News
Appeal decision good news for surveyors
The Court of Appeal has unanimously agreed that surveyors did not owe a duty of care to a buy-to-let investor in the case of Scullion v Bank of Scotland Plc (t/a Colleys).
Aspen appoints new head of PI
Aspen Insurance has appointed Ed Beckwith as head of its professional indemnity (PI) unit in the UK.
Dual expands into IT sector with Chartis hire
Dual Corporate Risks has appointed Christopher Blake as a professional indemnity (PI) underwriter in its national business unit.
Elite declines to enter solicitors’ PI market
Elite Insurance, has decided against entering the solicitors’ professional indemnity (PI) insurance market this year reversing initial suggestions it would.
Legal experts criticise PRA announcement
The legal sector has roundly criticised the contents of the Financial Services Authority (FSA) and Bank of England’s joint paper describing it as worrying and raising more questions than answers.
Authorities set out PRA approach
The Bank of England and the Financial Services Authority (FSA) have published a joint paper setting out the current thinking on how the future Prudential Regulation Authority (PRA) will approach the supervision of insurers.
Ombudsman calls for more decisive action from FSA
One of the Financial Ombudsman Service’s (FOS) principal ombudsman, Tony Boorman, has questioned the benefits of a complaints-led strategy, calling for a more proactive approach from the regulator.
Continuous Insurance Enforcement commences
The Continuous Insurance Enforcement (CIE) legislation has come into force meaning warning letters will be sent to the registered keepers of uninsured vehicles.
Rural responds to Towergate departures
Rural Insurance has reacted to Towergate’s confirmation that it had poached four of its senior members of staff.
Brokers' final thoughts on Independent's downfall
In our last installment of broker reflection on the 10th anniversary of the collapse of Independent, four brokers reveal what the saga meant to them.
Divided broker sentiment on Indy's fall from grace
As we mark the 10th anniversary of Independent going pop, two brokers divulge their personal and rather different experiences with the insurer.
Ten for TEn as network adds new members
TEn Insurance has signed up 10 new members to its broker network since the start of 2011.
Towergate pinches key players back from Rural
Towergate AIUA, an agricultural underwriting agency based in Harrogate, has confirmed the recruitment of four senior managers from Rural Insurance Group.
Sean Quinn to play starring role in family's High Court drama
Failed insurance tycoon Sean Quinn is set to be included as a defendant in a major High Court battle between his family and Anglo Irish Bank, according to the Irish Independent.
Brokers warn that lessons not learnt from Independent
On the tenth anniversary of the demise of Independent Insurance brokers have expressed their fears that the insurance industry has not learnt from the insurer’s collapse.
Motor market to remain in the red following £2bn loss in 2010
The UK motor market will not return to profitability until 2012 at the earliest as it struggles to recover from the £2bn loss it made in 2010.
Axa reveals new broker team for personal lines
Axa Personal Lines has unveiled a new structure for its intermediary and partners new business team, led by Kirsty Walker, director of sales and partnerships.
Markerstudy unveils commercial broker spree
Markerstudy has revealed that its recent purchase of Blagrove Insurance Brokers is the first purchase in a £100m acquisition spree.
Creating FCA and PRA to cost up to £175m
The Treasury has estimated that the cost of establishing the Prudential Regulation Authority (PRA) and transforming the Financial Services Authority (FSA) into the Financial Conduct Authority (FCA) could be between £115m-£175m.
Government takes next step in reform of FSA
The government has published its financial regulation White Paper and draft Bill. These provide further detail on its proposed reforms to the financial regulatory regime within the UK.
Independent 10 years on - the second broker instalment
In our continuing coverage of broker reflection on the fall of Independent Insurance, Bluefin’s Stuart Reid and Tim Ryan of Ryan Insurance share their thoughts.
HSBC gets extension to PPI complaints procedure
The Financial Services Authority (FSA) has confirmed that it has agreed to temporary arrangements for HSBC to handle payment protection insurance (PPI) complaints.
Independent 10 years on - the broker response
Ahead of the tenth anniversary of Independent Insurance going bust Insurance Age has canvassed opinion in the broker market asking what impact it had and whether the industry has learnt any lessons.
Former Axa chief Philippe Maso pitches up at Aviva
Former Axa Insurance UK CEO Philippe Maso has been appointed CEO of Aviva France.