Post - 2010-07-01
Articles in this issue
MoJ: personal injury text pests to be investigated
The Ministry of Justice is understood to be investigating the rising tide of organisations sending unsolicited text messages to consumers promoting personal injury services.
Confused leads the insurance pack in social media usage
Confused has topped an index of the most 'followed' insurance brands on social media websites.
No grace period on IPT
London market insurers and brokers have been told they will not be given the same grace period as when faced with the last hike in insurance premium tax.
Rehab providers urged to tackle 'therapy drift'
Rehabilitation providers must become more commercial and proportionate in their dealings with injured claimants to prevent "therapy drift" and inflated costs for insurance purchasers.
EA calls for flood funding
The Environment Agency is calling for communities and businesses to contribute more towards the funding of future flood defences.
Late claims payment fine
Insurers should expect to pay damages to their clients when they are slow to pay claims, according to the Association of Insurance and Risk Managers.
Non-life weathers storm
In the UK non-life premiums fell 3.1% to $92bn (£61bn) in 2009 (which ranked it fourth behind the US, Japan and Germany) out of a total of $309bn (which ranked the UK third behind the US and Japan), and that insurance penetration was 12.9%, according to…
Catlin to join solicitors' PI market exodus
Bermuda-based insurer Catlin has become the latest player to withdraw from the troubled solicitors' professional indemnity insurance market.
Businesses to feel the heat as large fires continue to rise
Challenging economic conditions are having a significant impact on fire danger, according to the Association of British Insurers director of general insurance and health, Nick Starling.
Credit hire stake sees Lord Young impartiality queried
The Cabinet Office has insisted Lord Young of Graffham remains the right person to lead an investigation into compensation culture in the UK, despite having a major shareholding in credit hire firm Accident Exchange.
Biba pushes aggregator issues at European broker meet
The British Insurance Brokers' Association has met fellow European broker bodies in Tel Aviv to discuss the Insurance Mediation Directive and other European issues.
Lloyd's insurer continues diversification with Swiss plan
Catlin's plan to establish a reinsurance company in Switzerland has been described as another significant move by the group to diversify away from its Lloyd's roots.
Top 5 Post stories
The top five most popular stories on postonline.co.uk over the last week were:
Treloar in Aviva retail role
Former Royal Bank of Scotland motor managing director Steve Treloar is to join Aviva as its new retail director.
Broker share set to fall
The market share of national brokers is expected to decline to 50% in 2010 and is forecasted to continue falling until 2014.
Heritage in callto EC on captives
Specialist insurer Heritage has urged the European Commission to do more to ensure captives are treated fairly under the Solvency II regulations.
Editor's comment: End for mobile menace?
Just two months ago I wrote in this column about the proliferation of unsolicited text messages promoting personal injury services.
Quadra wins place as APC goes for panel
Start-up Quadra has landed a place on the new property loss adjusting panel of underwriting agency APC.
Whittington faces Aviva in Asian direct market
Whittington has pitched itself against Aviva by setting its sights on the direct Asian insurance market with the launch of a new insurance company in Singapore.
Torus predicts tablet surge after Ipad first
Torus has predicted the tablet computer will revolutionise the insurance industry, after the firm claimed to be the first insurer to conduct board meetings using Apple's Ipad.
UK General gets Hanns-on for scheme sales
Leeds-based UK General Insurance has appointed Ralph Hann as national schemes sales manager for the group.
Pain relief at FSA
The Financial Services Authority has announced that Jon Pain, managing director of supervision and an FSA Board member, has become the latest senior member to decide to leave the organisation in 2011.
Houghton is Southern Ace
Ace has appointed Jon Houghton to the role of regional manager of corporate risks, Southern region.
Hiscox Syndicate 33
Hiscox has published a summary of its initial 2011 business forecast for Syndicate 33 and envisages a syndicate capacity of £900m for 2011, a reduction of £100m from 2010.
Government budget cuts impacting UK, claims THB
THB group chief executive Frank Murphy has said that the sale of the majority of underwriting agency Unicorn and recessionary pressures accounted for the broker's UK business making a loss.
HL wins Diabetes UK tender
Heath Lambert has won a tender to provide personal lines and life insurance products for health charity and patient organisation Diabetes UK.
Broker profits to fall
UK insurance brokers are expecting a drop in profitability over the next three months, research by Pricewaterhouse Coopers and the Confederation of British Industry has shown.
Money handling warning
UK brokers must tighten up client money procedures according to insurance industry accountant and consultant Moore Stephens.
CII and Biba to highlight broker professionalism
The Chartered Insurance Institute and British Insurance Brokers' Association will join forces to demonstrate the "professionalism agenda" of broking to the coalition government.
KFI reaps benefit of non-motor book growth
For sale-intermediary Kwik Fit Insurance's move away from its motor heartland helped it increase pre-tax profits by 24% to £10.93m in 2009.
GAB Robins boss looks overseas following MBO
The chief executive of GAB Robins UK has admitted it would like to formalise its international relationships — and could even launch its own overseas start-ups — as it seeks to grow its global markets business.
ADR predicted to rise if Clarke shuts courts
Allianz has claimed government plans to cut the number of lower courts in England and Wales by almost a third could promote the use of alternative dispute resolution.
North of the Border: Damages (Scotland) Bill
In February it was announced that the Damages (Scotland) Bill would be introduced to the Scottish parliament. Its intention is to repeal and replace the Damages (Scotland) Act 1976, restating the law in a clearer form and, in particular, introducing a…
Flood service formed
Three insurance repair and renovation companies, with combined annual sales in excess of £100m, have formed a new national flood mitigation and drying service with an integrated building contracting operation.
Halliwells wants takeover
Halliwells has filed for court permission to appoint an administrator as it looks to secure a takeover by Hill Dickinson.
Interview - Lyndon Wood: Daring to be different
Moorhouse boss Lyndon Wood spent last year in the Dragon's Den. Literally. He talks to Mairi MacDonald about growth plans, admiration for Adrian Colosso and pigeon psychology.
Equity World Cup competition - week four: Up for the prize
England are out but our World Cup competition continues, with great prizes up for grabs — including an Ipad.
View from the top: Stand up to EC on renewal
The law of unintended consequences dictates that on occasion some of us will suffer from the well-meant actions of others. This certainly appears to be so in the case of the Consumer Rights Directive currently being debated at the European Parliament.
Automated systems to negate driver error
I read with interest the letter from Jack Brownhill regarding the article 'Safety First and Last' which covered Thatcham's vehicle testing.
Technology - Underwriting: Shifting focus
Insurers are upping the pace at which they investigate underwriting IT options and, over the past six months, there has been a substantial jump in the number of carriers looking to engage software houses with projects in this area, says Edward Murray
Technology - E-certificates: Certifiable progress
Jakki May explains that changes to the law regarding e-certificates for motor insurance mean that the industry can now make headway in dispensing with old-style postal delivery, potentially saving millions on printing while also reducing fraud.
Technology - Process management: Flexibilityis your friend
Coping with unexpected demand can put immense strain on insurers.
Technology - Global platforms: One size won't fit all
As online distribution becomes more ubiquitous, Paul Ferris warns that such platforms must be used with sensitivity to local practices.
Aviation - Emissions trading: Ground for concern?
In less than 18 months, the aviation industry will be brought into the EU Emissions Trading System. Barry Moss considers the implications for insurers.
Climate change - Governance: Running hot and cold
Risk managers have been gearing up for the impact of climate change, but one area of uncertainty remains. Lindene Patton takes a look at the political and regulatory factors.
Career development & CSR news: Barrie & Hibbert supports risk academy at Heriot-Watt
Risk modelling specialist Barrie & Hibbert has announced its support of the Scottish Financial Risk Academy, which it claims is the first of its kind in the UK. It was established by Heriot-Watt University following the award of a £335 000 grant by the…
Career development & CSR news: Employee engagement & flexible working
With two of the summer's major sporting events already in full swing, insurers are worried how they can maintain workplace productivity levels and minimise the potential for staff distraction. Recent research by the Chartered Management Institute reveals…
Career development & CRS news: Ecclesiastical boss appointed Prince's ambassador
The Prince of Wales has made Steve Wood, managing director for the UK and Ireland at Ecclesiastical, his 2010 Prince's ambassador in the South-west.
Equity World Cup competition - week four: Insurer in play
Andy Wright of Equity Red Star
Equity World Cup competition - week four: Broker on the ball
John Hooper of Coversure
Postscript – 30 years ago: Losses rise as large fires take hold
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 30 years ago reveals.
Postscript – 10 years ago: Ex-Churchill boss leaves RBSI post
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 10 years ago reveals.
Post script – 10 years ago: Garwyn in limbo as QBE goes to Limit
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 10 years ago reveals.
Penny Black’s insurance week
Remember Big Brother? Penny was taken aback to discover the series is still trundling through its final series and drawing in big enough viewing figures for Go Compare to choose a slot in tomorrow’s eviction night extravaganza as the place to launch its…