News
Only one in ten automatically renew car insurance
UK consumers are the most determined to shop around for a good deal on insurance, and the least likely to stay loyal, according to Datamonitor.
Cooper Gay CEO resigns
Cooper Gay Swett & Crawford Group (CGSC) has announced that the company has accepted the resignation of Jim Summers, CEO of the Group’s UK based Lloyd’s broker, Cooper Gay & Co.
Regulator puts brakes on FSCS review
The Financial Services Authority (FSA) has put on hold plans to overhaul the Financial Services Compensation Scheme (FSCS) in the wake of this year’s sharp levy hike.
News: Large-scale pension reforms loom
If you do not have a pension scheme in place, then now is the time to act, as a series of state-mandated reforms is set to bite following the Spending Review.
Alex Broad
It is with great sadness we announce the devastating news that Alex Broad, publisher of PB and sister title Insurance Age died in early October.
THB sells motorsport division
The Board of THB Group has reached agreement to sell THB Clowes to the Lloyd's broker Ellis Clowes & Company, headed by Karen Ellis.
Antur acquires broker DW Burrows
Welsh broker Antur Insurance has announced its acquisition of Barry-based broker, DW Burrows, in a bid to strengthen its competitive edge in South East Wales.
One in four pay off other driver after crash
A quarter of drivers have avoided using their motor insurance by giving money to a driver they have crashed into to fix the damage, according to website Myvouchercodes.co.uk
Deloitte says industry must address issue of brokers selling motor at a loss
Motor insurers need to increase their premiums while maintaining their customer base in order to return to profitability, according to Deloitte.
Majority of brokers say clients unwilling to pay more for environmental products
Nearly half (49.6%) of brokers believe there is a market for insurance products incorporating environmental elements, but only a minority believe customers would be willing to pay a higher premium for them, according to research by Ecclesiastical.
Aviva's Q3 UK GI premium soars 12%
In its UK general insurance business, Aviva has reported a 12% rise in net written premiums to £1.05bn in Q3, compared to £927m in the same period last year.
Brokers strive for growth with series of recent acquisitions
Access Insurance, Cullum Capital Ventures (CCV) and LFC Insurance Group have all revealed ambitious growth targets following a spate of recent acquisitions.
Quinn case sheds light on periods of limitation
A recent High Court ruling in favour of Quinn Insurance has clarified the law regarding the timeframe for submitting claims where an insurer has denied liability, according to law firm Browne Jacobson.
Fledgling underwriter expands commercial lines with D&O move
Manchester Underwriting Management (MUM) has unveiled plans to move into the directors' and officers' (D&O) market.
Upping FOS compensation could ruin small brokers
The Financial Services Authority's (FSA) proposal to increase the maximum level of Financial Ombudsman Service (FOS) compensation to £150,000 may force small brokers out of business, legal experts have warned.
The sad loss of our publisher and friend Alex Broad
It is with great sadness that we have to announce the devastating news that Alex Broad, publisher of Insurance Age and sister title, Professional Broking, sadly passed away in early October.
Plea for MoJ to get tough on lawyers' PI abuse
Allianz has called for the Ministry of Justice (MoJ) to crack down on claimant lawyers it claims have abused the new personal injury claims system.
Staff 'haemorrhaging' could leave FSA unable to cope with reform
Doubts have been raised over whether the Financial Services Authority (FSA) has the resource to cope with impending regulatory reform as the consultation period for the plans came to an end.
ECJ deliberates use of gender in risk assessment
Concerns have been raised that the cost and availability of insurance could be threatened if an opinion by the Advocate General on gender-based pricing is upheld by the European Court of Justice (ECJ).
Analysis of top 100 brokers reveals market share increase
The UK broking market has weathered the economic storm well with the top 100 brokers managing to increase their market share, according to Insurance Age's 2010 Top 100 Independent Brokers supplement.
MGAA to clear 'mist of confusion' surrounding MGAs
The Managing General Agents' Association (MGAA) has claimed it will establish a clear differentiation between prospective members and the broking community as it gears up for launch this month.
Aggregators are criticised for their poor online security
Price comparison sites Confused.com and Comparethemarket.com have been accused of leaving the door open to criminals by sacrificing security in favour of ease of use.
Poor insurer service feeds existence of MGAs
Consistently poor insurer service levels have allowed managing general agents (MGAs) to cement their place in the market, according to one of the latest entrants to the sector.
Risk management/claims: Brokers warned: enforce EL or risk legal action
Brokers that fail to advise clients about environmental liability risks could face legal action following a government crackdown.