News
FSA sharpens teeth in advance of new powers of intervention
More financial services businesses are being forced to amend or withdraw advertising material following intervention by the Financial Services Authority (FSA) as it clamps down on misleading adverts, Reynolds Porter Chamberlain (RPC) has claimed.
Prime Professions wins PI contract in problem area
Prime Professions has won the contract to manage the Council for Licensed Conveyancers’ (CLC) Master Policy Scheme from fellow broker CJ Coleman.
Analysts predict a profit surge for Admiral
Admiral is expected to report an increase in revenue and pre-tax profits when it posts half year results on Wednesday, according to reports.
Amlin suffers heavy half year loss
Amlin has announced a loss of £192.3m for the first six months of 2011 (£107.6m profit: 2010) as a result of "unprecedented" catastrophe claims.
New combined product for motor trade market
MMA Insurance has expanded its motor trade range of products with the introduction of a combined offering.
Insurance Age blog: Why broker is best ...
I've got a confession to make. It's got nothing to do with phone hacking or corrupting police officers but nonetheless it is a pretty shameful admission for the editor of an insurance title to make.
Quinn Insurance sale facing October court date
The Irish Independent has reported that policyholders will have the chance to raise any objections to the sale of Quinn Insurance at a court hearing on 4 October.
Confidence in insurance sector drops as losses, regulation and soft market bite
The latest ICAEW/Grant Thornton UK Business Confidence Monitor (BCM) has revealed that a year of catastrophic losses, on-going soft pricing and regulatory uncertainty has hit confidence in the insurance sector hard.
Collinson Insurance moves to grow wholesale division
Collinson Insurance Group has announced the appointment of Steve Scott as wholesale sales and strategy director as it seeks to expand its wholesale division.
Profits down in QBE’s European operations
QBE has revealed a significant drop in European insurance profits to £123m for the first half of 2011 compared to £146m for the same period of 2010.
Insurers must simplify product info, says Unum
Income protection provider Unum has called on the insurance industry to simplify its customer product information.
Regulator puts TCF on the backburner
The Financial Services Authority (FSA) has cancelled its programme of regional workshops on treating customers fairly to concentrate its resources on the move to the new regulatory restructure and the RDR.
FSA chiefs claimed over £60K in expenses last year
Financial Services Authority (FSA) bosses Hector Sants, Adair Turner and Margaret Cole claimed over £60,000 of expenses in 2010.
Chubb juggles personal lines underwriting team
Chubb Insurance has announced four new underwriting appointments in its personal lines team.
Demand for business insurance highlights riot fears
Insurance broker Simply Business says it witnessed a 100% increase in quote requests from independent retail and catering businesses last week following the riots that took place across the country.
CGI sells chunk of MGA in bid to grow broker house book to £100m
Congregational & General Insurance (CGI) has sold a majority share of its subsidiary MGA, Integra Insurance Solutions, to the Hannover Re Group.
Motaquote will still expand branch network, says Lombard
The chief of CCV-owned Motaquote has vowed to continue to expand its branch network despite confirming the closure of seven of its 14 offices in South Wales.
Hastings Direct to recruit 100 extra staff
Hastings Direct has announced a recruitment drive to fill 200 vacancies including 100 new jobs.
Travel insurers face a weekly bill of £5.3m
Figures from the Association of British Insurers (ABI) have revealed that the cost of falling ill abroad has hit a new high with travel insurers helping a record number of people needing emergency medical treatment while overseas.
SRA issues ABS guidance ahead of 2012 licences
The Solicitors Regulation Authority (SRA) has published a guide to help prospective owners of alternative business structures (ABS) understand what steps they will need to take to earn an operating licence.
Brokers suing clients over contested complaints could breach TCF
Brokers that sue clients for complaining could be in breach of Treating Customer Fairly (TCF) principles.
CCV-owned Motaquote shuts half of its offices
Motaquote has closed seven offices in South Wales as a result of the economic downturn with the affected branches being Mountain Ash, Treorchy, Cwmbran, Neath, Ebbw Vale, Risca and Aberdare.
Survey warns on toxic lack of trust
A survey of 1,000 people across the country by Constructaquote.com has found that 42% of employees do not feel secure in their jobs.
Network Spotlight day 12: Smith explains the changes at Westinsure
Mike Smith managing director of Ink Insurance, owners of Westinsure, looks back at the first year in charge post acquisition and claims that other networks put shackles on brokers to stop them from trading in an independent way.