm O'Hare O'Connor Walshe.
Solvency II - Post implementation: Capital consequences
In the second instalment of a two-part article, Steven McEwan examines what will happen if the all-important capital requirements under Solvency II are breached.
Post history - 30 years ago: Iraq conflict sees shipping salvage soar
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.
Solvency II: 'Glue' is needed with data analysis
Securities service providers offer "the glue" to bring all the necessary end-to-end information together to help insurers make the best decisions around their Solvency II asset management strategies.
Law report: Disagreement over late changes must be resolved
This law report has been contributed by national law firm Berrymans Lace Mawer.
Jelf on course to be debt free by Q3 2012
Jelf chief executive Alex Alway has said the broking group is on course to be debt free by quarter three of 2012 — after the company revealed a pre-tax profit of £800 000 for the half year ending 31 March.
Editor's coment: Restoring good faith
After more than a year in gestation, Airmic finally unveiled its new model clause on Tuesday at its annual conference in Bournemouth.
News analysis - Mark Hodges' move: A little bit of history repeating
With the shock news that Mark Hodges is to join Towergate, Daniel Dunkley reports on the market's reaction and what this means for Aviva and the consolidator.
Solvency II: Insurer head Barou warns of x-ray vision approach to funds
It is almost impossible to have an "x-ray vision" of how your mutual funds will perform when it comes to assessing embedded risks in the new Solvency II environment.
Airmic 2011: New contract clause seeks to prevent claim avoidance
Inadvertent omissions in underwriting information will no longer allow insurers to walk away from claims. At least, that is the hope of corporate buyers preparing to insist on the inclusion of a new model clause in contracts unveiled on Tuesday at the…
Career development & CSR: CILA and III to mutually recognise qualifications
The Chartered Institute of Loss Adjusters and the Insurance Institute of Ireland have reached an agreement to formally recognise each other's qualifications to promote closer co-operation and encourage professional development both in the UK and Republic…
L&G boosts broker force as motor return mooted
Legal & General has revealed plans to recruit a 15-strong team of regional sales & marketing experts to support brokers and intermediaries "on the ground", as it prepares to diversify into motor, pet and travel. Duncan Finch, L&G's managing director for…
Career development & CSR: BGL's rugby session success
Budding rugby players from clubs in Peterborough, Coventry and Sunderland have taken part in a training session with former England rugby players, Austin Healey and Will Greenwood, as part of BGL's super skills challenge.
Post history - 50 years ago: Insurer move to practice as it preaches
Looking through Post's back catalogue paints a unique picture ofmore than 150 years of insurance news, as this highlight from 50 tears ago reveals.
Career development & CSR: Himalayan trek challenge win
Staff from loss adjuster Questgates beat three other teams and raised £12 000 in The Prince's Trust Himalayan Action Insurance Challenge.