Commission disclosure
Biba slams European timetable for commission disclosure
The British Insurance Brokers’ Association has accused the European Commission of ignoring the views of major financial and insurance bodies in its decision to impose a timetable to mandate disclosure of insurance commissions.
Bluefin boss joins campaign against mandatory commission disclosure
Bluefin boss Stuart Reid has thrown his weight behind a campaign to stop mandatory broker commission disclosure being forced on the industry by Eurocrats, claiming that just 50 of its clients have asked for commission disclosure in the past year.
EU to force broker commission disclosure
The British Insurance Brokers' Association is warning that Europe could force mandatory commission disclosure on brokers by 2019.
Yutree boss Leigh Smart warns broker commission is the 'next misselling scandal'
Leigh Smart, the former Davis Group boss who sold his business to Bluefin in 2007, has warned that brokers' undisclosed commission and fee income could be the next big misselling scandal.
Law Society members encouraged to demand broker commission details
The Law Society is embarking on a change to the way its members are attracted to brokers after stating that being on the society's list of brokers did not necessary make firms 'Law Society approved'.
Willis backs down on contingent commission stance to remain "fully competitive"
Willis has admitted it is to review its practices after revealing it will begin to accept contingent commissions from 1 April in its employee benefits arm.
Broker networks: New kid on the block
As Brokerdrive arrives on the scene, the debate over the merits of the traditional network model is revisited.
Broker claims unearned work transfer payments are endemic in commercial
Brokers are continuing to take secret payments from insurers and not declaring them to clients, according to a specialist commercial intermediary.
Editor's comment: Coming back to bite
Confident words have a nasty habit of coming back to haunt you – as Admiral’s CEO Henry Engelhardt discovered to his cost this week. From stockmarket darling to deep disappointer inside nine months, the motor-focused UK insurer has certainly suffered a…
View from the top: An apple a day
‘We made the buttons on the screen look so good you’ll want to lick them,’ was something Apple founder Steve Jobs once said to a journalist eager to unpick the secrets that underpinned the firm’s meteoric rise to become one of the biggest companies in…
Interview - Simon Burley: Adjusting the image
Simon Burley, the new president of the CILA, promises to transform the image of the claims industry and improve the reputation of loss adjusters in the UK.
Lonmar reimburses underwriters £2m after commission charge error
Lonmar Global Risks have been forced to reimburse marine underwriters with more than £2m in commission after finding excessive levels were applied.
Insurance Insight Q&A: Paul Lindeboom
Broker THB recently made the news with its expansion plans for its Amsterdam office. Insurance Insight caught up with Paul Lindeboom, executive director of THB’s Amsterdam operation, to find out all the news on the new appointments and what the plans are…
Comment- mutuals: Public preference
Mutuals can be overlooked or underused by public bodies, but Allan Guest argues that they are the most cost-effective and appropriate choice for public sector risks.
Career development & CSR: Bishop Skinner raises £64 000 for RNLI
Bluefin Insurance Services’ specialist marine division has raised almost £64 000 for the Royal National Lifeboat Institution in the past year through commission on insurance premiums.
Interview - Rob Brown: The best job in the market
Despite being one to shun the limelight, Rob Brown, chief executive of Aon UK, has no qualms about answering his critics over the firm's carrier charge and contingent commissions, admitting he is pleased with progress to date. Daniel Dunkley reports.
Another Aviva exec departs as Marsh is hit with new lawsuit
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Pru Health adopts new ‘sustainable’ commission model
Pru Health has adopted what the health insurer believes to be a more sustainable and transparent commission model. From April, all small and medium enterprise new business has been written on a 10:10 commission basis, with 10% initial commission and 10%…
Career development & CSR: Risk professionals in demand as pay packets set to rise 25%
Solvency II is driving demand for risk professionals in the insurance industry, with 44% of risk professionals expecting their teams to grow in the next 12 months, according to new research.
Lloyd's & London Market - Remuneration: War of the words
Lloyd's brokers are on the defensive after controversy surrounding commissions and fees re-emerged. But as underwriters demand clarity once and for all, are buyers happy as long as premiums stay low and their own charges stay transparent? Ralph Savage…
Accounting - International standards: standardised accounts
Insurers accounts are prepared on different bases around the world. Neil Coulson looks at plans to make contracts consistent.
View from the top: invest in the long term
"It's tough out there" is probably the most overused phrase of the last year.
Bolt concern over charges
Bosses at Lloyd's insurers have received a letter from director of performance management Tom Bolt, addressing fears over extra broker remuneration charges.
Axa pledges autonomy in mass branch overhaul
Regional brokers have welcomed an overhaul of Axa's "overly bureaucratic" regional strategy, after commercial chief executive Amanda Blanc outlined plans to devolve decision-making power from the insurer's head office.