News
Reich embarks on acquisition spree with Barnett buy
Reich Insurance has completed the acquisition of Bolton-based D Barnett Insurance Brokers.
Claims volume forces FSCS to exceed budget
The cost of running the Financial Services Compensation Scheme’s (FSCS) “business as usual” workload in 2010/11 was £37m, according to its Annual Report and Accounts 2010/11.
Cost of motor insurance inquiry re-opened
The Transport Committee has agreed to re-open its inquiry into the cost of motor insurance, in the light of further concerns about the rising cost of premiums.
Bulletin from Bordeaux: Axa’s global chief sees UK market hardening
In his third special report from Axa's media conference in Bordeaux, Emmanuel Kenning reports on UK commercial market hardening and Axa's global prospects.
Staddon on his way out at Biba
The head of technical services at the British Insurance Brokers’ Association (Biba) is set to depart at the end of the month, Insurance Age understands.
Towergate adds more corporate muscle to board ahead of flotation
Towergate Insurance has announced its intention to appoint Truett Tate as an independent non-executive director.
ECJ ruling will only apply to new contracts
The Treasury has confirmed the ban on the use of gender in underwriting will not affect policies taken out before 21 December 2012.
AMII not letting claims transparency issue drop
The chairman of the Association of Medical Insurance Intermediaries (AMII) has promised that the Association will continue to pursue a resolution to the thorny issue of claims transparency.
Bulletin from Bordeaux: Axa targeting 96% COR
In his second report from Axa's media conference in Bordeaux, Emmanuel Kenning reveals the insurer's plans for broker commissions.
Bulletin from Bordeaux: Axa’s chief economist on the global economy
In a series of special reports, Emmanuel Kenning reports from Axa's Bordeaux media conference.
FarmWeb nabs Arista manager for growth drive
FarmWeb has appointed former Arista employee, Sonya Hawkins, as operations manager.
Ombudsman slams claims companies over PPI scandal
Claims management companies (CMCs) have “exploited” payment protection insurance (PPI) complaints, according to the Financial Ombudsman Service’s (FOS) legal director.
Westinsure hires regional heads to increase membership buy-in
Westinsure has created six regional centres in a bid to maximise member use of the insurer deals it has negotiated.
Axa Personal Lines loses claims trio
Axa Personal Lines has lost three of its senior claims management team.
Incisive Media cleans up at the Biba Awards 2011
Journalists from Insurance Age and sister title Post Magazine topped three categories and received four highly commended awards at the British Insurance Brokers’ Association’s 2011 journalist of the year awards.
Lorica raids rival brokers for key hires
Lorica Insurance Brokers has signalled its intention to accelerate business growth this year with six new hires.
Lack of resources could hinder Bribery Act
As the 2010 Bribery Act comes into force on the 1 July, anti-corruption watchdog Transparency International UK has warned that its enforcement could be undermined by a lack of resource.
FSA chief claims radical approach needed to force change
The current regulator’s chief executive Hector Sants has stated that, over the past eight years, there has been “little or no evidence that any significant change has occurred in the attitude of the financial industry towards its customers”.
Market could save millions with new telematics offering
Claim Witness has launched a new Telematics “Black-Box” solution designed to provide insurers with both first notification of an accident, and driver data analysis to assist with premium adjustment.
FCA will not prevent all firms from failing, says Cole
Margaret Cole, the Financial Services Authority’s (FSA) director of enforcement and financial crime, has spoken at the regulator’s conference on the forthcoming Financial Conduct Authority’s (FCA) approach to regulation.
Update: Axa stands alone in its voluntary ban on referral fees
Insurers have said they are not prepared to follow Axa’s lead in the banning of referral fees for personal injury.
Axa turns its back on referral fees
Axa has made the decision to no longer accept referral fees from personal injury lawyers and has called for whiplash injury reform to eliminate fraud within the industry.
Big Balloon Day takes off with The Insurance Charities
The Insurance Charities has announced its annual fundraiser, centred upon a tethered hot air balloon ride, will be on 2 August 2011.
FCA needs quantum leap to achieve goals
The new Financial Conduct Authority (FCA) must deliver a quantum leap in effective regulation, according to Kay Blair, vice chair of the Financial Services Consumer Panel.