Post Magazine – 24 February 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
This week the Post team reports on how Axa is considering awarding no-claims discounts to household insurance customers to encourage them to take more responsibility for preventing weather-related losses and improve its book’s profile.
Jean Drouffe, Axa UK finance director, said that the insurer wants to see its household book improve throughout 2011 as a result of 20% to 30% rate increases and risk management measures.
In other news, the efforts of insurers in settling claims from the September earthquake in Canterbury, New Zealand, are “back to square one” after this week’s 6.3 magnitude earthquake, according to the chief executive of Cunningham Lindsey, New Zealand; LV general insurance managing director John O’Roarke has revealed the task of turning around the business he joined in 2006 is “90% complete”, as the revealed it 2010 results; Groupama Insurances chief executive Francois-Xavier Boisseau, has claimed the December freeze ought to have been “a wake up call” for the insurance industry and claimed that the Association of British Insurers’ £1.4bn loss estimate is an “underestimation”; and commercial insurance policies that exclude political risks are likely to come under scrutiny by courts in the Middle East following civil unrest in the region.
Also in this issue, Axa CEO Paul Evans talks to Post editor Jonathan Swift following the splitting of Axa UK’s personal and commercial businesses, and explains how he plans to provide brokers with great service, products and relationships.
The number of insurers looking to grab a piece of the SME directors’ and officers’ market shows no sign of slowing. In a D&O focus, Post reporter Amy Ellis looks into the attraction of a market still hampered by soft rates and over-capacity.
Read the issue online.
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