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In this issue, editor Stephanie Denton meets incoming Association of Insurance and Risk Managers chair, Helen-Clare Pope. The head of insurable risk for Tesco thinks the insurance market should “be a true partner” to risk managers.
“Personally I have a very good relationship with my brokers, but I work on an absolutely no surprises basis with clear and transparent communication,” she explains, adding: “And I expect that in return.”
In the news, the Insurance Fraud Bureau has identified property and liability as the product areas it is most likely to extend into after unveiling wide-ranging expansion proposals; industry players warn that the Riot Act compensation cap threatens ‘ghettoisation’ of UK towns and cities, with a £2m turnover limit ‘not reflective’ of small businesses in 2014; claimant representatives have conceded a mooted charge to use the insurer-funded Claims Portal is necessary in order to secure an equal voice on investment and funding, but have warned against the introduction of a hefty fee; and market observers call for fraud reform clarity over ‘fundamental dishonesty’ definition.
Ageas Insurance’s chief executive François Xavier Boisseau and Mike Bruce, chief executive of Bluefin, are in the C-Suite; Boisseau reports on his visit to the Somerset Levels to experience first-hand the experience of the insurer’s customers affected by the floods, while Bruce comes up with an equation for mergers and acquisition success, finding a balance between inspiration and perspiration is necessary. We also have comment from Sportscover's business development director, Paul Thomas, who highlights the vast array of risks the insurance industry is covering at the FIFA World Cup.
We bring you all the news from Post’s 2014 Disaster Risk and Response Forum including Chartered Institute of Loss Adjusters' president Candy Holland calling for faster interim payments after disaster events; Flood Re interim chief executive Tom Woolgrove emphasising that focus is firmly on implementation ahead of its 1 July 2015 start date; and Aviva’s head of underwriting effectiveness Nick Hankin claiming career opportunites are key to attracting top talent.
Our countdown to the 20th British Insurance Awards continues with a Q&A with key figures from major insurers that have experienced wins over the years.
The chief executive of the Association of Insurance and Risk Managers, John Hurrell, goes head to head with Lloyd’s Market Association’s Neil Smith, debating the question of whether the insurance market is sufficiently innovative. Hurrell then takes on Zurich Global Corporate UK’s head of customer, distribution & marketing Caroline Pritchard, over whether increases in commercial rates are necessary.
This year’s Airmic conference, held in Birmingham from 16 to 18 June, will see a record number of attendees descend on the UK’s second city. We catch up with some of the speakers to find out a bit more about them; take a look at the city as it undergoes a major facelift; and ask industry movers and shakers about which city hotspots they’ll be checking out and what they expect from this year’s event.
Enjoy the read!
- Cost of motor claims hits highest ever level
- Ombudsman launches review following undercover investigation
- Munich Re to cut 900 jobs as reinsurer targets profits surge in 2018
- Analysis: A healthy mind: Providing mental healthcare in PMI
- Aviva hires LV and Zurich bosses in commercial growth plan
- Rising Star: Matthew Vamplew, DAS UK Group
- This week in Post: Claims, costs and closures