Brexit and results in the news; Tasker interviewed
The insurance news and Post exclusives of the past week, in case you missed it.
The Brexit debate has raised its ugly head again. Lloyd's chairman John Nelson has slammed the Leave campaign over "irresponsible" claims the UK would retain market access. And law firm Kennedys has published a research where brokers voice their concerns over overnight relocation to Dublin and 48,000 UK jobs at risk.
Jason Anthony, former managing director at OIM Underwriting, has launched MGAM Limited, a managing general agent aiming to reach £20m gross written premium in year one.
After an Egypt Air plane crashed in the Mediterranean with 66 people on board, it emerged that XL Catlin was the lead underwriter for the Paris-Cairo flight.
Ageas UK has reported a 99% total combined ratio (Q1 2015: 99.7%), driven by improved motor COR.
In the C-Suite this week, David Martin, director SME and corporate partnerships at Allianz, says removing the traditional market solution of average can help fight underinsurance. "SME customers will no longer have to face the shock of seeing their claims reduced because they got their estimates wrong," he says. Ageas CEO Bart De Smet sheds a light on the business opportunities offered by joint ventures, redefining the acronym as mergers and alliances.
In the interview, Tasker Insurance Group CEO Paul Tasker talks acquisitions and consolidation in the broking industry. "Of the good firms that remain, many of them are fiercely independent... But, whether that's not for sale to certain businesses or may be for sale to others, is a different matter, that's why we would always try to take a different approach."
The second part of our State of the Risk Management research is out. Ahead of the Association of Risk Managers conference, read what risk managers say about regulation, brokers, commissions and fees, and consolidation.
Our feature on outsourcing explains how insurers and service providers are sharpening up their practices to demonstrate a greater focus on customers, in the wake of the Financial Conduct Authority's thematic review on delegated authority. Our second long-form piece takes you to school, examining whether insurers can compete with the government's Risk Protection Arrangement.
In the blog section, Andrew Twambley, founder of Injury Lawyers 4 U and spokesman of Access 2 Justice, argues that the proposed whiplash reforms are cynical. John de Waal, barrister at Hardwicke Chambers, comments on a recent ruling regarding the aggregation of professional indemnity claims. And Nick Young, partner at DAC Beachcroft, shares his advice on how to prepare for the new rules on late payment of claims.
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