Insurance Age - 2012-04-11
Articles in this issue
Uncovering fraud
Everyone in the insurance industry is in the frontline in the fight against fraud, explains Simon Arundel
Feeling lucky?
The continuing soft commercial market could be a major threat to the industry, unless lady luck intervenes again, says Tony Cornell
Broking success: Facing the challenge
Berkeley Insurance Group chairman Andrew Bedford, and group chief executive Tim Maxted explain their approach to the soft market and the importance of expertise, reports Caitlin Morrison
Market moves: Ready for regime change
It was all about big names and big moves last month. The Financial Services Authority (FSA) lost two big players as it approaches the end of its reign as regulator.
Editor’s letter - April 2012
“It’s fair to say that old Hector didn’t have the easiest of rides”
The new breed of consolidator
With management changes at some of the country’s largest brokers, the consolidator model is evolving
Sants departure gets mixed reaction
Hector Sants has announced his intention to leave the Financial Services Authority (FSA) for the second time, and this time it looks like it is actually going to happen.
FSA warns brokers over mis-selling of add-ons
Regulator claims customers may have been sold add-ons and extras they neither want nor need
Products: Auto-rated combined offering will boost “cross-selling potential”, says Acturis
Acturis has introduced a new “mix and match” auto-rated professional combined product combining professional indemnity (PI), directors’ and officers’ (D&O) and office and liability cover to the open market.
Profile: Banking on growth
Towergate chief executive Mark Hodges tells Martin Friel about his plans to transform the entrepreneurial and acquisitive company into a thriving corporate (“with a little ‘c’”) entity
Reportage: The route to scheme riches
Enhanced commission and profit shares from insurers can mean schemes could be a treasure trove for brokers with a good idea, writes Rachel Gordon
Power hour: Where there’s a claim...
Successfully handling claims means picking the right ones to defend and getting to grips with risk managment, reports Emmanuel Kenning
The new breed of consolidator
With management changes at some of the country’s largest brokers, the consolidator model is evolving
Brokers increase their PI footprint
Professional indemnity market shows no sign of slow down and attracts slew of new entrants
Aviva plan to go regional will “speed up decision-making”
Corporate business underwriting to be conducted regionally in Glasgow, Leeds, Manchester and Birmingham
Products roundup: Products aimed at gamut of professions
The fixation the market has on liability products and all things professional continues this month with several such products hitting the market and a new landowners’ liability product assessed by a stalwart of our broker product review panel, Bluefin’s…
Products: Builders to benefit from latent defects product
The National Register of Warranted Builders, a subsidiary of the Federation of Master Builders (FMB), has launched a new latent defects product through the Build Assure brand.
Products: Groupama adds 200 trades to its online commercial trade product
Groupama has launched a miscellaneous trades facility for its online commercial trade product, Optima Business Plus.
Products: Rural pursues growth and signs new deals
Rural Insurance has signed three new deals as it continues on its growth drive for 2012.
Review: Lay of the land
CX Land Liability: This product has been reviewed by brokers and rated from one to five stars, based on the policy’s key benefits. * = Poor ** = Average *** = Good **** = Very good ***** = Excellent
Products: Ink offers new excess protector product
Ink Insurance has teamed up with Adding1 to develop a new excess protector insurance product.
Products: Oxford Insurance Brokers offers IFAs two-year PI deal
Oxford Insurance Brokers Limited (OIB) is offering IFAs a new two year professional indemnity deal as it looks to take advantage of opportunities arising from the Retail Distribution Review and a reduction in capacity in the market.
A meaty problem for brokers
Brokers are just as responsible for bad claims service as food retailers are for the horsemeat scandal, but Tony Cornell has a plan for how Biba can tackle it
Broking success: Planning on growth
County Insurance’s managing director Dave Clapp explains his growth plans for the Crewe-based broker and how it is ready for the changing regulatory landscape. Caitlin Morrison reports
In-depth: Sticking with schemes
More brokers than ever are trying their hands at schemes, but even those with experience have to avoid the pitfalls on the path to success, explains Andrew Pearce
In-depth: Battling for schemes success
Getting a scheme off the ground can be a tough challenge, but with the right preparation and backing from a supportive provider, schemes can be very lucrative for brokers, writes Caitlin Morrison
Maintaining morale
After the news that Aviva is freezing pay and not paying annual bonuses to executive directors, Peter Done looks at what brokers can do to maintain staff morale in the tough economic climate
Profile: You’re hired
After a long search and a series of demanding tasks, Allianz’s Chris Hanks has found his Broker Apprentice. Emmanuel Kenning reports
Power hour: Ready for regulation?
With a raft of new regulation in the pipeline, our panel of experts discusses whether brokers and insurers are ready for the upcoming changes. Andrew Pearce reports
Market moves: Business as usual?
The appointment we’ve all been waiting for was finally announced last month, as the new Biba boss was revealed – and after all the gossip and speculation it’s hard to tell whether anyone was entirely surprised to discover that the new Eric Galbraith is…
Products: Partners in products
As the song says one may be able to stand alone in the dark but two can make the light shine through.
Products: Market focuses on online potential
Harnessing the power of technology has been a key theme across the market in the past few weeks. Perhaps most eye-catching were the pronouncements after the acquisition of PowerPlace by Open GI. Nick Giddings, CEO of PowerPlace, revealed that the new…
Products: Media specialist marks silver jubilee with policy update
Media insurance brokers, Allan Chapman & James, celebrated its silver jubilee with increased cover for its flagship policy.
Products: Axa and Ageas turn to partnerships to offer brokers enhanced products
Both Axa and Ageas decided to go down the partnership route last month to expand their offerings to brokers.
Products: Lorega partners with Gallaghers and Towergate
Lorega announced two partnership deals within just a few days at the end of February and beginning of March. Firstly it teamed up with Gallagher Heath, allowing the broker to white-label its range of loss recovery insurance products and launch Gallagher…
Products: Target schemes business with Birmingham and Leeds masterclasses
There is still time to get involved with Insurance Age’s masterclass on schemes.
Expertise Live Video: D&O under discussion
The first Expertise Live event of 2013, in association with Zurich, was held in Birmingham where broker experts focused on the directors’ and officers’ (D&O) liability insurance market.
Editor’s letter - April 2013
“Steve’s standing in the market is such that brokers have fallen over themselves to congratulate him and praise his grasp of regulatory matters”
Market reacts to Aviva and Willis Networks split
Network pressures symptomatic of insurer scrutiny on profitability, say brokers
FSA to probe insurers’ use of investigators
Practice of hiring private investigators to look into claims subject of regulator review
Meet the new boss
Biba appoints Steve White, current head of compliance and training, as its new chief executive