News
Allianz personal lines stalwart joins Zurich
Zurich has appointed Gareth McChesney as director of personal lines underwriting and pricing for its UK general insurance business.
Fire service tackles huge blaze at West Midlands plant
Firefighters are tackling one of the largest fires ever seen in the West Midland after 100,000 tonnes of plastic caught fire at a recycling plant in Smethwick.
Repair firm warns on Flood Re start date “grey area”
Damage restoration specialist Richfords Fire and Flood has warned that a new agreement on flood cover is not due to come into effect until 2015, with a “grey area” in the interim.
Gable combine ratio improves to 67.4%
Liechtenstein-based Gable's combined ratio improved to 67.4% in its full year results for the calendar year 2012, beating its restated 2011 figure of 78.8%.
Law Society to launch professional indemnity scheme
The Law Society is in the process of establishing a professional indemnity scheme for small firms to help them steer clear of unrated insurers.
Business as usual says Co-op as it launches £6m ad campaign
The launch of a new advertising campaign for The Co-operative Insurance represents "business as usual" according to commercial director Lee Mooney.
Sequel appoints non-executive director
Insurance software specialist Sequel has named Peter Droussiotis as a new independent non-executive director on 1 July 2013.
Quindell to scale down acquisitions following latest purchase
Quindell Portfolio has outlined its acquisition strategy after revealing the completion of a deal to purchase the React and Recover Medical Group.
Gable records 67.4% 2012 COR
Lichtenstein-based Gable has scythed its combined ratio to 67.4% in its full year results for the calendar year 2012, beating its’ restated 2011 figure of 78.8%.
Alec Finch steps down from Biba board
Alec Finch has left his place at the board of the British Insurance Brokers’ Association following the end of his term.
Willis Re encouraged by Flood Re government liability and excesses pledge
Proposed pool will not impose a significant administrative burden on insurance businesses nor undermine the commercial environment according to Willis Re.
Tribunal upholds FCA ban and £150 000 fine on broker Jeffery Flanders
The Upper Tribunal has upheld the decision of the Financial Conduct Authority to ban Andrew Jeffery, director of Jeffery Flanders (Consulting), and fine him £150 000 – one of the largest fines imposed on a broker for insurance fraud.
Government responds to Water Bill draft
The government has issued a response to the Environment, Food and Rural Affairs Committee’s pre-legislative scrutiny of the draft Water Bill.
Invicta picks up Stackhouse personal portfolio
Kent broker Invicta is set to acquire a portfolio of personal lines business from Stackhouse Poland.
McLarens hires Crawford & Co executive accountant
McLarens has recruited Richard Keegan FCCA ACILA as an executive accountant/adjuster from Crawford & Company.
Biba launches strategic review consultation
The British Insurance Brokers’ Association has launched a member consultation following it strategic review earlier this year.
Chinese insurers might face downgrading, Moody’s warns
Chinese property and life insurance firms might see a credit downgrade in the next two years if car insurance and saving products remain as the main source of their income, rating agency Moody’s has warned.
Unrated insurer problems force SRA to reinvestigate stance on financial stability vetting
The Solicitors Regulation Authority is to re-investigate if it should introduce financial eligibility criteria following recent problems with unrated insurers including Quinn, Lemma and more recently Balva.
Timetric report predicts steady growth for Romanian insurers
Romania’s high road accident rate will increase personal accident insurance cover sold reaching 648 700 policies by 2017, a Timetric study has found.
SSP strengthens development team
SSP has made two appointments to its broker training and development team in a bid to offer additional technical and practical support.
Ferneyhough joins Brit as strategy director
Brit has appointed insurance analyst Joy Ferneyhough to the newly created role of director of strategy and corporate development.
Ace drops basis of contracts clause from UK policy wordings
Ace will remove the basis of contract clause from UK wordings issued under its European group stamp for new and renewed business following a wide-ranging review.
Deloitte and PwC welcome flood decision
Deloitte and PwC agree today’s agreement will benefit households at a high risk of flooding.
Biba and Kingsbridge offer PI scheme for freelancers
The British Insurance Brokers Association and Kingsbridge are offering professional indemnity cover for freelance professionals.