Post - 2010-04-15
Articles in this issue
Offshore insurers deny cutting rates to win ex-Quinn business
Two unrated offshore insurers said to be among the key beneficiaries of Quinn¹s problems in the UK have hit back at suggestions they are underpricing risks to win commercial business previously underwritten by the Irish firm.
Quinn given hope over UK insurance return
The Financial Regulator has offered Quinn Group some hope that it may be allowed to reopen for insurance business in the UK, albeit in a limited capacity.
Comment - insurance law reform: Reform can't wait
Now plans to reform the legal framework for commercial insurance have been delayed, buyers are increasingly taking action to strengthen their rights in the event of a claim. John Hurrell argues the archaic law governing pre-contract disclosure is…
News analysis - Aggregators: Motoring on
With motor rates leaping up by 15%, Tom Cooper assesses whether prudent, profitable pricing is finally on the horizon
Brittain steps down as Finsure ceases writing business
Trevor Brittain has stepped down as managing director of Royal Bank of Scotland's premium finance business Finsure ahead of its closure.
ABI reveals massive trade credit claims increase for 2009
The Association of British Insurers has revealed the cost of trade credit claims soared by 95% in 2009, while business prospects remain "highly uncertain".
Benchmarking briefing
In today's competitive market, companies are looking for innovative ways to reduce claims costs, improve efficiencies, and provide superior customer service.
Fire claim insurer named
Zurich and Cunningham Lindsey are involved in the claim resulting from last week's blaze in Southampton in which two fire fighters died.
Bill plans dropped
The government has dropped controversial plans in the Financial Services Bill to allow class actions against financial institutions.
LV boss hails new deals as firm exceeds target
LV's breakdown division Britannia Rescue has agreed a number of new broker partnerships as it seeks to widen its distribution in the intermediary market.
Carole Nash takes £629 000 legal costs hit
Carole Nash's 2009 results were hit by costs arising from a legal dispute with a third party.
JPM franchise model unveiled
Midlands-based broker Johnston Park McAndrew is set to establish its first franchise offering in Shropshire.
Aviva improves flood map
Aviva is set to unveil a new flood mapping model it claims will enable it to offer "more competitive prices" to household policyholders.
Jelf denies acquisition
Jelf has denied it will be acquired by Capital Z, despite the private equity firm increasing its stake in the broker to 27.8%.
RSA achieves 90% target for promise
RSA has rolled out its 'broker promise' initiative across its entire middle-market business, following its initial launch last year.
Swiftcover ops centre to create 350 new jobs
Swiftcover plans to create 350 jobs over the next three years when it opens a new multi-million pound operations centre in Stockton, Teesside.
Cooper Gay on the up
Cooper Gay has reported group revenue growth to £100.5m (2008: £77.9m), an increase of 29%. EBITDA grew 8% to £19.9m (2008: £18.4m).
Countrywide launch
Broker Network has launched a full membership proposition for Countrywide members, called Countrywide Complete.
New FD for UK General
Oliver Laird has been appointed finance director at UK General Insurance with immediate effect. Mr Laird, who joined the company in September 2009 as head of finance, will join the UK General Insurance board and report to chief operating officer Michael…
Beazley moves to USD
Lloyd's insurer Beazley is to change its reporting currency to US dollars for the 2010 financial year onward.
Start-up targets IT and media
Aquila Underwriting has launched an underwriting platform offering specialist liability, business interruption and crisis management policies for media content, intellectual property and IT security risks.
Towergate boss hails Glasgow consolidation
The managing director of Towergate's Scottish operation has hailed the consolidation of its five Glasgow businesses under one roof is a marker of its proper arrival in the city's insurance market.
Johnson to head affinity
Oxygen has appointed Howden's former divisional director, Steve Johnson, as head of affinity.
EDB to steer Kia scheme
Kia Motors UK has appointed Equity Direct Broking to administer its car insurance scheme.
Broken records
Kwik Fit Insurance, The Green Insurance Company and Express Insurance have all topped previously held sales records in March, with KFI selling more than 2000 new car and home insurance policyholders in a single day.
LBG hires HSBC duo
Lonmar Global Risks has revealed David Gray and Simon Henderson will be joining the company from HSBC Insurance Brokers to lead the accident and health division, within the non-marine business.
Fire safety a burning issue
Marsh is recommending that organisations based in England review their health and safety procedures following the introduction of the Fire Safety (Employees' Capabilities) (England) Regulations 2010, which came into force for England on 6 April.
CILA fends off conflict of interest criticism
The Chartered Institute of Loss Adjuster has defended its decision to strengthen its member guidance on conflicts of interest against accusations it may be acting outside its remit as a professional standards body.
Groupama ups bike game
Groupama Insurances has hired former Capita insurer relations manager Ian Pritchard as development underwriter within its motor team.
Allianz committed to energy market despite RSA review
Allianz has vowed to assist any brokers affected by RSA’s review of its energy efficiency services. RSA has stopped actively promoting the service, which helps clients comply with the Energy Performance of Buildings Directive.
Rebuilding costs fall in Q1
The cost of rebuilding a house has fallen 1.5% in the first quarter of 2010 compared with the same period in 2009, according to figures produced by the Royal Institute of Chartered Surveyors’ Building Cost Information Service.
Lockton backs mobility vehicle cover review
Lockton has backed government proposals to introduce compulsory third-party insurance for mobility vehicle users.
Zurich seeks to help brokers navigate MoJ claims review
Zurich has launched a guide for brokers that aims to help them prepare for the implementation of the Ministry of Justice road traffic accident personal injury claims protocol.
Oil giant set to challenge Buncefield liability judgement
Total has applied to the Supreme Court for leave to appeal a recent judgment that found the company 100% liable for claims resulting from the 2005 Buncefield depot explosion.
Editor's comment: Taking your chances offHollywood Boulevard
For American movie lovers, if a film is said to be "unrated" it normally means that it is likely to be a bit edgier than the standard offerings pumped into the multiplexes and video chains.
Make your presence felt
Enterprise UK project manager Emma Thorn talks to Post about the major new SME initiative she is spearheading.
View from the top: Staff cutbacks mean that we all pay the price
Recent events with Quinn Insurance have proved once again that choice often comes at a price. Solicitors, as many industries in the UK, are facing tough times. Income is down, claims are up and there is not much light at the end of the tunnel. Hard-hit…
ABI's vision shortsighted
I write in response to the recent article 'MIB chief's warning over extra Employers' Liability Tracing Office costs'.
CSR - microinsurance: Small wonder
Traditional insurance has typically focused on affluent markets, mainly in Western industrialised countries, but insurers willing to go off the beaten track could find microinsurance a rewarding addition to their business, writes Ana Paula Nacif.
Damage Management - Green Credentials: Green machine
The damage management sector deals with adverse environmental impacts every day, but are its solutions wholly green, asks Jane Bernstein
Fraud - Recovering Monies: To catch a thief
Criminal prosecutions against a fraudster will rarely result in a commercial recovery — but there are more ways than one to skin a cat, as Nick Wood explains.
Fraud - prosecutions: On theoffensive
Many criminals are attracted to the seemingly easy rewards of insurance fraud but Stratos Gatzouris explains the various methods and proven potential for punishment.
Ask the expert
Does it ever make sense to accept a counter offer?
CII rolls out free new employee starter pack
The Chartered Insurance Institute has introduced free induction packs for companies looking to recruit staff who are new to the insurance sector.
BGL supports local charity
BGL Group has donated £6000 to homeless shelter Theresa's Day Centre in Peterborough, as part of its commitment to supporting the local community.
Lloyd's hosts Tower Hamlets public speaking competition
Lloyd's hosted the final of the annual Tower Hamlets public speaking competition where Year 10 students gathered to give their views on the topic 'Social networking sites: harmful or empowering?'.
50 years ago: Priest's son declined full motor cover
A clergyman of the Church of England has expressed distress that, having bought his 21-year-old son a sports car, it now appears that insurers are disinclined to grant cover in respect of passengers.
30 years ago: Computer lawsuit is delayed
Lawsuits between Lloyd's underwriters and South Western Bell Telephone Company in the US over computer leasing risks are unlikely to be tried until later this year.
20 years ago: Cross-border motor fund extension
The European Parliament has proposed that national motor insurance guarantee funds should be extended to cover situations in which the person responsible for an accident is known to disclose their insurer.
Penny Black's insurance week
This weekend, Harris Balcombe will sponsor football club Southport's Blue Square North tussle against Hyde, which could see the division's leaders take another step towards a return to the Blue Square Premier.
Biba 2010: the London Market View
With this year¹s Biba conference being held in the capital, Post thought it appropriate to ask a number of companies traditionally more associated with the London market why they are exhibiting and what they hope to get out of the event. This week we…
Biba 2010: The Claims Perspective
The Biba conference is well known as a gathering place for UK insurers to court brokers. But what of those associated with claims? Post asked the bosses of a number of these firms what their hopes are for this year¹s event, continuing with Darren Coombes…