Post - 2010-02-04
Articles in this issue
Go Compare halves losses as profitability aim beckons
Go Compare's chief executive Hayley Parsons has insisted that the aggregator is on course to make a profit for the first time since launching as a start-up in November 2006.
Miller in FTSE 250 drive
Independent broker Miller has hired the former chief executive of Aon Global UK, Ken MacDonald, to spearhead its expansion in the corporate risk sector.
Hoban pledges 'dedicated' resource for insurance
The Conservative Party has attempted to allay the insurance industry's fears that it will be tarred with the same brush as banks, if the party comes to power this year and scraps the current regulator, by promising 'dedicated resources' to the sector.
Axa unveils direct launch
Axa has signalled its intention to become a major player in the direct motor market after launching an aggressive marketing campaign to support its return to the sector.
Merlin refinancing deal struck to reduce costs
Loss adjusting and claims management company Merlin Professional Claims Services has agreed a refinancing deal with Royal Bank of Scotland, Bridgepoint and Babson Capital Europe.
AA insurance boss: deals "drying up"
The AA has reported that car insurance premiums rose more sharply in the last quarter of 2009 than at any other point since the launch of its UK insurance premium index in 1994.
Aviva drops Asda
Aviva has relinquished its role as lead home, motor and travel insurer for Asda. The insurer extended its affinity deal signed in March 2003 with the supermarket until December 2009.
Insurers stress fraud action
Insurers have stressed the need for decisive action against fraudsters in the civil courts after seven major insurers won £300 000 in damages from 57 members of a 'crash for cash' fraud ring.
Heath Lambert in race to be HSBC replacement
Heath Lambert has emerged as a frontrunner to replace HSBC Insurance Brokers as the UK representative of Assurex Global, Post has learnt.
Hubbard quiet on UKG link
Former Axa Insurance chief executive Peter Hubbard has refused to rule himself out of the running to become the new boss of UK General.
Industry welcomes exception in Equality Bill
The insurance industry has welcomed a decision to allow insurers to continue using age as a risk factor in setting premiums.
TIP linked to Oxygen trio
The Insurance Partnership has been linked with three members of Oxygen's corporate risks arm who recently resigned.
'Culture shift' sees 100 execs recruited
Towergate plans to bolster its broker sales force by recruiting 100 development executives this year, as part of its revised strategy to grow organically rather than through acquisition.
Editor's comment: Interest in rates up
The issue of rates — and, more specifically, motor rates — is certainly getting a lot of attention at the moment.
Solvency II: warning over capital requirement
Insurers could face an average solvency capital requirement increase of more than 60% compared to previous expectations as a result of new Solvency II proposals, EMB has warned.
WNS breaks into national broker market
WNS Assistance is to target the UK broker market after winning an outsourcing deal with Bluefin to manage its personal lines motor claims.
Higos looks for heir to pick up acquisition mantel
Higos Insurance Services' managing director has outlined plans to recruit his successor and move to the role of chairman, as well as acquire five new brokers in the next 18 months.
Central eyes opportunities after £1.2m move
Aberdeen-based broker Central Insurance has hired former Aon, Willis and Axa staff to operate its new office in Glasgow, after investing £1.2m in the new venture.
NFU sees future in hybrid car insurance
NFU Mutual has been appointed by Mitsubishi as its approved underwriter for its new line in electric cars, i-MiEVs.
Barbon earnings up 20% on back of new business
Barbon has reported that its broking business saw annual profits grow by 2% to £42.7m last year, compared to 2008 (£41.9m).
THB vows to improve margin
THB has vowed to work on its broking margin and continue to expand overseas after profits remained static in 2009.
SMEs look to go direct
A third of UK SMEs would rather buy business insurance direct, rather than via a broker. According to a new survey by QBE, only 16% of UK SMEs will look to the insurance industry for advice in the first six months of 2010.
North of the Border - The language of legislation
In the December decision of Morrison Sports & Others v Scottish Power, the Inner House of the Court of Session cannot be said to have sparked any controversy.
Vericlaim targets turnover of £7m in first trading year
Vericlaim UK has targeted a turnover of £7m in its first year of trading, following a formal launch this week.
Handling model overhaul could save millions
The insurance industry could save at least £180m a year in property claims if the current model undergoes an overhaul, according to Isis commercial director Cris Bellamy.
Self-service briefing: Aviva online boss warns of "beast" awakening
By moving to a self-service model, insurers must prepare themselves for "awakening the beast".
Self-service briefing: Comparison sites have no loyalty claims survey
Price comparison sites are failing to build up significant brand loyalty, given that many online shoppers continue to check more than one site before buying insurance. And, in some cases, they may even phone an insurer selected direct — in the belief…
Self-service briefing: Lincoln outlines case for self-service
IBM Insurance Solutions executive Nick Lincoln kicked off proceedings by telling the audience he believed there is a fundamental case for self-service.
Self-service breifing: Insurers feline the 'meerkat effect'
Insurance customers have changed from behaving like dogs to cats, and are now turning into meerkats as a result of social networking and other technologies.
Self-service briefing: 'Uniform customer' does not exist
Insurers looking to build a self-service strategy incorporating new technologies have been warned that "overload is rampant".
Self-service briefing: Satisfaction at stake
If you get self-service right, you will dramatically improve customer satisfaction. That was the claim of Aviva head of online experience Chris Abrathat who noted that when his business moved to this model, he was proud to have an average satisfaction…
Interview - David McMillan: Time for the fine tuning
Aviva's chief executive of general insurance David McMillan has turned a bunch of losers — his son's football team — into winners. Daniel Dunkley discovers his plans for an insurer that is already top of the league in many sectors.
View from the Top: The money-go-round
I've had a go, on the back of a large envelope, at breaking down where the money goes that Mr Customer spends on his motor insurance. Just what happens to a typical £400 premium?
Postbox: No standard LEI outside the UK
Paul Asplin, chief executive officer of DAS Group makes some pertinent points in his recent letter ('European legal insurance model can work in UK', www.postonline.co.uk/1587832) but they may give the impression that there is a standard legal expenses…
Follow the lead
Converting and retaining new business is essential in the current economic climate. Edward Murray looks into how brokers can best mine new seams of prospects.
Environmental liability update: Small impact?
With the Environmental Liability Directive finally becoming law in the UK last March, Alan Dobson examines whether its effect has been as hard hitting as predicted.
Diabetes & Dangerous driving: Motor functions
With the number of people in the UK being diagnosed with diabetes increasing dramatically, Ian Bridge says insurers should alert their motor customers to be more aware of the legal implications.
Claims- personal injury: Number crunching
Wilson Carswell examines the number of personal injury claims following motor accidents that are made in the UK and asks if the figures add up.
The legal lottery
The 'lotto rapist' case has had a considerable impact on the law relating to sexual abuse. Lindsay Gray charts the changes and their implications for care establishments and insurers.
Scottish firms are upbeat about recruitment in 2010
The financial services industry in Scotland is showing signs of recovery, with recruitment set to rise and redundancies predicted to drop.
Warning over scrapping retirement age
The Forum of Private Business has warned that government proposals to scrap the default retirement age threaten the future of SMEs across the UK and could lead to a raft of "painful and costly" legal disputes.
Penny black's insurance week
Penny was intrigued to discover the lengths to which people will go for insurance at Hiscox. On a recent visit to the insurer's City office, a chat with two underwriters uncovered some unusual clients on Hiscox's books — among them a balloon artist, and…