News
More judicial reviews but no certainty of success, says RPC
There will be more judicial reviews following the decision by the Financial Services Authority (FSA) to increase the top limit of awards by the Financial Ombudsman Service (FOS) however recent events mean the regulators will be “emboldened” in defending…
Wave of new regulation tops insurance sector risks in poll
The greatest risk facing the insurance industry is the raft of new regulations being introduced simultaneously at international and local levels, according to a new survey.
Judicial reviews will rise after FOS award change, warns law firm
The announcement by the Financial Services Authority (FSA) that the Financial Ombudsman Service's (FOS) maximum binding award is to be increased to £150,000 will lead to an increase in judicial reviews according to lawyers at Browne Jacobson.
Industry reacts to referral fee report
Lawyers and insurers have slammed the recommendation by the Legal Services Board (LSB) to retain referral fees in the personal injury marketplace.
Four new offices for Coversure
Coversure has launched four new franchises in Walsall, Hornchurch near Romford, Rugby and Rusholme near Manchester.
No ban for referral fees, says LSB
The Legal Services Board (LSB) has recommended that referral fees be allowed to continue but with strengthened transparency obligations to manage their impact and prevent abuses.
FSA confirms new consumer complaint handling rules and ups FOS award limit to £150,000
The Financial Services Authority (FSA) has confirmed new complaints handling rules as part of a package of measures designed to drive up standards within the industry.
SSP unveils new solutions following Sector closure
SSP has announced the latest releases of its insurer, managing general agent (MGA) and broker solutions following an £8m development programme during the last 18 months.
Insurance Age blog: Insurance isn't the problem says Galbraith
In a special guest blog, chief executive of the British Insurance Brokers' Association, Eric Galbraith, argues that the industry needs to work together to improve public perception.
Quinn losses reached €888m in 2009
Quinn Insurance lost €644m (£557m) in 2009, it has been revealed taking the overall group’s losses for the year to €888m.
Chartered: A Broker's view: Cowens Survival Capability
In the third of a final part of this series, Post and Insurance Age editor-in-chief Jonathan Swift talks to Grant Scott, an associate director, Cowens Survival Capability about the benefits for a broker in being chartered.
JLT targets landlords with online offering
JLT Specialty (JLT) has launched an online quote and bind facility for property owners' risks aimed primarily at the broker sector.
Pruhealth slams "unsustainable" commission levels and unveils new model
PruHealth has adopted what it believes to be a more sustainable and transparent commission model.
Insolvency rate improves for SMEs
The health of the UK’s micro and small business community improved in April, according to Experian’s latest Insolvency Index.
Willis claims industry first with grey fleet scheme
Willis has launched a pay-as-you-go insurance scheme to address issues arising from allowing staff to drive their own cars on business - the so-called grey fleet.
British Insurance Awards 2011: shortlist announced
Today Post editor-in-chief Jonathan Swift is proud to unveil the shortlist for the 2011 British Insurance Awards.
Biba welcomes government move on signposting
The British Insurance Brokers’ Association (Biba) has given its support to the government’s signposting proposals adding it believed they will maximise the likelihood of older customers finding insurance.
Personal injury costs to approach £10bn, report says
Costs faced by the personal injury insurance industry are likely to rise from £8.4bn in 2010 to £9.7bn by 2014 driven by the growth in the number of motor personal injury claims according to a report by Datamonitor.
Brokers must take heed of Bank of Scotland fine
Brokers have been urged to examine their own complaints procedures following the Bank of Scotland being dealt a £3.5m fine by the Financial Services Authority (FSA) for mishandling complaints.
Insurers issue ash-cloud travel insurance advice
Aviva and Ageas have stated their positions on their travel insurance policies following the recent volcanic eruption in Iceland which has closed parts of the UK airspace.
PPI broker enters administration
The Financial Services Compensation Scheme (FSCS) has confirmed that Wilmslow Financial Services has been put into administration.
Hastings moves into pet insurance market
Hastings Direct has just launched a pet insurance product to target Britain’s 16 million cat and dog owners.
Markel makes management changes
Markel International has made some senior management changes to Markel UK, its retail division, which it said were designed to allow the business to develop retail opportunities worldwide.
Arista establishes permanent presence in East Anglia
Arista Insurance has appointed Stephen Robinson as development underwriter for the East Anglia region.