Insurance Age - 2011-02-02
Articles in this issue
Schemes news: Difficult medical conditions
Broker Crispin Speers has launched an online travel insurance product for travel agents aimed at offering cover for customers with difficult medical conditions.
Your opinions: Any thoughts on implementation of the Consumer Credit Directive?
Insurance Age welcomes your opinions via email, Linked In, the Broker Forum, Twitter and good old-fashioned letters. Send your views to Martin Friel, editor, Insurance Age, VNU House, 32 - 34 Broadwick Street, London, W1A 2HG, or email martin.friel…
The interview: The charisma in compliance
When Steve White joined Biba in 2004, he brought with him a unique understanding of the application of FSA rules to insurance broking. He has since gone on to be crowned Compliance Personality of the Year 2010. Liz McMahon reports
Majority of firms ill-equipped to cope with new Bribery Act
Nearly two thirds of insurance firms are still not prepared for new anti-bribery legislation set to be enforced in April this year.
Zurich and joint Anglo-Liberty bid leading race for Quinn
Reports in the Irish press have indicated that there are two front runners in the bidding process for Quinn Insurance. The differing articles named Zurich and a joint Anglo Irish Bank and Liberty Mutual bid as leading the way. Previously, Travelers and…
Schemes news: Multi-bike policy offers savings
The Hastings bike team has launched a new multi-bike insurance policy offering riders an opportunity to save when insuring two motorbikes with the broker.
Prime Professions hits back
Prime Professions has rejected claims it is struggling financially and had been in discussions with Aon about a takeover late last year.
No let-up in FSCS levy burden for next two years
Brokers have been warned that the heavy cost of the levy imposed by the Financial Services Compensation Scheme (FSCS) in 2010 could become the norm for the next two years.
Viewpoint: Changing tactics
The market is buzzing with talk about the introduction of variable commission on individual commercial policies. Malcolm Smith asks what the implications will be for brokers, insurers and policyholders.
News review: January 2011
Groupama announced its plans to transfer the Liverpool and Glasgow-based commercial motor accounts of broker Choice Quote to its sister business Bollington, as part of a restructure of its GUK Broking Services arm.
Schemes news: Biba credit role for Perkins Slade
The British Insurance Brokers' Association (Biba) has appointed Perkins Slade as a scheme provider for credit management products and services.
Product review: Healthcare that has all the bases covered
This product has been reviewed by brokers and rated from one to five, based on the policy’s key benefits.
Your opinions: Brokers needed in fight against fraud
Insurance age welcomes your opinions via email, Linked In, the Broker Forum, Twitter and good old-fashioned letters. Send your views to Martin Friel, editor, Insurance Age, VNU House, 32 – 34 Broadwick Street, London, W1A 2HG or email him, martin.friel…
Agenda: KIC 2010 results and 2011 outlook
Letter to president Petrov Arverbeyev Kazakhstan Insurance Company
Polly C - the hottest insurance gossip
Polly was delighted to spend a January evening in the company of the charming communications peeps at BGL Group, owner of Comparethemarket.com among other things.
Schemes news: Vets covered for interruptions
Heath Lambert has launched a comprehensive surgery package to cover business interruption risks which may affect a vet's day-to-day work.
Power hour: A flood defence drought
The coalition has already announced that flood defence spending is to be cut. With the Statement of Principles due to run out in 2013 this month's discussion focuses on the possible impact for insurance. Emmanuel Kenning reports from Manchester.
Product launch: Assurant claims point of sale first
Assurant Solutions has launched accident, sickness and unemployment products (ASU) to be underwritten at the point of sale.
Schemes news: 'Smart scheme' to double Gent & Craig's GWP for dental policies
Northern Ireland broker Gent & Craig Insurances has boosted its presence in dental surgery insurance following the creation of a 'smart scheme' by specialist insurer UK General.
Product launch: Travel, PA and emergency link
A product that unites the handling of personal accident and travel claims and the provision of emergency medical assistance has been launched by Cega Group Services.
Social media: A squeaky clean image
As the potential grows for customers to express their opinion across numerous platforms, so too does the importance of preserving your reputation online. Jon Ralph reports on broker use of social media.
Director's and Officer's: A D&O deluge
Emmanuel Kenning takes an overview of the D&O sector and asks where the market will go next after a host of developments in 2010.
Schemes news: Deposit scheme attracts agents
A tenancy deposit scheme backed by brokers Hamilton Fraser Insurance Services has seen a sharp increase in the number of protections taken out by letting agents.
Product review: Media cover
This product has been reviewed by brokers and rated from one to five, based on the policy’s key benefits.
E-commerce: First for Lloyd's as contract is exchanged on iPad
The first electronic fully-placed contract via iPad was exchanged at Lloyd's between BMS and Catlin using the RI3K platform.
TEn commits to Aldermanbury
TEn Insurance has become the first stand-alone network to sign the Aldermanbury Declaration.
E-commerce: Commercial market struggles to meet fraud prevention demand
As the capacity for online small to medium-sized enterprise (SME) trading increases, the commercial insurance market continues to lag behind in fraud prevention, according to APC underwriting director, Ian Russell.
Norgrove makes swift exit from Travelers Ireland
Less than five months after joining from RSA, Travelers Ireland vice president, Ken Norgrove, has resigned to take up a senior post within Zurich's Irish operation, Insurance Age understands.
Editor's comment - February 2011
As you are no doubt aware from this month's cover story, brokers are facing another year of heavy, heavy levies from the Financial Services Compensation Scheme (FSCS).
Bespoke insurance regulation is top of Biba agenda
The British Insurance Brokers' Association (Biba) has put regulation at the top of its 2011 manifesto agenda as it continues to campaign for a regulatory approach more tailored to its members.
Systems and regulation top brokers' 2011 concerns
Improving systems and regulation are the issues that concern brokers and underwriters most for 2011, according to insurance software specialist Sequel.
Mayer tasked with EMEA focus in London return
Igal Mayer has returned to London as Aviva's chief executive of Europe, Middle East and Africa. The move from CEO of the North American division comes a year after the implementation of the restructure, which saw Mark Hodges appointed to lead UK…
Hastings to recruit 350 to meet expansion plans
Bexhill-based insurance broker Hastings Direct has announced it is to recruit 350 members of staff in 2011.
Reportage - Commercial property: Businesses under the weather
Louise Phillips examines the risks facing commercial property when it comes to weather and how brokers should advise their clients to prepare for the worst and put in place measures to limit damage.
Intermediary receives FSA fine and ban for 'turning blind eye'
The Financial Services Authority (FSA) has fined an intermediary £25,000 and banned him from working in regulated financial services for his part in a scheme that defrauded Markel and QBE, through its agent Amalfi, of more than £2m.
Government awaits LSB report ahead of referral fee decision
The uncertainty around the future of referral fees has persisted despite recent legal judgements indicating that Lord Justice Jackson's recommendations will be adopted.
E-commerce: Policyfast and RSA come to non-EDI agreement
Online wholesaler Policyfast has reached an agreement with RSA to provide online business car and van policies to brokers.
E-commerce: Simply Business reveals ambitious GWP growth plans
Simply Business, has unveiled a gross written premium target of £100m by the end of 2012, up from £41m last year.
Discussion paper gives first hints regarding future philosophy of CPMA
The Financial Services Authority (FSA) has called for a public debate about how it, and in future the proposed Consumer Protection and Markets Authority (CPMA), should pursue the objective of consumer protection and specifically the issue of product…
Reportage - Risk management: The commercial menu
Risk management is often touted as a way in which brokers can differentiate themselves from their competitors. Edward Murray asks why it is not offered to commercial clients as standard.
E-commerce: OFT sends out data sharing warning to insurance industry
The Office of Fair Trading (OFT) must clamp down on anti-competitive data sharing in the insurance industry, according to consumer watchdogs Which and Consumer Focus.
Health news: Pruhealth seeks to broaden its range in wake of SLH aquisition
Pruhealth is targeting general insurance brokers with a range of new healthcare plans following the acquisition of Standard Life Health (SLH) in August last year.
Reportage - Environmental liability: Caring for the environment
As local authorities begin to grasp the new Environmental Damage Regulations, the number of cases ending in legal action looks set to rise. Liz McMahon clarifies how brokers operating in the agricultural sector can protect themselves and their clients.
Health news: MCD trust fund scheme offers brokers alternative route into PMI
Medical Care Direct (MCD), part of the Skipton Group, has launched a scheme which offers brokers an alternative path into the private medial insurance (PMI) sector.
Motorists happy to misrepresent to obtain cheaper car insurance
Research from the Association of British Insurers (ABI) has revealed that the majority of motorists are prepared to misrepresent a risk to get cheaper car insurance.
Reportage - engineering: Keeping things ticking over
With news of cutbacks to the HSE budget, there are fears the engineering inspection sector will suffer. Neil Clutterbuck advises how brokers can ensure their clients' equipment meets UK standards and help reduce risk.
Enforcement welcome but lacks bite says motor industry
The insurance industry has delivered a mixed response to recent government forays into uninsured driving and the cost of insurance in the sector.
