Insurance Age - 2010-05-05
Articles in this issue
2004: Kathryn Moon
In 2004, Kathryn Moon nee Dunsmore became the second individual to accept the Young Broker accolade.
2005: Matthew Pyke
The Biba goalposts changed in 2005 when it extended its under-30 age limit, allowing 35 year old Matthew Pyke to secure the award.
2006: Roshan Choolhun
Roshan Choolhun was 26 when he was named as Biba's number one Young Broker in 2006.
Industry professionalism: Where to now?
The rapidly changing world is presenting fresh challenges for brokers. Keith Hector discusses how they must embrace developments in order to prosper and explores what insurers can do to enhance service.
Solicitors' PI: Quinn: the warning signs
Edward Murray traces Quinn Insurance's somewhat chequered history and asks why regulators allowed it to remain an approved insurer for so long before finally forcing it into administration last month.
Volcano fallout: A reputation turned to ashes
Stranded in Toulouse in the thick of the travel chaos, Martin Friel explains why it is public trust in the insurance industry, as well as the Eyjafjallajokull volcano, that has gone up in smoke.
Helping yourself
Anne Hudson outlines the benefits of commercial insurance e-trading and urges brokers to embrace web self-service or risk being left on the shelf
Product review: Essential PL and EL minus the package
This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits.
Industry movers
A monthly look at who is moving where...
News review: April 2010
Capita Insurance Services set its sights on becoming the largest niche motor broker in the UK, according to the managing director of its most recent acquisition Sureterm Direct.
Polly C
It's been a while since the ghost of Michael Bright has haunted the insurance industry but he recently popped up in the most unexpected of places.
News: SMEs call for post-election stability
The three major parties were accused of treating the small business sector as a "political football" ahead of the general election.
News: Miles Smith case highlights non-disclosure danger
Brokers have been warned of the perils of non-disclosure following a recent court case involving commercial high-risk broker Miles Smith.
News: Powell Insurance MD makes speedy departure
The managing director of Liverpool-based Powell Insurance Brokers, Eliot Powell, has left the company, a mere 18 months after selling up to Oval.
News: Quinn UK ban reversed
Quinn Insurance has been given permission to re-enter the UK market despite an earlier decision by the Irish regulator preventing it from writing new business in the country.
News: Birch appointed to Heath Lambert director role
Heath Lambert has boosted its retail division by appointing former Equity Direct managing director, David Birch, as sales director to oversee the development of personal lines affinity relationships with major global companies and high-street brands.
News: Volcanic dust crisis likely to have little impact on insurance
The insurance industry's exposure to the eruption of the Eyjafjallajökull volcano in Iceland will be limited despite the widespread disruption caused to the aviation industry.
News: Das CEO assures UK exit rumours are 'nonsense'
The chief executive of legal expenses insurer Das has slammed industry speculation that it may be looking to pull out of the UK as "absolute nonsense".
News: RSA set on becoming top three player despite industry doubt
RSA has vowed to get its small to medium-sized enterprise (SME) offering right as the market expressed scepticism that it could deliver on its ambition to become a top three player in the sector.
News: Allianz committed to grow motor book with brokers
Allianz Commercial has signalled its intent to work closely with regional brokers to grow its motor trade book by 11%.
News: Cash plans set to outdo PMI following broker sales boom
The cash plan market could overtake private medical insurance (PMI) in the corporate sector after providers reported significant growth in intermediated sales.
News: You've got to be in it to win it
The 2010 UK Broker Awards are open for entries. Now in their 17th successful year, the awards are the UK's only broker-focused industry event, recognising excellence and innovation in the sector, from small local brokers to strong regional and national…
News: Opinions differ regarding true meaning of acquisition activity
Industry experts have voiced conflicting opinions over whether a recent rise in insurance market acquisitions signalled a return to the frenzied purchasing of the past or was merely a "blip".
News: Brokers given heads up on cottage trade rising potential
Brokers have been urged to take full advantage of the recession-fuelled growth of sole traders as demand for cover for 'cottage trades' increases.
News: Axa makes host of appointments to boost SME
Axa Insurance has made a number of specialist appointments as part of a £200m business development drive to grow its small to medium-sized enterprise (SME) and mid-corporate business.
News: Extended penalty regulations to lead to harsher fines
Brokers have been warned they face heftier fines from the taxman following the introduction of a new penalty regime.
News: LV motor book inspires similar growth throughout business
LV Broker managing director, Phil Bunker, has set a target of £100m gross written premium (GWP) for the insurer's small business book by the end of the year as it announced a dramatic turnaround in its financial performance.
News: Horses and four courses at the Insurance Race Day
The third annual Insurance Race Day at Kempton Park on 20 April gave the insurance industry ample opportunity to catch up with old friends and colleagues and make new business contacts.
News: Motor premiums predicted to rise full throttle through 2010
Although car insurance premiums have stalled in the first quarter of 2010 they are expected to rise steeply during the rest of the year, according to research.
News: Soaring FSA fines underline tough new stance on non-compliance
The Financial Services Authority (FSA) runs the risk of appearing arbitrary as it delivers on its promise to get tough, according to law firm Reynolds Porter Chamberlain (RPC).
Schemes news: Underwriting vehicle covers against modern security perils
An underwriting vehicle has been launched to cater for a 'new generation' of data security exposures that are not currently recognised by many insurers.
Schemes news: Equity to provide 'Honda Happiness' motor cover
Honda UK has appointed Equity Direct Broking (EDB) to administer its car and motorcycle insurance schemes.
Risk Management/claims: Aviva website spreads the benefits of group risk
Aviva UK Health has launched a website to educate brokers on the benefits of selling group risk cover.
Risk management/claims: LMRC-driven limitation of liability guidance published
The British Insurance Brokers' Association (Biba) has published new guidance for brokers to highlight the potential pitfalls associated with limitation of liability clauses.
Risk management/claims: Fraud crackdown calls for travel claims transparency
Insurance experts have called for an industry-wide solution for sharing travel claims information in a bid to fight fraud.
E-commerce: Concern for rural brokers as Broadband Tax plans ditched
Rural broker business could suffer after the Government scrapped Broadband Tax plans designed to enable high-speed internet to be rolled out across the country.
E-commerce: Industry risks financial penalties for breaching data protection
Brokers and insurers are exposing themselves to regulatory fines for not organising their data storage properly, a new study has claimed.
E-commerce: Chesterfield website targets high-risk policyholders
Lloyd's intermediary Chesterfield Insurance Brokers has announced the launch of a new website designed to provide cover for those operating in high-risk territories or with high-risk jobs.
E-commerce: Internet rules UK personal lines distribution market
The internet is fast becoming the "only" way to purchase personal lines insurance in the UK as online customers become less loyal and more price sensitive, according to a recent consumer survey.
E-commerce: Soundbytes
Christian Phillips, contingency underwriter at Beazley Group, tells us a little more about Beazley Access.
Agenda: Going for growth in a tough market
There is little doubt that brokers have got it tough. The anticipated hardening of the market is a long time coming despite bold words by insurers, the economy is only recovering hesitantly with the important construction sector still in the doldrums and…
Your letters: Taking care of the environment
Having read some recent articles about the Environmental Damage (Prevention & Remediation) Regulations, I have to comment that in view of the length of time that the Environmental Liability Directive (ELD) was anticipated, it is amazing how many…
Your letters: A counter-productive strategy
Broking companies that use zero or minus commission rates to make premiums competitive are undermining the sustainability of the insurance broker market.
Opinion: Editor's comment
It's all about surprises this month. There I was trapped in France mulling over how on earth a little Icelandic volcano could cause so much disruption for so many people for so long. How I was going to get back to work and how much would it cost were at…
The Interview: Let the games begin
Peter Cullum has promised to take Matthew Reed's team to the Olympics if they hit their target of £1bn GWP by 2012. Louise Meeson hears why the CEO has every confidence in leading PowerPlace to success.
Regional power hour – Glasgow : The e-factor
This month's regional power hour, sponsored by Ecclesiastical, asks what impact e-trading has had on the market and what concerns exist regarding its future. Liz McMahon reports.
Viewpoint: The iniquity of regulation
Concerned over potentially crippling regulation costs, Barbara Bradshaw suggests the FSA could look internally at its own spending before loading fees onto the insurance industry and, ultimately, the consumer.
Reportage - Biba focus: The Biba benefit
Who, what, when, where, why, how? Martin Friel provides a rundown on what to expect from this year's Biba conference.
Reportage - Biba focus: Reasons why Biba thinks you should be there
There are many reasons why the Biba conference and exhibition has become an unmissable event in the broking calendar. Here are just a few:
Reportage - Biba focus: Exhibitors
Companies exhibiting at Biba 2010.
Reportage - Biba focus: Seminar programme for day one
The Biba 2010 day one seminar programme.
Reportage - Biba focus: Seminar programme for day two
The Biba 2010 day two seminar programme.
Young Broker winners: The magnificent seven
The Biba Young Broker of the Year Award recognises the brightest young stars in the industry. Liz McMahon tracks down the last seven winners to find out how the award has impacted their careers.