Insurance Age - 2010-06-02
The deadline is approaching to get your entries in for the 2010 UK Broker Awards, the only industry awards dedicated to the broking community. Entries have been coming in from all over the country and across the categories. Although the volume has been…
QBE looks set to double the size of its commercial property book as it closes in on a deal that could see it snatch £40m worth of business from Axa, Insurance Age has learnt.
Brokers have been warned against relying too heavily on disclaimers to protect themselves from breaching their duty of care, in light of the recent Quinn scare.
The number of Financial Ombudsman Service (FOS) insurance disputes has increased by 38% largely due to a surge in complaints about payment protection insurance (PPI).
Axa's head of personal lines intermediary has slammed brokers that make money from the "immoral" practice of claims farming, warning that insurers would penalise those who were heavily involved.
The Competition Commission (CC) is to return to the issue of payment protection insurance (PPI) and is once again pushing for a point-of-sale ban.
Aviva has taken steps to try to win back independent intermediaries by shuffling its regional management structure and vowing to improve its personal lines pricing model.
Last summer, Insurance 360 - the sister industry insight unit of Insurance Age, Post and Professional Broking - carried out its first annual Business Insurers Insight Study.
Willis chief executive and chairman, Joe Plumeri, has warned the broking industry that 'freak' occurrences are increasing in frequency and that the industry must adapt to this reality to survive.
Towergate chief executive, Peter Cullum, has predicted that the UK is set for two years of "unbelievable change" under the new coalition Government with the economy and regulation set to top the agenda.
The chief executive of the British Insurance Brokers' Association (Biba) has called on the new coalition Government to avoid taking the "easy option" of raising taxes to cut the deficit.
In another tumultuous month for Quinn Insurance, 900 job losses were identified, chief executive, Colin Morgan, quit and the American insurer, Liberty Mutual, expressed an interest in acquiring the company.
Traditional private medical insurance (PMI) providers National Friendly and Bupa are set to challenge the cash plan market with the launch of hybrid products, following a surge in intermediated sales in the sector.
Brokers looking to stand out in the private medical insurance (PMI) arena can now offer an add-on product independently from insurers.
Broker-only insurer NIG could face further cuts following Royal Bank of Scotland Insurance's (RBSI) announcement that it is axing up to 2,000 roles across all of its brands over the coming year.
Fortis UK has confirmed it will complete its rebrand to Ageas by the first quarter of 2011, after announcing a £1.8m loss during Q1 2010 (Q1 2009: £4m profit).
Allianz chief executive, Andrew Torrance, has outlined plans to push through rate increases in commercial after admitting that the current level of return was "not terribly attractive".
Towergate executive chairman, Peter Cullum, has claimed that the company has refused to follow the market's "kamikaze" approach to rates.
The recent flurry of insurance market acquisitions has continued with a number of broker buys.
Regional broker expansion has continued with Oxygen Insurance Brokers announcing the opening of an office in Bristol, Giles growing its Welsh head office and Henderson Insurance Brokers boosting its Manchester hub.
As England, the only home nation to appear at the South Africa World Cup, prepares for kick-off, we are running an accumulator competition in association with Equity Red Star.
Commercial affinity schemes are growing in popularity but increased competition could have a detrimental impact on rates.
APC has rolled out specialist cover for estate agents and letting agents to its entire agency base.
Commercial brokers risk imprisonment and unlimited fines if they do not strengthen their anti-bribery and corruption systems and controls.
Co-operative Legal Services (CLS) has launched a one-call accident management service for brokers and insurers.
Halifax has been named as the UK's top business crime hotspot for the second consecutive year, with one in 15 companies having made a claim last year compared with a national average of one in 37.
Broker insurer MMA Insurance has made its Master Tradesman and offices and surgeries products available online to brokers via the SSP platform.
The re-launch of Coverzones, which was recently saved from administration, could trigger greater integration between commercial and personal aggregators, following overtures from its chief executive.
Aviva claims to have "revolutionised" personal lines pricing after joining with Open GI to launch a real-time rating solution for brokers.
An online system that pledges to slash turnaround times for mid to high-net-worth motor quotes by more than half has been introduced to the market.
A new customer relationship management (CRM) solution has been released, which aims to maximise broker sales and cut the time it takes to train new staff.
The Quinn saga came as no surprise to most of us in the industry. The position at the time of writing is that the UK business of Quinn is in run-off and the Irish parent company is in administration.
Who or what is Biba? Thousands of visitors to Excel last week are none the wiser - I don't mean delegates to the Biba conference, but the huge audience of potential insurance customers who also happened to be in the vicinity. To the average passer by,…
From theBroker Forum, May http://forum.broking.co.uk
This years' British Insurance Brokers' Conference (Biba) was all about professionalism but I have to report that there wasn't much on show as far as I could see.
For Phil Scarrett, managing the network operation at Willis is all about striking a balance between the need for growth and maintaining the community spirit. He tells Martin Friel how he keeps everyone happy.
This month's power hour sees our panel of experts discuss the fallout for brokers following the problems at Quinn Insurance. Liz McMahon reports.
There are sound business reason why clients should be seeking risk management advice - so brokers should overcome their concerns and provide it for them, says Andy Hawkes.
Unlike our continental cousins, buying insurance online has become de rigeur for the UK public - but it is not all doom and gloom for personal lines brokers. Louise Meeson reports on the state of market.
The birth of the direct line in 1985 left many predicting the death of the personal lines broker - but 25 years is a long time and, in true entrepreneurial spirit, brokers have defied the sceptics by adapting to survive. The struggle has produced many…
InsureCancer's award-winning approach to providing travel insurance for cancer sufferers is changing perceptions of this sensitive market. Dr Krish Shastri tells Liz McMahon how the company manages to underwrite the majority of cases and about plans to…
Edward Murray looks at how upgrading standard policies to mid and high net worth can benefit both the client and broker.
The self-sustaining and refreshingly honest nature of the Midlands insurance market mean it is well-equipped to ride out these difficult times, reports Martin Friel.
Former insurance broker turned MP, Andrew Stephenson, described being an intermediary under the labour Government as a "nightmare".
The British Insurance Brokers Association's (Biba) annual conference always provides Polly with a plethora of titbits and this year was certainly no different. It was a gamble to hold it in London as there had been fears that the accompanying social…
Allianz Insurance has landed a five-year contract to underwrite wholesale broker R K Harrison's print and engineering schemes as the broker looks to broaden its appetite in the sector.
HSB Engineering Insurance has launched an equipment breakdown product that aims to address the green issues faced by businesses, helping them reduce their carbon footprint and gain energy efficiency savings.
Fortis UK has introduced Semploy Extra following a review of its existing Semploy offering - a liability-based product for the self-employed.
Claims management solutions business Complectus has developed a product with Axa Assistance, which aims to get drivers mobile again after misfuelling their vehicle.
Towergate-owned British Insurance has launched a new mortgage payment protection insurance policy.
Broker ratings: The products reviewed here by brokers are rated from one to five, based on the policy’s key benefits.
Actress Joanna Lumley OBE captivated a packed auditorium for well over an hour during the closing session of this year's Biba conference.