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Defaqto comments on ABI’s calls for more flood prevention
Defaqto’s Brian Brown, head of insight, commented on the ABI’s calls to reduce flooding. “It is no surprise that the widespread flooding of summer 2007 is having an impact on the home insurance market," he said.
Consumers to reduce insurance cover as credit crunch hits home says Deloitte
Retailers and restaurants may not be the only ones to feel the effects of reduced household spending following the credit crunch. Research by YouGov for Deloitte, the business advisory firm, has found that 26% of consumers who buy insurance from a price…
Insurers could become tougher on claims to help margins in soft market, says Aon
John Bell, head of claims for Aon Risk Services, speaks out about trends in insurer claims handling and in support of Airmic’s agreement to reduce insurers’ use of reservation of rights.
Power of the collective leads to further arrests say IFB
As a result of the joint IFB/Bedfordshire Police operation code named ‘Exhort’ and dawn raids in November 2006 leading to 10 arrests, continued investigations supported by the Insurance Fraud Bureau (IFB) have since led to a further thirty arrests.
ABC Insurance opens Leeds office
ABC Insurance, part of the LV= Group, has further expanded its branch network by opening a new regional office in Leeds. Based on Wellington Place in the business district of Leeds, the branch will underwrite commercial combined insurance for brokers…
Insurance premiums in conditional fee cases could double, says law firm
Insurance companies should brace themselves for higher costs associated with no win, no fee cases following the recent decision of the Court of Appeal in Carver v BAA (20/04/2008), according to insurance specialists at law firm Browne Jacobson.
Heath Lambert Consulting launches new online annuity quotation service
Although consumers have the right to ‘shop around’ to find the best annuity provider to pay their pension income, only one in three investors actually do this.
FSA fines stockbroking firm for weak data security controls
The Financial Services Authority (FSA) has fined Merchant Securities Group (Merchant Securities) for not adequately protecting its customers from the risk of identity fraud. This is the first time the FSA has fined a stockbroking firm for weak data…
One year on from last year’s floods and homeowners need to be prepared
One year on from the floods that devastated many parts of the country, Sir Michael Pitt has highlighted the need for homeowners to take responsibility for their homes and protect their families from flood risk. Following the events which saw 44,600 homes…
New insurance business selects SSP to support future growth
SSP has signed a five year agreement with a new insurance business, Synergy Insurance Services (Synergy), to provide its core insurance IT solution to support the next phase of growth for its ground-breaking insurance product, Synergy MicroCaptiveTM.
Proposed disposal of Culver Insurance Brokers
Protectagroup Acquistions, a subsidiary of Cullum Capital Ventures, has acquired the retail insurance broking subsidiary, Culver Insurance Brokers.
RSA introduces a new line up for brokers – Team RSA
In response to feedback RSA will be introducing dedicated broker focussed teams to support the needs and wants of its brokers.
Driver behaviour causing thousands of days’ downtime for businesses
Business drivers’ behaviour is costing UK companies close to 12,0001 days a year in lost productivity.
Fish re-brands as expansion plans gather pace
Fish Insurance has completed a major overhaul of its corporate identity as part of ambitious expansion plans which are set to see leading disability and independent living insurance specialist treble in size within the next three years.
Now is the time to take healthcare cover, says Chartwell
Chartwell Healthcare, the independent private medical insurance broker, has reported a surge in demand for tailored healthcare products and services. Chartwell Healthcare said that in line with its business strategy, the firm had written over £1m in…
QuestGates launches specialist building validation service
Specialist loss adjuster, Questgate has launched a new division, specifically for building validation service.
Insurance industry must do more on TCF
“The insurance industry still needs to do more to ensure it treats customers fairly if it is to meet the FSA’s TCF deadline in December,” says Mark Roberts, head of financial regulation at the ifs School of Finance.
Jardine Lloyd Thompson acquires Harman Wicks & Swayne
Jardine Lloyd Thompson (JLT) has acquired HWS Holdings (HWS), with its two Lloyd’s Broker subsidiaries Harman Wicks and Swayne Limited, the London based Reinsurance Broker and Harman Wicks & Swayne International, a wholesale provider of SME insurance…
Law firms face increased liability risks, warns Marsh
Marsh has said it believes that the economic downturn in the US and many parts of Europe, caused by the contraction of readily available credit in some spheres, will increase the incidence of professional liability claims against law firms during the…
Sullivan leaves AIG as CEO
Martin Sullivan has resigned his post as CEO of AIG, the insurance giant said in a statement. Current chairman Robert Willumstad has taken over the position as head of the company.
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Marsh establishes Insurance Regulatory & Tax Consulting Practice
Marsh, the world’s leading insurance broker and risk adviser, today announced it has established an Insurance Regulatory and Tax Consulting Practice within the firm’s Global Risk Management Division. The new practice will be led by Praveen Sharma.
Private medical insurance policies lack clarity on cancer care, says charity
Cancer insurance policies offered by PMI providers have been criticised for lack of clarity and ambiguous terminology that may result in people being excluded from treatment, according to a study by Mercer and Cancerbackup, the cancer charity.