Broker
Driving without insurance conviction sparks 131% premium increase
Motorists caught driving without insurance can expect to see their premium rise by 131%, an increase that is higher than those triggered by any other driving conviction.
Lorega selected by Gallagher Heath to fast-track property claims
Gallagher Heath has agreed to white-label Lorega’s range of loss recovery insurance products after unveiling the launch of Gallagher Heath Assist.
UK credit rating downgrade could be blessing in disguise for insurers
The loss of the UK’s AAA rating with credit rating agency Moody’s is unlikely to impact the standing of UK insurers, according to industry sources.
Investing in the Profession: Three-star rating for Arthur J Gallagher
Arthur J Gallagher International has been awarded the three-star Investor in Customers award following an independent assessment that saw the firm achieve an overall rating of eight out of ten in each of the four categories for its Gallagher Heath team.
Market Moves: Markel, Axa and Argo head the recruitment trail
Insurers hit the recruitment trail hard last week after recent broking dominance, with notable hires at Markel, Axa and Argo. It was a quieter few days for those on the periphery of the industry, although some of the slack was inevitably picked up by the…
Expertise-in-Action: Video: The importance of data validation
With data validation increasing in importance, Post sat down with Zurich’s director of personal lines, pricing and underwriting Darren McCauley to discuss this trend.
Expertise in Action: Pricing: Looking for support
With brokers calling on insurers to share more information and provide greater practical assistance, how can both parties – and their clients – benefit from better collaboration?
Expertise in Action: Pricing: A Perfect Storm
The continuing economic downturn and prevalence of large losses make this a difficult period for the insurance industry – but the sector is demonstrating its resilience.
Insurers to benefit from public sector framework worth £850m
A national framework agreement, potentially worth £850m over four years to the insurance sector, has been announced by the Government Procurement Service and national procurement consortium, the Pro 5 Group.
Post magazine – 28 February 2013
The latest edition of Post magazine is now available to subscribers as a digital and interactive e-book.
Biba raises regulatory concerns in budget submission
The British Insurance Brokers Association has asked the government for “a more dynamic regulatory regime in place that recognises the impact of regulation on our sector.”
US Risk targeting Lloyd’s brokers for marine, energy growth
US Risk chief executive Randall Goss has told Post he currently in talks to buy three Lloyd’s brokers.
Towergate sells Power Place to Open GI
Open GI has acquired Power Place from Towergate for an undisclosed sum, in a deal which will see 48 staff – including chief executive Nick Giddings – move across to the software provider.
Bluefin committed to motor after 2012 travails
Axa-owned broker Bluefin has said it remains dedicated to its motor business, despite noting that repricing its motor book had contributed to dipping revenue for 2012.
Lockton recommends reservation of rights clause
Broker Lockton has told its clients to add a clause to their insurance contracts to help counteract negative effects of the reservation of rights by insurers.
Markel and Alterra shareholders give green light to acquisition
The Markel acquisition of Alterra Capital Holdings has been given the go-ahead by shareholders at both firms following a vote.
Independent midwives seek cover ahead of legislation
An organisation representing independent midwives is in discussions with a broker over plans to secure affordable professional indemnity insurance, ahead of the launch of new legislation.
Bluefin Ebitda increases 27.5%
Bluefin Insurance has reported a 27.5% rise in Ebitda to £22.7m (2011: £17.8m) and a 54.3% pre-tax profit of £17.9m (2011: £11.6m).
Esure confirms IPO intention as improved COR of 92.8% is chalked up
Esure chairman Peter Wood has this morning confirmed the intention of his firm to proceed with an initial public offering.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
LV boss O'Roarke calls for "sanity" in 2013 motor market
LV general insurance managing director John O’Roarke is hopeful that "sanity" will be restored in the personal lines motor market in the year ahead and is predicting falling rates to pick up.
Guy Carpenter appointment signals focus on European casualty market
Guy Carpenter & Company has appointed Georg Fuelles as head of European casualty strategy.
LV investment return soars as 2012 floods take toll on COR
LV underwriting profit suffered a £25m hit last year, as the firm’s combined operating ratio increased to 99.7% (FY 2011: 97.7%) as a result of adverse weather conditions during large parts of 2012.
UIB recruits to bolster international property plans
United Insurance Brokers has swooped to recruit Thompson Heath & Bond’s Grant English as a London market broker.