News
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.
Slow insurer processing could mean a backlog of IPT charges
Brokers could be left to foot the bill if insurers choose to apply the Insurance Premium Tax (IPT) increase from the date it hits their books, according to the British Insurance Brokers' Association (Biba).
Health news: Online advice portal to complement launch of EFF
Exeter Friendly has revealed it will shortly go live with an online portal for brokers and advisers following the launch of a new insurance brand.
Select commission uplifts risk breaking new bribery laws
Insurers offering brokers increased commission rates for new business must ensure they have adequate procedures in place or they could risk breaching the Bribery Act 2010, according to legal experts.
Banks and FSA wrangle over new measures for PPI customers
The banking sector has locked legal horns with the Financial Services Authority (FSA) over the handling of payment protection insurance (PPI) claims.
Broker responsibility to warn clients of rising plant theft issue
Brokers have been urged to flag up the increasing threat of agricultural plant theft to clients as the problem reaches "epidemic" proportions.
News review: October
The founder and chairman of direct insurer Esure, Peter Wood, revealed that 2014 would be the earliest date that the company would launch an initial public offering.
LV Broker sets sights high on £1bn worth of business in first decade
LV Broker has revealed it is aiming to write £1bn worth of business by 2015, less than 10 years after its launch.
Allianz sharpens regional focus with Newcastle plans
Allianz Commercial has announced its intention to expand its regional branch network with the opening of a new office in Newcastle.
Apollo-CVC offer accepted
Brit Insurance has agreed a cash offer from Apollo Management and CVC Capital partners in a deal valued at about £888m, which will result in shareholders receiving up to £11 a share.
Health news: Rockbridge deal underlines CBG's healthcare focus
CBG Group has acquired Rockbridge Healthcare as part of its growth strategy in the healthcare sector.
Advertising power acknowledged
Aggregators have admitted that their financial performance has become increasingly dependent upon the success of advertising campaigns.
Brit case could up timber premiums
Brit Insurance Holdings' £2.6m claim against Taylor Wimpey could be a catalyst for insurers increasing premiums and restrictions on timber frame cover.
Health news: PMI providers warned against taking advantage of public cuts
In the wake of the Government's controversial benefit cuts, health insurance providers have been warned against tapping into highly emotive areas by mutual insurer National Friendly.
Vacancy remains for Axa chief
Axa Insurance is still searching for a new commercial lines chief following a restructure of its UK business.
Big Society could offer brokers ray of light
The Government's sweeping public spending cuts could be a double-edged sword for regional brokers.
FSA bans show 'unacceptable behaviour' will not be tolerated
In its latest move in a series of crackdowns the Financial Services Authority (FSA) has banned a broker for attempting to overcharge a client and has cancelled the regulatory permission of two other brokerages and an underwriting agency.