Insurance Age - 2010-07-06
Articles in this issue
Budget hits brokers hard
Brokers face a raft of additional costs following the coalition Government's emergency budget.
Light at the end of the FSCS levy tunnel?
It remains unclear whether brokers left reeling by huge increases in the Financial Services Compensation Scheme will be able to seek a retrospective reduction from the regulator.
Uncertainty for aggregator as CEO position remains vacant
Tesco Compare has refused to confirm whether it will fill its vacant chief executive position and has hinted that the site, which was heralded to become a top aggregator, may be marketed solely to the supermarket's customers in the future.
Halliwells in takeover talks amid cash crisis
Halliwells, the insurance litigation specialist, has confirmed it is in talks to sell the business after filing a notice to the courts of its intention to appoint an administrator.
Two FSA heads jump ship following plans to reform
The Financial Services Authority (FSA) has been hit by two senior resignations as the coalition Government announced its plans to reform the regulatory system in the UK.
Industry divided over repercussions of rising IPT
The increase in Insurance Premium Tax (IPT) announced in the Government's emergency Budget has met with mixed reactions.
Acturis teams up with Summit Partners for European focus
Acturis has sold a minority stake in the company to 'growth equity' firm, Summit Partners, as it embarks on a European expansion strategy.
Hastings Direct in no rush to roll out branch network
Hastings Direct has denied speculation that its branch network plans have been shelved following continued delays to the project.
Broker start-ups face tough time ahead due to lack of faith
Broker start-ups face a tough start after new research revealed that nearly one in 10 companies will avoid trading with a business if it is less than a year old.
Endorphin launch backs SMEs with consolidator alternative
Layton Blackham founder, Chris Blackham, has formed a boutique investment house to offer brokers a "realistic financial alternative to the consolidator route".
Fusion founders unveil new risk venture with support from Aspen
Regional brokers will be targeted by a new managing general agent (MGA) led by Fusion founders Kevin Pallett and Geoff Crisp.
Con-Dem health and safety review branded 'waste of time'
Andrew Wigmore, policy director of the Claims Standards Council (CSC) has slammed the Government's health and safety review as a rehash of the Jackson review and a "waste of time, effort and money".
Leaked Brit takeover offer sparks FSA investigation
The Financial Services Authority (FSA) has launched an investigation into the private equity bid for Brit Insurance after details of the approach were leaked before the stock exchange was informed.
L&G creditor product launch to bolster its top five ambitions
Legal & General (L&G) has stated its ambition to become a top five personal lines player as it unveiled plans for a new creditor product for brokers.
Brokers banned by FSA for mishandling clients' money
The Financial Services Authority (FSA) has banned two broker directors - Delwyn Way of Shield Insurance Consultancy and Adrian Shillaker of Griffiths McAlister Insurance Brokers - for failing to adequately protect clients' money and assets.
Moorhouse launches first start-up
Moorhouse Group chairman, Lyndon Wood, claimed that Moorhouse Enterprise gave brokers the flexibility networks lacked as he announced the launch of its first business.
Flurry of broker buys completed before CGT hikes come into play
A raft of broker acquisitions were completed before the rise in Capital Gains Tax (CGT) came into force.
Rate increases stifled by 'fragile' global economy
Commercial rates remained flat during the first quarter of 2010, according to global professional services company Towers Watson.
Talent search is trigger for top staff moving roles in industry
The corporate merry-go-round at the top of the country's insurers is being driven by the need to secure 'top talent' in an attempt to stave off the worst effects of the recession.
Second Insurance 360 insight study about to kick off
This summer, Insurance 360 - Insurance Age's sister industry insight unit - is conducting its second annual study of commercial insurers' performance on service to their brokers.
Product review: Removes end of lease recharging conflict
The products reviewed in this article are rated from one to five, based on the policy's key benefits.
Scheme news: Recent product launches home in on over-50s sector
Recent product enhancements and launches indicate industry appetite in the over-50s sector is increasing.
Schemes news: JLT gives leg up onto property ladder
Jardine Lloyd Thompson (JLT) has announced the launch of a "groundbreaking" new scheme designed to increase mortgage lending to first-time buyers of Bovis Homes properties.
Product launches: Aviva reviews policy wording
Aviva has enhanced its commercial policy documentation to extend the cover and make it more broker friendly.
Product launches: NIG revamps packaged suite
NIG has relaunched its package products suite within its NIG Network broker system, with revamped offerings, a new professionals solution and an improved quote system that aims to generate more competitive pricing.
Schemes news: Trade Protector Plus launched
Evolution Underwriting has launched a fully auto-rated tradesman liability product Trade Protector Plus, underwritten by Groupama Insurance, on its Stingray trading platform.
Schemes news: Multinational cover from Ace
Ace UK has introduced a multinational cover in order to address the compliance challenges faced by companies operating in multiple regulatory regimes.
Risk management/claims: South West dominates safest place to rent list
The south west of England experiences the lowest levels of rented accommodation burglary, according to new research by Endsleigh Let.
Risk management/claims: Stress on a par with accidents in hindering productivity at work
Four out of five (79%) European managers are concerned about work-related stress - making it as important a productivity problem as workplace accidents.
Garwyn product to improve claims defence chances
Brokers could utilise a new review service from Garwyn that aims to save businesses significant sums in compensation and cut the risk of health and safety prosecutions.
Competition: All is not lost
As World Cup fever cools and England mourns yet another crushing defeat, there is still a chance for you to walk away with something more than a heavy heart by taking part in the accumulator competition we are running in association with Equity Red Star
E-commerce: Non-intermediaries set to muscle in on micro market
Brokers that fail to embrace technology-savvy trading risk losing their majority share of the micro commercial market.
E-commerce: Brokers urged to prepare for increase in mobile web access
The insurance industry has been urged to invest in e-commerce as mobile phones are predicted to overtake PCs as the dominant web access device within three years.
E-commerce: LFC Shield plans to double broker base with online quote system
Underwriting agency LFC Shield has launched a new online commercial business quote system, which it hopes will help double its broker base to 400 over the coming year.
E-commerce: Crashing hardware is top business continuity risk
Hardware failure remains the top business continuity risk for UK companies, according to research conducted by Sungard Availability Services.
Agenda: Pricing strategies
The UK commercial insurance market is worth about £15bn and there has been little change in its overall size since 2002. In 2001-2002, the market increased by 75% reversing years of losses into a platform for a long period of profitability. In the…
Your letters: Professionalism aplenty
I was surprised and a little dismayed with your comments about this year's British Insurance Brokers' Association (Biba) conference at Excel in the June issue of Insurance Age.
Your letters: Think ahead
Without doubt, these are hard times for insurance brokers and this makes us all look for new business and revenue streams. However, what it should not lead to is the use of 'quick fix' and other such schemes that undermine the claims process and the…
Your letters: Misfuelling misinformation
I have to take issue with Peter Powell, managing director of Complectus on the subject of misfuelling.
Opinion: Editor's comment - July 2010
Have you received your letter, the one that informs you that your Financial Services Compensation Scheme (FSCS) bill has gone up a bit? "A bit?" I hear you cry. And cry you might for brokers are reporting increases of up to 800%.
Interview: Going the distance
After officially retiring from the industry more than 10 years ago, Miles Emblin returned to insurance as an expert witness. The broking legend tells Louise Meeson why his career has still got a few miles in it yet
Regional power hour - Bristol: When it rains, it pours
This month's power hour, sponsored by Ecclesiastical and held in Bristol, looks at the growing impact of climate change on the industry - particularly that of flooding. Martin Friel reports.
Viewpoint: Principles versus PC
Tony Bridgland wrote a long-running satirical column in Insurance Age from 1992, firing barbed broadsides at insurers and regulators alike and, for seven years, was the insurance watchdog for the Sun newspaper. Now he comes out of semi-retirement to put…
Reportage - composite v specialist: From the tiny ant to the elephant
When it comes to SME business, are the smaller, niche providers naturally a better fit or does the scale and clout of the composites count the most in this market? Martin Friel asks how much size really matters.
Reportage - SME aggregators: See you later, aggregator?
As issues of trading SME business through the aggregator channel are brought to light, Edward Murray asks whether it is too complex a sector to ever be successfully sold in bulk.
Reportage: Sole searching
The recession has led to an increase in sole traders and with such an array to cater for, insurers are struggling to meet their needs. Louise Meeson explores how brokers can identify and service these micro businesses
Reportage - coalition government: A political maze
With the first coalition Government in more than 50 years in power, there is plenty of unease among businesses as to what it will mean for them. Louise Meeson explores the risks SMEs face amid a lack of clear direction
Reportage - Innovation: Innovate to accumulate
Having the courage to do something different can sometimes be difficult as a lack of time and resources can hold businesses back. Mike Butler shares 10 ways to encourage and deliver innovation
Budget marketing: Marketing on a shoestring
Raising your company profile and engaging people within the business doesn't have to cost the earth. Anne Hudson provides tips on how to get the most from your marketing without blowing the budget
Third Parties Act 2010: Ending the uncertainty
After a wait of 80 years, the Third Parties Act has finally been reformed. Nicola Billen looks at the problems with the original and how the new Act shapes up.
News review: June 2010
Online marketplace Ebay was poised to seek a raft of insurance partners as it geared up to launch a financial services offering. Insurance Age's sister title Post learnt that Ebay agreed a partnership with Staffordshire-based intermediary Autonet to help…
Polly C
Polly loves a divisive figure and, quite frankly, the insurance industry could do with more of them. There is no denying that the now infamous Gio Compario is the aggregators' answer to Marmite and Polly was pleased to learn that the gregarious tenor had…
