Insurance Age - 2010-11-30
Articles in this issue
E-commerce: Insurers urged not to rush into app development
Insurers have been warned against rushing to create iPhone applications (apps) for basic insurance processes as Aviva became the latest insurer to launch an app.
E-commerce: Failing to enforce 'leaver' processes risks giving access to competitors
Brokers could be leaving their client database wide open to attack from competitors by not implementing effective staff exit strategies, according to industry experts.
E-commerce: Brokers criticised for not carrying out adequate sanction checks
Brokers are grossly underestimating the implications of government guidelines for client screening, according to Open GI.
'Ghost brokers' charged with motor insurance fraud
Three individuals - a man and woman from Kent and a man from west London - have been charged with motor insurance fraud, tax fraud and money laundering with offences totalling £500,000.
Agenda: Insurance and the state
The insurance industry and the state are inextricably entwined with a large number of common interests but competing in a number of areas in looking after the wellbeing of citizens and businesses. On a macro basis, the need for insurance in a communist…
Insurers create London teams to develop broker relationships
Broker focused insurers Groupama Insurances and Ecclesiastical have set up new divisions in London in an effort to win new business.
The interview: Spreading the word
Although officially retired from the industry, Reg Brown remains full of ambition. Liz McMahon talks to the former president of the CII about his community work, formation of the MGAA and, of course, the London Phoenix Orchestra.
Allianz responds to calls for South-west presence
Allianz has responded to regional broker demand by launching a mobile underwriting team in the South West.
Reportage - training delivery: Digital vs. face to face
Traditionally, training has been about face-to-face contact but there has recently been an increase in online offerings, which claim to provide the same quality of tuition with less cost and increased convenience. Edward Murray looks at the pros and cons…
Expo workshop highlights need for Risk Transfer consistency
Brokers must put pressure on the Association of British Insurers (ABI) and individual insurers to adopt a consistent approach to Risk Transfer wordings within their Terms of Business Agreements (TOBA), according to compliance expert Branko Bjelobaba.
Product update: Metals and machinery cover
Aviva has launched two bespoke policies for those working specifically in metals or machinery and equipment.
Product news: Wind farm contract won
Heath Lambert has won the contract to supply all risk services to Scottish wind farm developer Carbon Free.
FSCS review put on back burner
The Financial Services Authority (FSA) has put plans to overhaul the Financial Services Compensation Scheme (FSCS) on hold in the wake of this year's sharp levy hike.
Product undate: Jelf and IMechE join forces
Jelf has entered into an affinity partnership with the Institution of Mechanical Engineers (IMechE).
Referral fee income to stay
Legal experts have predicted that referral fees in personal injury cases will continue to exist in some form even if the Government decides to implement an outright ban on their use.
Product update: Product for boat enthusiasts
Boat and marine insurance provider Towergate Mardon has launched a new travel policy for boat and dinghy enthusiasts.
E-commerce: Besso launches online underwriting facility via MGA
Specialist Lloyd's broker Besso Group has launched what it describes as a unique online commercial underwriting facility via managing general agent (MGA) Gladstone Underwriting.
Entire Choicequote workforce in redundancy consultation
The entire staff and management team at Choicequote have entered a redundancy consultation period just two and a half years after the broker was bought by Groupama.
Power hour: Calling in the experts?
This month's debate, with live interaction from Twitter, ascertains what value MGAs bring to brokers' businesses and the wider market. Are they simply another mouth to feed or the specialists that insurers and brokers need to service a diverse client…
Product update: Sunworld travel disruption
A new product designed to protect travellers against the insolvency of travel agents and tour operators and the disruption caused by increasingly severe weather events, has been launched.
Threat of enforced commission disclosure fades as European bodies follow UK lead
An agreement between European broker and risk management associations is the clearest sign yet that the revised Insurance Mediation Directive (IMD) will opt for commission disclosure on request rather than making it compulsory, according to regulatory…
Your opinions: Public perception
On Twitter this month, BrokingLiz's followers were asked to define how the public saw brokers. Here are some of the best replies:
Polly C - the hottest insurance gossip
Hearing the term restrictive covenant in the bars and restaurants surrounding Leadenhall Street will always make a broker sit up and listen and Polly is no different.
Product update: SMEs protected from insolvency
Trade credit insurance firm Atradius has launched a policy designed specifically to help protect small to medium-sized enterprises (SME) from unexpected insolvencies impacting their supply chain.
Regional review: Way out west
An area that sometimes falls off the radar, Louise Meeson surveys brokers and insurers in Wales and the South West to discover many have been shielded from the worst of the economic crisis.
E-commerce: Powerplace completes '3 As' with Axa addition
Powerplace has secured what it described as the "3 As" after announcing Axa's intention to join its panel of insurers.
Broker Expo 2010 review: Exceeding expectations
A record number of brokers flocked to Coventry's Ricoh Arena to attend last month's Broker Expo. Louise Meeson reports on why the event just keeps on getting better. If you weren't there, here's what you missed
Editor's comment - December 2010
As our front page shows, the prospect of mandatory commission disclosure appears to be receding. I'm not a broker so I can't really make any truly informed comment on the rights or wrongs of this. However, I'm a journalist and, by extension, nosey.
Schemes news: Markel launches D&O hat trick
Markel International has broadened its appetite in the directors' and officers' (D&O) market with the introduction of three new products.
Brokers penetrate regions with further acquisition activity
Acquisition activity has continued to bubble away in the regions where Cullum Capital Ventures (CCV), Barbon Insurance Group, Antur Insurance and BLS Insurance Brokers have all swooped for new businesses.
News review: November 2010
IAG UK-owned broker Barnett & Barnett almost doubled its size to £50m gross written premium, with a move for a controlling stake in Bromley-based commercial and personal lines specialist NBJ.
Bluefin's Elite in run-off to allow greater Platinum focus
Bluefin has announced it is putting its Elite underwriting facility for small to medium-sized enterprise (SME) business into run-off in favour of expanding its existing Platinum product range.
Non-standard risks: When risks don't fit
David Whitaker discusses the trials of obtaining non-standard insurance and explores how brokers can go about placing these risks.
Product review: Optima PI for non-traditional trades
This product has been reviwed by brokers and rated from one to five based on the policy's key benefits.
Viewpoint: Technically speaking
With the success of the iPad and Lloyd's plans to trial the replacement of traditional underwriting slips, Martin Eves asks whether new technology can be incorporated to benefit the insurance industry or if it is more often a case of hype over substance
Your opinions: Chartered Insurance Institute report on BCP highlights disparity in thinking
Insurance Age welcomes your opinions via email, Linked In, the Broker Forum, Twitter and good old-fashioned letters. Send your views to Martin Friel, editor, Insurance Age, VNU House, 32 – 34 Broadwick Street, London, W1A 2HG or email martin.friel…
Reportage - CPD requirements: Under development
No one seems to disagree with the principle of CPD, but why hasn't it proved effective so far in the broking profession? Liz McMahon reports.
Reportage - CII training: The value of training
The CII has an enviable reputation for promoting professionalism in the industry, however there is a sentiment in some parts of the market that it is more concerned with making money. Louise Phillips weighs up the true value of its training structure.
Brokers urged to push law firms to flag up ABS intentions to insurers
Brokers must push clients to alert their insurers if they are planning to become an Alternative Business Structure (ABS) or risk being drawn into claims for non-disclosure, according to legal experts.
Product review: Biosurance R&D for life sciences R&D firms
This product has been reviewed by bbrokers and rated from one to five based on the policy's key benefits.
