Throwback Thursday: Kwik Fit gets fitter; Aon’s warning
Insurance Post’s Throwback Thursday steps back in time to March 1998 to remind you what was going on this week in insurance history when Kwik Fit Insurance was expanding and Aon’s CEO warned against lawyers.
26 March 1998: Kwik Fit gets fitter
Kwik Fit Insurance told Post’s Jon Guy it aimed to create up to 1000 insurance jobs with the opening of its “telemarketing centre of excellence.”
Scottish Secretary Donald Dewer said the jobs would be created as part of Labour’s Welfare to Work New Deal, which was designed to get youngsters into training and employment.
In 2010 Kwik Fit Insurance was sold to Fortis Insurance, which later became Ageas.
Aon warns London on claims
Dennis Mahoney, chairman and CEO of Aon Group, warned the London market it must free itself from the increasing involvement of lawyers in the claims process or lose business.
He said: “The propensity to get lawyers involved with claims is driving business out of the London market.
“Historically, Lloyd’s and the London market have been the best payers and with the most goodwill.
“Now the pendulum has swung the opposite way and the market is beginning to pay the price.”
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