News
New LEI product tailored for smaller landlords
Arc Legal Assistance has teamed up with Swinton Commercial to launch a commercial rental guarantee product for semi-professional landlords.
Markel International sees GWP grow but COR deteriorate
Markel International has announced it achieved $709m (£436m) of gross written premiums (GWP) for the year to 31 December 2010 (2009: $641.20m).
National broker welcomes Bribery Act delay
JLT’s D&O liability team has welcomed the delay to implementation of the Bribery Act claiming there is too much uncertainty around the Act.
Biba hits out at FSCS levy rise
The British Insurance Brokers’ Association (Biba) has hit out at this year's over 50% increase in the Financial Services Compensation Scheme (FSCS) levy.
Brokers hit by further FSCS levy rise of over 50%
The Financial Services Compensation Scheme (FSCS) has announced that the general insurance mediation sub-class will have to contribute £93.5m in 2011/12 a 57% increase over last year’s levy (2010/11: £59.6m).
CEO for new broker regulator unveiled
The Financial Services Authority (FSA) has appointed Martin Wheatley as the new managing director of its Consumer and Markets Business Unit.
Accident Exchange slashes debt by £50m
Accident Exchange, the accident management company, has reduced its debt by £50m in a debt for equity deal.
Brightside expects to meet stock market profit expectations
Brightside Group has announced that it expects to meet stock market expectations of £6.5m-£7m in profits after tax for the year ended 31 December 2010.
Enforcement welcome but lacks bite says motor industry
The insurance industry has delivered a mixed response to recent government forays into uninsured driving and the cost of insurance in the sector.
Motorists happy to misrepresent to obtain cheaper car insurance
Research from the Association of British Insurers (ABI) has revealed that the majority of motorists are prepared to misrepresent a risk to get cheaper car insurance.
Health news: MCD trust fund scheme offers brokers alternative route into PMI
Medical Care Direct (MCD), part of the Skipton Group, has launched a scheme which offers brokers an alternative path into the private medial insurance (PMI) sector.
Health news: Pruhealth seeks to broaden its range in wake of SLH aquisition
Pruhealth is targeting general insurance brokers with a range of new healthcare plans following the acquisition of Standard Life Health (SLH) in August last year.
E-commerce: OFT sends out data sharing warning to insurance industry
The Office of Fair Trading (OFT) must clamp down on anti-competitive data sharing in the insurance industry, according to consumer watchdogs Which and Consumer Focus.
Discussion paper gives first hints regarding future philosophy of CPMA
The Financial Services Authority (FSA) has called for a public debate about how it, and in future the proposed Consumer Protection and Markets Authority (CPMA), should pursue the objective of consumer protection and specifically the issue of product…
E-commerce: Simply Business reveals ambitious GWP growth plans
Simply Business, has unveiled a gross written premium target of £100m by the end of 2012, up from £41m last year.
E-commerce: Policyfast and RSA come to non-EDI agreement
Online wholesaler Policyfast has reached an agreement with RSA to provide online business car and van policies to brokers.
Intermediary receives FSA fine and ban for 'turning blind eye'
The Financial Services Authority (FSA) has fined an intermediary £25,000 and banned him from working in regulated financial services for his part in a scheme that defrauded Markel and QBE, through its agent Amalfi, of more than £2m.
Hastings to recruit 350 to meet expansion plans
Bexhill-based insurance broker Hastings Direct has announced it is to recruit 350 members of staff in 2011.
Mayer tasked with EMEA focus in London return
Igal Mayer has returned to London as Aviva's chief executive of Europe, Middle East and Africa. The move from CEO of the North American division comes a year after the implementation of the restructure, which saw Mark Hodges appointed to lead UK…
Systems and regulation top brokers' 2011 concerns
Improving systems and regulation are the issues that concern brokers and underwriters most for 2011, according to insurance software specialist Sequel.
Bespoke insurance regulation is top of Biba agenda
The British Insurance Brokers' Association (Biba) has put regulation at the top of its 2011 manifesto agenda as it continues to campaign for a regulatory approach more tailored to its members.
E-commerce: Commercial market struggles to meet fraud prevention demand
As the capacity for online small to medium-sized enterprise (SME) trading increases, the commercial insurance market continues to lag behind in fraud prevention, according to APC underwriting director, Ian Russell.
TEn commits to Aldermanbury
TEn Insurance has become the first stand-alone network to sign the Aldermanbury Declaration.
E-commerce: First for Lloyd's as contract is exchanged on iPad
The first electronic fully-placed contract via iPad was exchanged at Lloyd's between BMS and Catlin using the RI3K platform.