News
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.
Zurich secures two key financial lines hires
Zurich has appointed Stuart Quinlan as chief underwriting officer, professional indemnity (PI) for Europe, and Alan Moore, as head of financial lines for the UK.
Profits fall at Oxygen
Oxygen Insurance has reported a fall in profits to £95,229 for the year ended 31 December 2010, a dramatic reduction from £707,398 the previous year.
Aspen makes new senior appointment
Aspen Insurance has appointed a new manager of distribution and business development in the UK.
Brokers rate motor top for growth in personal lines
A survey by Mapfre Assistance has rated motor as the product area most likely to drive growth for insurance brokers in personal lines over the next 12 months.
Motor cover for the young to average £3,600 in 2013 says Mazars
Accountancy firm Mazars has predicted motor insurance increases of at least 50% over the next two years for young drivers, taking their typical motor premium up to £3,600.
Solicitor responds to Jack Straw on referral fees
Des Collins, senior partner of Collins Solicitors, has welcomed Jack Straw’s comments on the need to clamp down on claims management companies and ban referral fees.
New Bristol manager for Liberty Mutual
Liberty Mutual Insurance (LMI), the commercial lines division of Liberty Mutual Insurance Europe, has promoted Martino D’Aliesio to the post of regional manager for its Bristol office.
FCA to be tougher and bolder
The Financial Services Authority (FSA) has declared that its successor body, charged with conduct and markets regulation from the end of 2012, will be tougher, bolder and more engaged with consumers.