Insurance Age - 2010-04-08
The 2010 Budget proposals to ease the burden for small to medium-sized enterprises (SMEs) have received a lukewarm reception from the business community.
The Irish Financial Regulator's decision to stop Quinn Insurance writing new business in the UK could kick-start a return to a hard market, industry experts have claimed.
Following an application by the Irish Financial Regulator, the High Court has appointed joint provisional administrators to Quinn Insurance.
Despite the Chancellor's u-turn on the imposition of IPT on intermediary fees, brokers have been warned that they may still apply to add on policies such as legal expenses and breakdown cover.
UK General is prepared to share underwriting risk with potential insurer partners in an attempt to distance itself from the Primary General business model and name.
Personal lines start-up Invicta Insurance Services has made its second acquisition since its launch by former Woodstock Insurance Brokers operations manager Steve Gamage.
Towergate is to close three offices in Glasgow and consolidate staff in one city centre location.
The insurance industry has come under the microscope following allegations that Admiral breached race discrimination laws.
Brokers have been warned that the lack of a clear winner in the UK's forthcoming general election is the biggest threat to the green shoots of economic recovery.
The Financial Services Compensation Scheme (FSCS) has set the 2010/11 general levy at £148m with brokers being hit by more than £60m of that.
The third annual Insurance Race Day is proving a hit with industry movers and shakers keen to mix high-level networking with a spot of racing fun.
The Financial Services Authority (FSA) has unveiled a new "confrontational" supervision strategy following the revelation that fines could treble in size.
Broker Network has denied that it has launched an aggressive marketing campaign specifically targeting members of fellow network TEn in a bid to boost users of its revamped start-up proposition.
Bupa Health and Wellbeing UK could axe up to 300 jobs as part of a restructuring programme.
Fortis UK is to expand its commercial ambitions in the wake of a near £50m drop in profits and ahead of an enforced rebrand.
Legislative changes allowing brokers to distribute motor insurance certificates to customers electronically should be in force by the end of April.
Brokers could benefit from an initiative supported by the Home Office that aims to boost insurance and security for hundreds of thousands of micro and small to medium-sized enterprises (SMEs).
Entertainment insurance broker Doodson Broking Group has revealed its global expansion plans after joining forces with US-based Crossfields Insurance Brokerage.
Experts have warned that obtaining cover for buildings using modern methods of construction (MMC) could become increasingly difficult after insurers were prevented from taking part in a London Assembly planning committee meeting.
CBG Group has revealed it is involved in talks with a 'number' of businesses and expects to finalise an acquisition deal during the first half of 2010.
Allianz UK chief executive, Andrew Torrance, admitted the company may restructure its legal expenses business in light of the Jackson report if the expected impact on the ATE market materialised.
Jardine Lloyd Thompson (JLT) has revealed it is merging its non-advisory division with Thistle Underwriters.
The motorsport risk market has received a boost with the launch of two new facilities.
Lloyd's broker Tasker and Partners has launched a property owners' scheme designed to cater for those who have experienced difficulty obtaining cover in the economic downturn.
Brokers could benefit from more detailed large fire loss data being collated by Risc Authority.
Plant theft claims are set to rise as the London 2012 Olympics approach, the head of the Metropolitan Police's Plant and Agriculture National Intelligence Unit (PANIU) has warned.
General insurance fraud losses could reach £2.5bn in 2010, according to research from Experian.
Brokers that refuse to embrace social media may miss out on significant business opportunities, according to new consumer research.
Brokers must comply with new credit card security standards or risk facing financial penalties in the future, industry experts have warned.
In response to broker feedback, PowerPlace has announced it is to launch a fleet product by June this year.
Specialist brokers have banded together to launch a new website designed to provide insurance for the millions of people who can't secure cover, which they claim is one in four of the population.
Something is happening in the UK private insurance market. Of the top 20 insurers in 2008, more than a third - seven - have been sold or are up for sale. This could either be good or bad news.
Quinn Insurance enters administration
At first glance, the Budget should be a definite positive for brokers.
Retired and living abroad, Kedric Rhodes just can't stay away from the UK broking scene. Liz McMahon finds out what keeps the former managing director of TEn Insurance Services coming back for more
This month's power hour discusses the potential business opportunities of rapidly growing social media and asks how brokers of all shapes and sizes can get involved. Martin Friel reports.
Howard Lickens contemplates what impact a predicted rush of purchaser-driven activity may have on the consolidation market and compares the sustainability of past and present models.
Louise Meeson asks what is on the horizon for the legal expenses sector following the implementation of the Ministry of Justice reforms and explores the implications of the Jackson proposals.
The Ministry of Justice reforms for low value road traffic accident personal injury claims, valued between £1,000 and £10,000, are due to be implemented on 30 April. The live date was deferred from 6 April.
Lord Justice Jackson's final Review of Civil Litigation Costs report was published on 14 January 2010, following a preliminary report in May 2009.
The legal expenses sector has acquired the reputation of being a bit of a bad apple. Liz McMahon examines whether this is justified.
Giving policyholders freedom of choice to select which lawyer handles their BTE claim sounds positive, however Paul Jacobs argues that it could do more harm than good for the legal expenses market
Traditionally, HNW individuals have sought advice from brokers to insure their most valued assets. Louise Meeson asks where the increasingly popular method of buying online leaves the intermediary.
Like its people, the Scottish insurance market is proud to have its own identity - self-sufficient but forming part of the UK. Martin Friel reports from north of the border.
Lorraine Dillett, branch manager, Giles Insurance Brokers.
Steve Kelly, regional manager, Allianz.
George Stubbs, MD, George Stubbs Insurance.
Mark Bourke, director of project risks, Heath Lambert.
A monthly look at who is moving where.
MMA outlined 'phase two' of its commercial roll out with the establishment of three new regional trading centres.
Self-expression is a beautiful thing. Or so it should be.
The UK Broker Awards are open to intermediaries of all sizes. Martin Friel highlights the benefits of being shortlisted and offers tips on crafting that winning submission.
To enter the awards visit www.ukbrokerawards.com
To enter the awards visit www.ukbrokerawards.com