News
R&Q undertaking business review as H1 loss of £4.5m is recorded
Delays in legacy acquisitions, restructuring and investment costs in US services and a lower investment return have been blamed for a pre-tax loss of £4.5m at Randall & Quilter in the opening six months of 2015.
Whiplash fraudsters ordered to pay costs to Axa
A judge in Birmingham has thrown out a personal injury case after it was discovered that four individuals claiming to have suffered whiplash in a road traffic accident had never been in the vehicle in question.
IPT hike will increase ‘churn’ says AA boss as H1 revenue and trading Ebitda fall
The 58% increase in insurance premium tax to 9.5% from November is likely to increase churn in insurance and roadside assistance, according to AA executive chairman Bob Mackenzie.
Over half would only consider telematics policy with £100 plus premium saving
Saving money is still the biggest factor in people taking out telematics and data-based insurance motor policies, according to new research from Consumer Intelligence. Although for over half (55%) the saving would have to be over a £100 for them to…
Markel appoints China head
Markel has hired Hu Qianhai to lead its China operations.
Driverless cars concerns can be overcome, claim insurers
Concerns around the vulnerability of driverless car systems to hacking have merit but do not present an insurmountable obstacle to mainstream uptake, according to insurers involved in the development of autonomous vehicles.
Future bids expected for RSA as Zurich pulls plug on acquisition
RSA's appeal as an acquisition target has not been diminished by Zurich's decision to pull the plug on takeover talks, according to market analysts, who have nevertheless suggested that a future deal is unlikely to take place in the short term.
UK motor market value set to decline over coming years
The real value of motor insurance markets in the UK and Italy are likely to decline over the next few years, as emerging Asian markets continue rapid expansion, according to Finaccord.
L&G Kingswood staff vote for strike action over job cuts
Staff at Legal & General's Kingswood site in Surrey have voted in favour of strike action after 1700 jobs were put at risk following the company's decision to vacate the site by 2017.
Lloyd's cyber consortium launched by Beazley, Aspen and Brit
Beazley has joined forces with Lloyd’s syndicates managed by Aspen and Brit Global Specialty to launch the International Cyber Consortium.
Microinsurance and terrorism among top emerging risks opportunities for reinsurers
Aon Benfield has identified seven emerging risks it believes will provide reinsurers with business opportunities over the next five to 10 years.
Gallagher network Compass hits £645m GWP as 20 members join
Twenty brokers have joined Arthur J Gallagher's UK network Compass in the past six months taking the total gross written premium controlled by its members to £645m.
Zurich abandons RSA approach
Zurich has abandoned its bid to buy UK rival RSA after poor trading in its general insurance business.
Executives see technology investments as priority for boosting profitability
Insurance executives are beginning to recognise the importance investments in technology can play in boosting profitability, according to research by Interim Partners.
IFB to present business case to GIC in November
The Insurance Fraud Bureau is to present its business case to the General Insurance Council on 26 November with work to test the feasibility of identifying organised fraud networks in claims underwriting data expected to start this month (September).
Lockton hires Aon’s former sales head as SVP for the north
Lockton has appointed Kelvin Chadwick as a senior vice president for its north of England operations.
Government to tackle late claim payments in Enterprise Bill
The government is clamping down on late payment of insurance claims with its proposed Enterprise Bill by introducing a contractual requirement on insurers to pay claims to businesses within a reasonable time.
Quiz of the week - 18 September 2015
It's quiz time! Test your knowledge of the week's insurance news. Let us know how you do by sharing your score on Twitter with the hashtag #postquizscore...
Markerstudy signs up to My Licence following RDT upgrade
Markerstudy is engaging with the My Licence initiative following RDT’s upgrade of its administration platform Landscape.
Royal Charter for WCI 'adds lustre' to insurance industry
The Worshipful Company of Insurers was formally presented with its Royal Charter at a banquet in London’s historic Guildhall this week.
PWC sponsors insurance start-up accelerator
PWC’s UK insurance practice has joined up with the insurance accelerator programme at Start-up Bootcamp, a network for start-up companies.
Bought By Many to harness social media after buying pet insurance broker
UK start-up Bought By Many has acquired 100% of the shares in pet insurance broker Brooks Braithwaite (Sussex).
Willaert to succeed Graham as Ferma president
The Federation of European Risk Management Associations has announced its 2015/2016 executive committee to be led by president Jo Willaert.
Online modelling tool allows insurers to see crime hotspots by postcode
Insurers can gain easy access to crime hotspots by postcode under a new model launched by online map data provider Emapsite.