News
ABI index shows average motor premium is down by 4% in 2014
The average price paid by motorists for private comprehensive motor insurance during 2014 fell by 4% compared to 2013, according to figures published by the Association of British Insurers today.
ERS recruits Innovation Group to manage repair and engineering network
Motor Insurer ERS has inked a three year deal with Innovation Group that will see the claims specialist manage its repair and engineering network for cars, light and heavy commercial vehicles.
Ifed welcomes DCI Angie Rogers to anti-fraud hotseat
The Insurance Fraud Enforcement Department has confirmed the appointment of Detective Chief Inspector Angie Rogers as DCI Dave Wood’s successor as head of the City of London Police unit.
LV focusing on profitability
LV group CEO Mike Rogers has insisted the firm is focusing on “profitability rather than top line income” after the business recorded a reduction in annual general insurance gross written premium to £1.39bn last year from £1.45bn in 2013.
Towergate Financial facing £85m mis-selling bill
Towergate expects to pay up to £85m in redress costs for the mis-selling of two financial products to the end of 2012.
New IRM chair outlines priorities
Raising awareness of the Institute of Risk Management’s professional standards for members and championing its new certification scheme are among the priorities of the institute’s new chief executive.
Age UK offers 'goodwill gesture' to reverend after discrimination dispute
Age UK has denied accusations it discriminated against a Christian minister by threatening to void her motor insurance policy after she put religious slogans on her car.
Towergate's EBITDA down 24% in 2014
Earnings before interest, tax, depreciation and amortisation at Towergate fell 24% last year to £110m from £145m in 2013.
Towergate agrees restructuring as senior creditors take control
Towergate has agreed a new capital structure which will see existing shareholders wiped out.
Anbang Insurance's New York Waldorf acquisition approved
Chinese insurer Anbang Insurance's $1.95bn (£1.3bn) proposed deal to buy the iconic New York hotel the Waldorf Astoria has been approved.
Australia's National Construction Code available for free
The Insurance Council of Australia has welcomed the availability for free of the National Construction Code.
Das UK remains on negative watch as it conducts internal investigation
Standard and Poor’s has confirmed that Das Legal Expenses, the UK arm of the Munich-Re owned legal protection insurer, remains on credit watch with negative implications, as it completes its internal investigation.
P&I club Thomas Miller unveils ABS
Thomas Miller has expanded its claims and consultancy services through the launch of an alternative business structure Thomas Miller Law.
Med Co inviting claimant solicitor and insurer registrations
Claimant solicitors and insurers have been invited to sign up with Med Co Registration Solutions from 31 January ahead of the full launch of the search facility.
Cega names Hardie as group CEO
Medical assistance and claims business Cega has named health, life and accident business lead Alistair Hardie as its new group CEO.
Costs irrecoverable where CFAs fail to comply with cancellation regulations rules court
Defendants who identity the absence of a cancellation clause in conditional fee arrangements could avoid paying costs, after a Court of Appeal decision.
11 banks facing 2 million compensation bills over card protection product
Eleven banks and credit card issuers may be forced to pay compensation to approximately two million people over the sales of a card security product.
FCA launches fresh PPI complaints investigation
The Financial Conduct Authority has announced a new probe into complaints over the sale of payment protection insurance that may see it set a time limit for complaints.
JLT's Howorth to leave Asia for UK role
Duncan Howorth is returning to the UK after two years as CEO JLT Asia, to become CEO of JLT’s UK employee benefits business.
Singapore insurance fraudster sentenced for three months
A man falsely claiming to be behind the wheel of a vehicle in an accident in April 2009 has been sentenced to three months in jail in Singapore.
EU Commission approves Flood Re
The European Commission has agreed that Flood Re does not violate rules on state aid by seeking to ensure the availability of low cost flood cover.
Bennetts will be run as 'standalone business' says Saga Services CEO
Motorcycle broker Bennetts, which agreed to be acquired by over 50s insurer Saga yesterday (29 January) will be largely run as a standalone business according to Roger Ramsden chief executive of Saga Services.
Fraudster sentenced after faking burglary to make £30k claim
A fraudster who staged a burglary in order to claim nearly £30,000 on his home insurance has been handed a 10 months suspended sentence and been ordered to do 270 hours of unpaid work.
81% want tighter regulation over CMC calls
More than 80% of Britons want telemarketing firms working with claims management companies to face closer regulation and bigger fines, while 63% want unsolicited CMC communications to be made illegal, according to a study from Axa.