Post - 2010-07-29
Articles in this issue
Aviva: millions saved by 'ghost broker' clampdown
A clampdown on the fraudulent activities of so-called 'ghost brokers' has saved Aviva "several million pounds" in dubious motor claims, Post can reveal this week.
NIG looks to exit personal lines after sale ruled out
Royal Bank of Scotland Insurance has unveiled a plan to close its loss-making NIG personal lines business after ruling out a trade sale as "unviable" in the current market.
Evans linked with Axa UK
The former chief executive of Axa Life Paul Evans has been linked with the same role at Axa UK, replacing current incumbent Nicolas Moreau, who took over from Dennis Holt in June 2006.
CEA submits statement
The CEA has submitted a written statement to the US House of Representatives Subcommittee to express its concerns over proposals to change the US tax treatment of reinsurance between affiliated entities.
MD role for Mycock
Autoglass has appointed Matthew Mycock as its new managing director.
Ageas agreement
Ageas has reached an agreement with BNP Paribas Assurance on the sale of its pension and life activities in Turkey.
Insurers concerned over double regulatory burden
The lack of detail concerning the regulation of the Lloyd's market could mean insurers there have more influence than others over the eventual shape of their replacement regime for the Financial Services Authority.
Top five Post stories
The five most popular stories at postonline.co.uk over the past seven days were:
Bridle buys SIS
Bridle Insurance has completed the acquisition of Southampton Insurance Services for a six figure sum.
QBE adopts dollar
QBE has decided to adopt a US dollar presentation currency for 2010 onwards
Lewis leaves Jubilee
Jubilee's group finance director, Kate Lewis, has resigned from the Lloyd's syndicate.
Government accused of 'self interest' over Jackson
Legal expenses insurers have accused the government of serving its own interests following its decision to discuss the implementation of the Jackson Review this autumn.
Moat vows to return aggregator to profit after £1 buy
Fairpoint Group chief executive Chris Moat has vowed to return Money Extra to profit by the end of the year, after acquiring the troubled aggregator for just £1.
Brokers at war over contingent commissions
Aon has become embroiled in a war of words with rival Willis after it signalled its intent to once again accept contingent commissions in the US.
Editor's comment: Operation Tinky Winky
Last week, the issue of fraud was again writ large in the insurance trade press with the latest figures from the Association of British Insurers revealing 122 000 fraudulent insurance claims were uncovered in 2009, up 14% on 2008. The value of these…
Utley looking forward to "entrepreneurial" life after IAG
Outgoing IAG UK chief executive Neil Utley has poured scorn on any prospect of him returning to buy the Equity Red Star business for a second time.
Allianz agrees brewery H&S Willis deal
Allianz has agreed a deal to distribute a tailored version of its health and safety inspection service to Willis' brewing industry clients.
Beazley gives warningover energy rate spike
Worldwide energy insurance rates will continue to harden in 2010 due to the Deepwater Horizon oil disaster, with a further spike possible at the reinsurance renewal season, Beazley has claimed.
Liability fraud on the rise claims Keoghs
Fraudulent liability claims are rising sharply according to Keoghs, which has found a 150% increase in the volume of suspicious liability claims it has investigated over the past 12 months.
Marsh: "grotesque" solicitors impacting whole PI market
Marsh has called for solicitors firms that fail to buy professional indemnity cover to be shut down — and labelled their continued trading as "grotesque".
AI Claims to beat forecast
Credit hire operator AI Claims Solutions said it expects turnover, profit before tax and earning per share for the financial year ending 30 June 2010, to beat market forecasts.
MCE signs Open GI deal
Motorcycle broker MCE has signed a new deal with Open GI, in a move that will cover the entire IT infrastructure for its call centre and trading website.
Moon appointed CEO
Ecclesiastical has appointed Andrew Moon as the new chief executive officer of its Australian business, Ansvar Insurance.
Ink MD hits the road to secure Westinsure deal
Ink Underwriting Agencies managing director Mike Smith has begun a fortnight of roadshow meetings to convince the shareholders of broker network Westinsure to accept its offer for the business.
Lang to lead directors
Lord Lang of Monkton will succeed Stephen Hardis as independent chairman of the board of directors of Marsh.
NI motor still competitive despite higher cost for consumers
Imbalance between the volume of motor claims in Northern Ireland (5.4% of the UK total) compared to the number of vehicles (2.6%) is contributing to higher insurance premiums in the province.
JLT set to swoop for Lockton business
JLT has formed an alliance with two Lockton-affiliated brokers in continental Europe, in a move that may see key London business move over to the firm.
Insurance Fraud Awards
The shortlist for the 2010 Insurance Fraud Awards has been announced.
Scots apprenticeships
Cunningham Lindsey is offering apprenticeship places in Scotland for the first time.
Quadra hires ex-CGS man
Quadra Claims Services has named former Carr Greenwood Smith employee Iain Johnston as a senior adjuster.
The claimant's view: a sledgehammer to crack a tabloid nut
On 15 July, David Frost, director general of the British Chambers of Commerce, told a joint meeting with the Trades Union Congress — entitled 'Is Deregulation Dead?' — that his members are generally happy with and understand health and safety regulations…
Davies hails LV and Zurich wins as volumes jump 44%
Claims management and loss adjusting business Davies Group has unveiled a pre-tax profit of £2.8m on a turnover of £30m for the 12 months ending 31 March 2010.
BLG hopeful of retaining Halliwells' insurer legal panel spots
Axa has confirmed that Barlow Lyde & Gilbert will take a place on its legal panel following the law firm's takeover of Halliwells last week.
News comment - Lord Gill: Call and response
After two-and-a-half years, Lord Gill published his report into civil court procedure in Scotland. Carly Stewart details the recent response by Court of Session judges.
News comment - Law Commissions: Raising the stake
Richard Evans examines the Law Commissions' latest proposals for reform of insurance contract law with regards to the issue of fraud.
View from the top: Time to fight our corner
In my last View from the Top, I wrote about preparing for a new government and how it would be important for the industry to have an open and effective relationship with it regardless of the result of the general election.
Postbox: Link web to high street now
The web is the only sales channel to have grown during the recession, while high street business has contracted significantly. Yet, while internet businesses have come a long way, they have failed to join up their CRM activities, which limits their…
Postbox: Is CII right to lead professionalism drive?
My colleagues and I have been discussing the Aldermanbury Declaration and the current media coverage that Post has been part of.
Lloyd's & London market: Bargain hunt
It looks like investors searching for a piece of the action in Lloyd's can pick up a bargain right now, as depressed share prices shine a light on profitable businesses trading at a discount to their net asset value. Ralph Savage investigates whether a…
Consolidation - global brokers: Too big for their boots?
The creation of the global broker in the 1980s resulted in a dominant few. David Trezies asks whether this consolidation has produced any tangible benefits for clients.
EL & PL: Building the wall
As fraudsters seek new areas to commit insurance fraud, Andrew Gillett reports on how the liability market is tackling this growing problem.
Yachts & pleasurecraft - fraud: Making waves
The recession saw fraud in the yacht market rocket after an unprecedented boom-bust in prices. Nick Smith examines the current situation.
Legal update - mesothelioma: Music and mesothelioma
With the high-profile death of former Sex Pistols manager Malcolm McLaren, mesothelioma fell under the spotlight once more. Neil Hackett examines the continuing difficulty in pinpointing exposure.
Law report: Violence at special school isnot analogous to contact sport
This law report has been contributed by national law firm Berrymans Lace Mawer.
Law report: Claimant compensated despite lies over earnings
This law report has been contributed by national law firm Berrymans Lace Mawer.
Law report: Suspension order fair due to issues of honesty and probity
This law report has been contributed by national law firm Berrymans Lace Mawer.
Talent - recruitment: Recruiting generation Y
As the markets slowly emerge from the darkness of recession, the employee talent pool is shrinking. Tom Rivers examines the particular challenges facing the insurance industry and how it can attract the best young talent to reinvigorate an ageing…
Postscript - 30 years ago: Biba angry over codes of practice
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: 800 law firms could close over SI
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.
Postscript - five years ago: Authorities look into own captives
Looking through Post's back catalogue paints a unique picture of mroe than 150 years of insurance news, as this article from five years ago reveals.
Penny Black's insurance week
A cautionary tale reaches Penny about the dangers of playing with hot candle wax, or rather the embarrassment that can be caused by being covered in this quick-drying viscous liquid when dining with colleagues. For that is the sticky situation that…
Post Magazine - 29 July 2010
The latest issue of Post magazine is now available to subscribers as a digital interactive e-book.