Broker
Deloitte says industry must address issue of brokers selling motor at a loss
Motor insurers need to increase their premiums while maintaining their customer base in order to return to profitability, according to Deloitte.
Majority of brokers say clients unwilling to pay more for environmental products
Nearly half (49.6%) of brokers believe there is a market for insurance products incorporating environmental elements, but only a minority believe customers would be willing to pay a higher premium for them, according to research by Ecclesiastical.
Brokers strive for growth with series of recent acquisitions
Access Insurance, Cullum Capital Ventures (CCV) and LFC Insurance Group have all revealed ambitious growth targets following a spate of recent acquisitions.
E-commerce: Solvency II to make brokers more accountable for data
Brokers with delegated authority may face increasing pressure from insurers to account for the whereabouts of data as the industry prepares to meet Solvency II regulations.
Product launch: Aon water utility product
Aon has launched an insurance product for water utility companies.
E-commerce: Insurers urged to make MTA and renewal options available online
Brokers have called for insurers to include mid-term adjustment (MTA) and renewal facilities as part of their online small commercial offerings.
Product launch: Axa Art pledges speedy service
High-net-worth insurer Axa Art Insurance has committed itself to providing a maximum 24-hour turnaround time when it comes to quoting on new broker business, upon receiving all the necessary information.
Fledgling underwriter expands commercial lines with D&O move
Manchester Underwriting Management (MUM) has unveiled plans to move into the directors' and officers' (D&O) market.
Upping FOS compensation could ruin small brokers
The Financial Services Authority's (FSA) proposal to increase the maximum level of Financial Ombudsman Service (FOS) compensation to £150,000 may force small brokers out of business, legal experts have warned.
Reportage - FSCS redress: Speak now...
Colin Darnell gives practical advice on how brokers can act to mitigate the significantly increased FSCS levy as well as potentially help shape future funding arrangements.
Reportage - Coping with regulation: A regulatory health check
Whether they choose to call in a consultant, turn to their network or go it alone, brokers have a few options available to them when it comes to handling the pressures of regulation. Edward Murray explores the pros and cons of the different approaches.
The sad loss of our publisher and friend Alex Broad
It is with great sadness that we have to announce the devastating news that Alex Broad, publisher of Insurance Age and sister title, Professional Broking, sadly passed away in early October.
Viewpoint: Time to put things right
With poor motor results continuously dismissed as being due to external factors, David Vine asks why insurers choose to ignore the evidence that would enable accurate pricing and, in turn, profit.
Product launch: Frost Cover collaboration
Commercial gritting organisation Gritit and risk management specialist CelsiusPro have announced the release of winter insurance product Frost Cover Certificates.
Analysis of top 100 brokers reveals market share increase
The UK broking market has weathered the economic storm well with the top 100 brokers managing to increase their market share, according to Insurance Age's 2010 Top 100 Independent Brokers supplement.
MGAA to clear 'mist of confusion' surrounding MGAs
The Managing General Agents' Association (MGAA) has claimed it will establish a clear differentiation between prospective members and the broking community as it gears up for launch this month.
Schemes news: Heath Lambert secures two significant affinity contracts
Heath Lambert has scooped two major affinity deals with RAC and Express Newspapers.
Aggregators are criticised for their poor online security
Price comparison sites Confused.com and Comparethemarket.com have been accused of leaving the door open to criminals by sacrificing security in favour of ease of use.
Poor insurer service feeds existence of MGAs
Consistently poor insurer service levels have allowed managing general agents (MGAs) to cement their place in the market, according to one of the latest entrants to the sector.
Risk management/claims: Brokers warned: enforce EL or risk legal action
Brokers that fail to advise clients about environmental liability risks could face legal action following a government crackdown.
Slow insurer processing could mean a backlog of IPT charges
Brokers could be left to foot the bill if insurers choose to apply the Insurance Premium Tax (IPT) increase from the date it hits their books, according to the British Insurance Brokers' Association (Biba).
Product reviews: Flexible and competitive caravan cover
These products have been reviewd by brokers who have rated them from one to five, based on the policy's key benefits.
Health news: Online advice portal to complement launch of EFF
Exeter Friendly has revealed it will shortly go live with an online portal for brokers and advisers following the launch of a new insurance brand.
Select commission uplifts risk breaking new bribery laws
Insurers offering brokers increased commission rates for new business must ensure they have adequate procedures in place or they could risk breaching the Bribery Act 2010, according to legal experts.