News
Gallagher posts 8% revenue rise
Broker also reports increase in net earnings for its broker segment in the first half of 2016.
Biba calls for removal of IPT on telematics products
The increase in the tax has made the hike in car insurance more noticeable according to the trade body.
Liquidator warns Enterprise may not be able to pay claims
Calls on policyholders to seek new cover as he is uncertain the business has enough assets to pay claims.
Supercover partners with Voyager on travel insurance
Insurer aims to provide mobile and gadget insurance products to brokers.
AIG launches D&O Brexit cover
New addition will cover legal costs associated with Brexit for EU citizens in the UK as well as for UK nationals living in EU membership countries.
FCA warns principals they will be accountable for ARs’ mistakes
Regulator informs firms of its expectations after its thematic review into supervision of appointed representatives revealed "significant shortcomings".
Post-settlement evidence can be used to recover pay-outs
Supreme Court decides insurers can use evidence emerging after a settlement to recover pay-outs.
Fraudster sentenced for dishonest home insurance application
Father sentenced to 100 hours of community service after lying about son's criminal convictions.
Enterprise Holdings seeking to build Andeva MGA
Parent company of Enterprise Insurance outlines aims to secure more capacity for Andeva Underwriting.
County Group opens Worthing branch
Broker also relocates HQ in Crewe to larger premises to accommodate further expansion.
UK insurers to support brokers following Enterprise liquidation
Motor insurers fear news could have negative impact on the UK insurance market.
Flint Insurance refinances with RBS
Regional broker plans to grow through acquisitions.
Carole Nash grows turnover to £26.2m
Motor broker sees 77% increase in pre tax profit according to results for 2015.
A & A Group rebrands as Complete Cover Group
The rebrand will provide the firm with the ability to support growth through additional channels.
MPs call for FCA to break up
MPs say regulator is "outdated and unfair" and merits re-examination.
Profits fall 46% for JLT
However revenue grows to £619.4m and profit drop is blamed on investment and exceptional costs.
Hiscox to focus on cyber and e-trade
Group chief underwriting officer Richard Watson says that insurer hopes to continue to grow alongside broker partners as it develops cyber and SME offering.
Enterprise Insurance ordered to stop writing new business
The Gibraltar Financial Services Commission states company is insolvent and that it intends to appoint a liquidator.
Hiscox UK grows GWP to £244.4m
As Hiscox UK and Europe drives down COR to 79.9% for H1 2016 from 86.8% in 2015.
#Insagepeople: 25 to 31 July 2016
Keep abreast of the movers and shakers in the insurance world this week.
Insurance Octopus bought by Verastar
Commercial broker has been acquired for an undisclosed sum by the service provider.
Brokers say FCA's AR attack “fair”
Experts say that brokers taking on appointed representatives need to be aware of the "huge responsibility".
Biba warns industry on using ARs
Businesses must have appropriate processes and supervision in place wherever the AR distribution method is used.
AR network leaders welcome thematic review findings
Biba boss highlights that with an appointed rep a firm “is lending its regulatory permission to someone else and with that lending its name”.