News
Axa and Zurich reorganise management and operations
Axa and Zurich have revealed the results of internal restructures.
FSA regulatory approach under threat as BBA launches review
The Financial Services Authority's (FSA) principles-based approach to regulation has come under threat from a legal challenge brought by the British Bankers' Association (BBA).
Brokers' expansion plans face lengthy delays
The Financial Services Authority (FSA) is taking more than twice as long to approve regulated firms' expansion plans, known as a variation of permission.
RBSI gives green light to Devitt Insurance Services MBO
RBS Insurance (RBSI) has agreed to sell Devitt Insurance Services to three of its existing senior management team, led by managing director William Hughes.
News review: December
A brief round-up of December's news.
Westinsure network moves east while competitors eye members
Rival networks have begun to circle Westinsure in the wake of a series of upheavals since its takeover by Ink Underwriting.
Lord Levene calls for cover of digital dangers to climb higher on businesses' priority lists in 2011
Many companies are still unintentionally exposed to digital risks and mistakenly believe they have coverage from their existing insurance, according to a new report from Lloyd's.
Biba to issue brand guidance after old name is hijacked online
The British Insurance Brokers Association (Biba) has warned members of the threat of online brand hijacking after taking legal action to protect its own name.
Solicitor watchdog's PI plans will create an 'uneven playing field'
A new proposal from the Solicitors' Regulation Authority (SRA) to shake up the rules around professional indemnity (PI) requirements could create an "uneven playing field" within the insurance broking community, experts have warned.
New credit rating service Litmus Analysis enters the financial market
A new credit ratings analysis service, which aims to clarify how ratings are calculated, has been launched.
Polly C - the hottest insurance gossip
The Swinton Christmas shindig at the Waldorf saw the industry's great and good flock to quaff champagne and discuss the highs and lows of 2010.
New regulatory bodies need more power, says Sants
If it is to succeed in its goals, the new UK financial regulatory system will need to wield more power than the existing regulator.
Schemes news: First of its kind PL and EL scheme for ABRS members
Ravenhall Group's rural division has launched a public and employers' combined liability scheme for the Association of British Riding Schools' (ABRS) members.
Merry Christmas and a happy New Year
All the team at Insurance Age wish you a happy Christmas and peaceful New Year.
Only 5% of companies have adequate product recall cover, warns Cunningham Lindsey
Loss adjuster Cunningham Lindsey has announced a ten-fold increase in the number of product recall claims it has handled in the past year and warned that most companies do not have adequate cover in place.
Santa’s insurance cost falls to £25m, according to Aon
While Santa has been dusting off his sleigh, making sure the reindeer are in tip-top shape and asking his elves to put in overtime to finish off all the presents to make sure every child across the globe gets a present, Aon has been calculating the cost…
Business insolvencies fall in November but research shows North – South divide
The latest Insolvency Index from Experian has revealed that the rate of business insolvencies fell to 0.07% in November 2010, down from 0.09% in November 2009, with businesses in southern England faring better than their northern counterparts.
Upheaval at Westinsure
Rival networks have begun to circle Westinsure in the wake of a series of upheavals since its takeover by Ink Underwriting.
Giles reveals turnover and earnings drop
The Giles Group’s full year results for the year ended 31 August 2010 has revealed a 3% drop in turnover to £70m (2009: £72.1m).
Cullum's Towergate shareholding to drop below 50%
Peter Cullum will lose his majority shareholding in Towergate Partnership as part of a new equity deal, Insurance Age understands.
FSA fines more than double to record £88m
The Financial Services Authority (FSA) handed down a record breaking £88.4m in fines in 2010 (to December 20), a growth of 154% from last year’s £34.8m, according to City law firm Reynolds Porter Chamberlain (RPC).
Car claim volumes double as snow and ice turn UK roads into ‘fairground dodgems’, says AA
Snow and ice have contributed to a 100 per cent increase in car insurance claims compared to an ordinary Monday in December, AA Insurance has reported.
Oval scoops IRM ‘Insurance Broker of the Year’ award
Oval Insurance Broking has received the ‘Insurance Broker of the Year’ award from The Institute of Risk Management.
FSA confirms training and competence regime changes
The Financial Services Authority (FSA) has published final rules to strengthen training and competence requirements for all individuals carrying out customer facing regulated retail activities.