Post - 2011-03-31
Articles in this issue
Post magazine – 31 March 2011
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Hiscox sets sights on £100m untapped emerging PI premium
Hiscox is on the lookout for opportunities to build its book by targeting untapped emerging professional indemnity risks in the SME space that it believes could be worth up to £100m.
Law Commission rejects fraud law appeal
The Law Commission has rejected insurance industry proposals to review the law so people who commit third-party insurance fraud lose the right to recover genuine claims, after it was not deemed to have "sufficient support" by the Ministry of Justice.
False invoice leads to 'moral hazard' accusation by insurers
This law report has been contributed by national law firm Berrymans Lace Mawer.
Comment - commercial insurance: Trouble brewing
In the wake of a damning report on the commercial lines insurance market, Roger Flaxman enters the debate and examines the clash between insurers' principle of utmost good faith and their fiduciary duty to shareholders.
Stewart exits CII in favour of Blanc team
Axa commercial chief executive Amanda Blanc has appointed the Chartered Insurance Institute's corporate development leader Alasdair Stewart to the position of commercial director.
Post history - 50 years ago: vehicle rise drives up maintenance
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 50 years ago reveals.
Post history - 15 years ago: Guidance over 'mad cow disease'
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 15 years ago reveals.
Edwards joins Broadspire as it targets rehab market
Broadspire has unveiled its ambition to become a major force in the UK rehabilitation market, after recruiting industry stalwart Deborah Edwards to head up its new fully integrated rehabilitation services offering.
Stackhouse Poland buy pushes GWP to £50m
Independent broker Stackhouse Poland has pushed its gross written premium to more than £50m with the acquisition of Essex-based Allison & Partners.
Postbox: rate access is a reality
I was interested to read Phil Bunker's View from the Top in which he, quite rightly, challenged broker software houses to work more like the direct market and aggregators and enable insurer rate changes to be effected in a more frequent and efficient…
In Series - Fraud: Two sides to every story
Taking fraudsters to court can be a risky business for insurers, as if they lose the negative publicity can be overwhelming. Rachel Gordon looks at encouraging signs that the industry is fighting back.
Industry applauds government green light on legal cost reform
The insurance industry has overwhelmingly backed the government's decision to end the recoverability of success fees in no win, no fee cases.
Postbox: the easy touch environment
We now have another report that tells us what is wrong with our industry. Embargoed until 11 March, the Transport Select Committee's report made the headlines with breakfast television blaming referral fees for the rises in premiums; later, radio put the…
Regional Report - Dublin: Dublin up
Ireland has been bailed out by the International Monetary Fund, insolvencies and unemployment are up, insurers premium incomes down and rates show no sign of real hardening. But, when Stephanie Denton visited Dublin she found the market surprisingly…
Tawa prioritises run-off after diversification
Tawa will continue to invest the majority of its funds in run-off portfolios, despite its recent decision to diversify.
In Series - Fraud: Taking the right path
Nick Wood and Angela Gibson examine the two legal options available to insurers in fraud cases — criminal or civil action.
Penny black's insurance week
You can say what you like about them, mused Penny, but insurance people know a good corporate jolly when they see one.
The Claimant's View: Health & safety gone mad
Health & safety has gone mad. I never thought I would say those words, associated as they are with sections of the media that love to blame health & safety regulations for everything that is wrong with society today.
Preston set to join RFU
Aon director Craig Preston is set to join the Rugby Football Union in the new post of head of people development.
Legal Update: Camden fire conclusions
After a fire at Camden Market in 2008 due to portable heaters, Andrew Blair and Joanne Whyld look at the resulting court case that ensued over the broker's failure to keep the insured fully informed.
Former Homeserve duo reunited
Crawford & Company account manager Ritchie Marshall is set to take up a newly created role at claims validation specialist Imperial Consultants, Post has learnt.
RBSI to learn from past experience
Royal Bank of Scotland Insurance has claimed its new partnership with Sainsbury's Finance will benefit from the lessons it learnt from its failure to retain former partner Tesco Bank.
Career development & CSR: Paris by bicycle for Willis
Willis staff are aiming to raise £100 000 for Children's Hospices UK after selecting it as key charity for 2011.
Post history - five years ago: £386m cost of regulation on customers
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from five years ago reveals.
Large Corporate Risks - Claims: Network issues
In the wake of Cunningham Lindsey's international claims hub launch, Veronica Cowan looks at the pros and cons of claims centralisation and asks if some risks are more suited to it than others.
Post history - 10 years ago: modernising move loses momentum
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.
Fears mount over Japan BI claims
Insurers are bracing themselves for substantial business interruption claims following the earthquake in Japan, loss adjusters have warned.
Castle Cover buy 'opportunistic' for Ageas
Ageas' acquisition of Primary Group's over-50s insurance specialist Castle Cover for £52.8m was "opportunistic" according to chief executive Barry Smith.
News analysis - QIS5: Unfinished business
The fifth quantitative impact study results have been revealed. Neil Coulson casts an eye over the findings and what they mean for the implementation of Solvency II.
News analysis - Fraud: Northern fraud
Earlier this month, a judge jailed a Bury man for contempt of court for his part in a motor insurance fraud. Mairi MacDonald considers the consequences of this landmark ruling.
Career development & CSR: Economic argument wins Lloyd's-backed competition
the winner of the Tower Hamlets public speaking competition at the Lloyd's Old Library warned that individual attitudes are just as responsible for the UK's troubled economic state as government actions.
Postbox: Internet training for fraud investigation is essential
I noted with considerable interest the success of Axa Corporate Solutions when, upon investigation, it uncovered a series of motor scam accidents involving a group of young people who were found to be linked via social network sites
Profit up at Brightside after buys
Brightside has reported a profit on continuing operations of £6.5m in 2010, marking a year-on-year increase of £1.8m (2009: £4.7m).
Ernst & Young warns over motor investment
Insurers must invest more in their people and technology if they are to keep on top of "seismic shifts" in motor insurance distribution patterns.
LMA: industry powerless against pirates
The Lloyd's Market Association has insisted the insurance industry is powerless to stop the growing threat of piracy off the Somali coast.
View from the top: Delivering SME excellence
In the short time since I became SME director at RSA, small to medium-sized businesses have seen some dramatic changes. They have experienced painfully sharp rises in fuel, energy and materials costs, which have culminated in annual small business…
Law report: Court emphasises prevention of 'expert-shopping'
This law report has been contributed by national law firm Berrymans Lace Mawer.
RSA targets affinity despite competition
RSA's new personal lines managing director has said the insurer will seek profit-generative opportunities in the affinity space, despite its growing competitiveness.
Career development & CSR: Hillman Saunders launches work experience scheme
Hillman Saunders has unveiled a new scheme to help graduates gain work experience in the insurance sector.
Law report: Highway Code breach irrelevant in speeding motorbike judgment
This law report has been contributed by national law firm Berrymans Lace Mawer.
Beachcroft recruits surveillance expert
A former armed forces surveillance expert has joined law firm Beachcroft as head of intelligence.
Career development & CSR: Broker inspiration wins Molyneux Welsh Woman award
The managing partner at Cardiff-based law firm New Law crowned Welsh Woman of the Year, has put her success down to a casual talk with an insurance broker on a train.
Co-op and Axa enter RSA repair cost fray
Co-operative Insurance and Axa have followed Provident Insurance in disputing subrogated motor repair costs with RSA, Post has learnt.
Editor's Comment: Fairy godmothers and streets paved with gold?
Unfamiliar with the taste of success when it comes to lobbying for reform in the personal injury arena, insurers across the UK may still be waiting for the ‘Bobby Ewing in the shower’ moment.
Interview - Tom Cooper & Matt Munro: Spirit of Enterprise
Matt Munro and Tom Cooper appear to have theMidas touch, with start up Igo4 smashing its five-year plan. Jonathan Swift asks where they go from here.
Lloyd’s set to continue fight for CER relief post-Solvency II
Lloyd's has vowed to fight for tax relief on claims equalisation reserves to be retained beyond the implementation of Solvency II, after its premise was challenged in the Budget.
Penny Black's Insurance Week - 31 March 2010
You can say what you like about them, mused Penny, but insurance people know a good corporate jolly when they see one.
View From The Top: Delivering SME excellence
In the short time since I became SME director at RSA, small to medium-sized businesses have seen some dramatic changes.