Articles by Chinwe Akomah
ABI welcomes OFT referral as GTA rate review leaves cost unchanged
The Association of British Insurers welcomed the Office of Fair Trading's decision to provisionally refer the study into vehicle repair services to the Competition Commission criticising the exaggerated costs insurers pay for credit hire cars.
RSA appoints new PL boss and finance director
RSA has promoted Jill White to personal lines broker managing director and Antony Erotocritou to finance director, personal.
Credit Hire Organisation boss discourages potentially costly Competition Commission investigation
The Credit Hire Organisation has said that referring the motor insurance study to the Competition Commission would be similar to using a "sledge hammer to crack a nut" and could cost millions of pounds to solve the "dysfunctional vehicle repair service"…
OFT to refer credit hire study to Competition Commission
The Office of Fair Trading has provisionally decided to refer the private motor insurance market study to the Competition Commission after finding that insurers were too "distracted" with lowering costs and pushing up rivals' premiums to provide…
AA policyholders keep no claims discount in uninsured driver crashes
The AA's panel of insurers has agreed that the broker's policyholders will not lose their no-claim discount or excess following a crash involving an uninsured driver.
Italian quake losses to hit £560m
Estimates for insured losses from the Italian earthquakes could be as much as £558.5m, it has been suggested, after a second disaster rocked north west Italy yesterday.
Few Brits buy travel insurance for holidays, Hiscox finds
Britons are opting not to buy travel insurance for their holidays, research by insurer Hiscox has revealed.
Allianz renews GAB Robins, Cunningham Lindsey and Davies contracts
Allianz Insurance has renewed contracts with GAB Robins, Cunningham Lindsey and Davies for another two years.
Giles snaps up ex-Broker Network director Mageean
Giles has appointed Bernard Mageean as managing director of underwriting and wholesale, effective from the end of August 2012.
Hyperion IPO or sale in next two years, analysts predict
Panmure Gordon analysts have said that an IPO or trade sale of Hyperion is likely in the "next year or two".
Hyperion IPO likely in late 2013, BP Marsh boss says
The chairman of venture capitalist BP Marsh, which has a 19.4% stake in Hyperion, said it is unlikely the insurance business will float until after Q2 2013 and warned the firm to wait until economic conditions improve.
Novae Zurich reinsurance CEO and CUO quit
Two bosses at Novae Zurich's reinsurance division have resigned.
The AA and Direct Line provide 'poor' online customer experience, survey finds
UK home and motor insurers like Direct Line and The AA are potentially ruining opportunities to acquire new customers because of a poor online user experience, a survey has found.
Davies hires L&G boss Andy Webb for new COO role
Claims management company Davies has recruited former Legal & General chief operating officer Andy Webb, pictured, for the same role to start on 1 June.
BMS launches mobile phone app
Specialist insurance group BMS has launched an iPad and iPhone app called BMS Today providing daily insurance and reinsurance news.
Direct Line Group to pay shareholders £500m dividend
Direct Line Group directors have declared an interim dividend in an aggregate amount of £500m.
Insurers to revamp and re-price products for Solvency II
An increasing number of insurers plan to re-price and reorganise their product mix in response to Solvency II, a Deloitte report has found.
Cobra extends takeover deadline
Cobra has extended the takeover deadline to 7 June as it continues to liaise with Alto Intermediary.
Axa admits to Ted Baker policy wording 'ambiguity'
Axa has admitted that there was "some ambiguity" in the wording of clothing retailer Ted Baker's commercial combined policy, despite rejecting the company's claim for theft by an employee.
Arista boosts profit to £1.3m in 2011
Commercial lines managing general agent Arista Insurance posted an EBITDA profit of £1.334m during 2011, up from £683,000 in 2010.
RSA teams up with aquaculture underwriting facility
RSA has entered into a partnership deal with Global Aquaculture Insurance Consortium, a specialist aquaculture insurance underwriting facility administered by Lloyd's broker Alwen Hough Johnson.
Retailer Ted Baker claims victory over Axa in employee theft case
British clothing retailer Ted Baker said it has won a "critical" ruling in the High Court in its dispute with Axa.
Aviva lends West Yorkshire Police £104m to revamp facilities
Aviva Commercial Finance has handed over more than £104m of senior debt to fund two new West Yorkshire Police Authority divisional headquarters, custody suites and a specialist operational training facility.
Lloyd's braces for euro collapse
Lloyd's of London is readying itself for the collapse of the euro and has already reduced its exposure "as much as possible".