Broker
Editor's comment - November 2010
Brokers love a bit of commission don't they? And why not? They work hard and put up with a lot of hassle and jumping through insurer hoops to get it. It's how the market is geared to remunerate brokers, but outsiders have always looked upon the structure…
Product launch: RSA-Volvo union renewed
RSA has renewed its affinity partnership with Volvo Car UK.
Agenda: Commission disclosure
The European Union (EU) is now putting together its consultation paper on a revised Insurance Mediation Directive and this will include their views on commission disclosure.
Product launch: Brokers warned of 'Jack of all trades'
Groupama has warned scheme brokers of the dangers posed by an increase in business diversification.
Polly C - the hottest insurance gossip
Claim Experts' latest board appointment has made Polly chuckle.
Marsh raids Towergate for senior network hires
Marsh has announced that Mike Rogers will replace Bruce Fertnig as head of Marsh ProBroker.
Trade credit MGA launched
Equinox Global has been launched with the aim of proving improved certainty of cover and increased transparency in the credit insurance sector.
Business turnover on the rise
Business turnover in Q3 of this year reached the highest level in almost three years, when the first signs of the banking crisis began to emerge, according to the latest Business Factors Index from Bibby Financial Services.
The Top 100 Independent Brokers 2010
The sixth edition of the Top 100 Independent Brokers supplement, published by Insurance Age in association with Cornell Consulting has thrown up a few surprises.
Aritsa targets South Wales growth with new hire
Commercial lines underwriting specialist Arista Insurance has appointed Mark Chichester as senior underwriter to help develop the South Wales market and enhance its technical proposition to brokers in the area.
Aon Q3 results show 8% fall in UK broking revenue
Aon has announced that income from its risk and insurance brokerage in the UK fell 8% to $148m for the third quarter of 2010 [Q3 2009: $167m].
Insurance group secures major Lloyd's backing
The Prince's Trust Insurance Leadership Group has secured the backing of Lloyd's in a major funding deal for the next three years.
Legal: Social media do’s and don’ts
Facebook, Twitter and LinkedIn are valid tools for public-facing communications, though their ubiquity and ease of use present some dangers, writes Emma Bate.
Oxygen poaches two senior hires from Aon to boost construction arm
Oxygen Insurance Brokers (Oxygen) has hired two new senior brokers as part of its plan to target further growth in the construction related professions.
Willis net income remains flat during first nine months
Willis has reported a drop in net income to $64m for Q3 2010 (Q3 2009: $78m) and net income for the nine months ending 30 September 2010 of $357m, which is the same figure as last year.
Banks could be faced with £5bn PPI compensation costs, say reports
According to Reuters, UK banks could have to pay out £5bn to compensate those that accuse them of mis-selling payment protection insurance (PPI) policies after a US bank warned it faces a big hit.
PB Week: Learning with the young
Recently my 14 year-old nephew came to the CII for a week's work experience, writes Alasdair Stewart, head of business development, general insurance, at the Chartered Insurance Institute.
APC launches fast food insurance offering in Ireland
Commercial insurance underwriting agency APC is launching a bespoke takeaways product designed to cover single or multiple shops and fast food franchises trading in Ireland.
Biba health group gets ex Amii chairman on board as it tackles IPT
The former chairman of the Association of Medical Insurance Intermediaries (Amii) Mike Izzard has joined the Healthcare Focus Group of the British Insurance Brokers’ Association (Biba) along with Wayne Pointin, from Jelf Employee Benefits.
Keelan Westall raids Powerplace again for senior hire
Keelan Westall – part of the property and commercial division of Barbon Insurance Group – has appointed Damian Baxter as head of sales with responsibility for facilitating growth both in existing and previously untapped markets.
UK personal motor market to remain unprofitable for further five years
The UK personal motor market will remain unprofitable until at least 2015, according to a new survey of leading UK insurers by Towers Watson.
Insolvency rate for UK business hovering at 0.08%
The latest Insolvency Index from Experian has revealed an overall improvement in insolvency rates since early 2009.
GDP rises 0.8% in Q3
The UK’s gross domestic product increased by 0.8% in the third quarter of 2010, according to figures released by the Office for National Statistics.