Post - 2011-10-27
Articles in this issue
Damages & asbestos: Contrast and compare
Two personal injury compensation disputes have used judicial review proceedings to challenge the substance of the law. Neither were successful but will they still have consequences?
Broking supplement - Interview Toby Esser: Expansive thinking
Toby Esser talks about striking serious deals, his acquisitive ambitions and plans to penalise paper-lovers
Rating factors - Age: Age-old dilemma
After losing the battle to use gender as a rating factor, could the insurance industry be facing a new threat as age falls under the spotlight?
Fraud event: Gadget fraud on the rise as consumers look to upgrade
Insurers have been urged to “up the ante” against the rising number of younger consumers engaging in household fraud in order to gain a gadget upgrade.
Fraud event: Disagreement over point to target fraudsters
Application fraudsters are ‘hiding behind the web’ but disagreement reigns over whether to target scammers at the point of quote or sale. Panellist Steve Sweeney, head of motor insurance at Money Supermarket, said his firm is working towards stamping out…
Fraud event: ‘Fronting’ definition must be agreed before IFR and Bill introduced
The insurance industry must agree a definition and approach towards ‘fronting’ before the introduction of the Insurance Fraud Register and the Consumer Insurance Bill comes into force, delegates were warned.
Interview - David McMillan: Bullish about the business
Chief executive of Aviva UKGI, David McMillan is convinced the insurer has turned a corner and is on the path to greater profitability and growth
Market moves: All change at Zurich and Willis
Following a slow period, large insurers made a number of key appointments this week, including major moves at Zurich, Allianz and RSA.
Career development news: LV creates 150 jobs
LV has created 150 new roles with the expansion of its office in Brentwood. The site already employs 200 people and, with plans to enlarge its claims division, the insurer expects to add 45 new staff before the end of the year.
Aviva to axe 950 jobs as Dublin-based operation set to be dismantled
The decision to dismantle Aviva’s Dublin-based European holding company with the loss of up to 950 jobs has been blamed on “economic and regulatory burdens”.
ABI mulls development of no-claims discount register
The Association of British Insurers is considering setting up a no-claims discount register in the wake of the creation of the industry’s Insurance Fraud Register.
McManus Towergate move rubbished as Wilkinson wins Willis UK CEO role
Market speculation suggests that outgoing Willis UK & Ireland chief executive Brendan McManus will target a role at another major broker, after well-placed sources rubbished rumours linking him with a move to Towergate.
Westinsure pushes ‘alliance’ angle to entice brokers
Westinsure is set to rebrand under the slogan ‘Together we are stronger’ at its exhibition in January 2012, as it looks to become the market-leading broker network.
$3bn Thai flood losses set to escalate as city centre inundation begins
Loss adjusters have told Post there is a “whiff of Katrina” about the Thailand floods, following predictions the disaster could cost more than the estimated $3.3bn (£2.1bn) insured losses.
Combined Insurance bosses quit amid redundancy row
The European managing director and the head of European operations at Combined Insurance have left the company.
Editor's comment: Maelstroms on multiple fronts
This week has seen maelstroms on multiple fronts. As the devastation and mass fatalities caused by the Turkish earthquake continue to dominate news headlines, the insurance industry is bracing itself for a different bout of turmoil prompted by another…
Fraud event: Top London cop in tune with fraud fears
City of London Police Commander Ian Dyson has admitted that if the insurance industry had not stumped up the cash for the new dedicated counter-fraud unit, it would not have been formed. He also empathised with insurers’ fears that funding the unit could…
News analysis: IFB’s three-year strategy wins financial backing from insurers
The Insurance Fraud Bureau is to more than double in size in its crackdown on professional enablers.
North of the Border: Clarification over mesothelioma awards
In Elizabeth Wolff & Others v John Moulds (Kilmarnock) & Weir Construction (2011), Lord Doherty considers recent jury and judicial awards in fatal claims and clarifies the value of section 1(4) awards in a mesothelioma claim, under the Damages (Scotland)…
Your say: Tackling fire remains a priority
You are right to think that both this government and the last have not been receptive to arguments by the insurance industry and sprinkler lobby pressing for a more widespread fitting of sprinkler systems.
Career development news: HSBC staff complete CII diplomas
More than 130 HSBC staff have successfully completed the Chartered Insurance Institute’s diploma in financial planning and diploma in regulated financial planning.
Career development news: Ace to sponsor D&O product workshop
Ace is set to sponsor a free educational workshop aimed at helping educate brokers about directors’ and officers’ liabilities products.
Penny Black’s insurance week
Penny’s long-awaited trip to the British Academy of Film and Television Arts with Brit Insurance finally took place this week but the people at Bafta in Piccadilly must have missed the memo.
Post magazine – 27 October 2011
This week the Post team reports on feelings of a “whiff of Katrina” among loss adjusters about the Thailand floods that have already inundated two industrial estates in Bangkok - affecting multinational firms including Apple and Ford Motors.