News
Allianz establishes specialist team to identify fraud
In what it claims is an insurance industry first, Allianz has established a specialist casualty claims validation team, which it predicts could identify up to £15m of fraud next year.
FSA consultation kicks off with confirmation of 2011 revamp
The Financial Services Authority (FSA) has revealed it will begin its radical transformation at the start of next year as it launched a consultation into the shake-up.
Arag service comes out on top in legal expenses insurer questionnaire
Brokers have voted Arag the best legal expenses insurer (LEI) in terms of overall service in a survey by Insurance Age's sister industry insight unit Insurance 360.
Unsustainable motor rates see greatest increase in 16 years
Car insurance premiums have rocketed at a record rate as insurers attempt to move their motor books back into the black.
Broker buying spree continues
Brokers began the second half of 2010 in a flurry of acquisition activity with Bridle Insurance snapping up two buys and further purchases from MRIB and Cullum Capital Ventures (CCV).
New Ink MD Mike Smith looks to acquire Westinsure
Giles-owned Ink Underwriting has made an offer to acquire the entire share capital of South-west broker network, Westinsure.
Jackson consultation slated for leaving brokers in dark
Experts have criticised the Government's Jackson review consultation, claiming it has left the industry "in the dark" on key measures.
Quinn impact: solicitors' professional indemnity problems affecting all firms
Professional indemnity (PI) premiums for small firms are set to soar by up to 30% following Quinn Insurance's withdrawal from the market.
NIG's personal lines exit to impact around 3,000 brokers
About 3,000 brokers will be affected by NIG's decision to exit the personal lines market and focus solely on commercial business.
Contenders for 2010 UK Broker Awards revealed
The shortlist for the 2010 UK Broker Awards has been announced so it's time to celebrate the best of British in the broking sector.
Broker Direct slashes workforce to balance declining motor book
Broker Direct has made 50 redundancies in a bid to compensate for the loss of one fifth of its personal lines motor book.
Moneyextra.com sells up and surrenders to rival aggregators
Price comparison site Moneyextra.com has finally admitted defeat in its bid to compete with the UK's top four aggregators after the company was sold for £1.
Brokers demand 'safe harbour' from PPI storm
The Financial Services Authority (FSA) has come under increasing pressure to force insurers to share the burden of compensation claims resulting from the widespread mis-selling of payment protection insurance (PPI).
Utley quits IAG to focus on his own investments
Neil Utley has revealed his intention to return to his entrepreneurial roots after quitting his role as chief executive of Insurance Australia Group's (IAG) UK business.
Industry anticipates further IPT rises to catch up with EU levels
Industry experts have warned of further Insurance Premium Tax (IPT) hikes as the Government attempts to bring UK tax levels into line with the rest of Europe.
Broker Expo gains CII accreditation
The Chartered Insurance Institute has confirmed that the Broker Expo has received official accreditation as the 2010 event opens for registration.
PB Week: A week in the life of Keith Curling, Carmichaels MD
Monday: On the train to London and the diary assumes control, it will be a frenetic week with client meetings combined with managing my own portfolio of adjusting work.
Autofocus goes into administration.
The credit hire reporting company Autofocus has entered administration.
Anglo Irish planning for Quinn takeover
Anglo Irish Bank is just weeks away from delivering plans to the country’s Financial Regulator for the takeover of Quinn Insurance, according to the Irish Independent.
Brit cuts UK private motor book by 60%
Brit Insurance revealed it has cut its UK private motor book by 60% as it reported a 10.8% drop in UK gross written premium to £210.1m for the first six months of 2010 (H1 2009: £235m), a 11.4% decrease at constant exchange rates.
Private equity house submits revised bid for Brit
The board of Brit Insurance Holdings has confirmed that private equity house Apollo has submitted a revised indicative proposal to acquire the entire issued and to be issued ordinary share capital of the company at a price of £10.75 per share in cash.
NIG pulls personal lines
Royal Bank of Scotland insurer NIG has outlined plans to close its personal lines division and focus solely on commercial business
Ecclesiastical announces new CEO for Australian business
Specialist insurer Ecclesiastical has appointed Andrew Moon as the new chief executive officer for its Australian business, Ansvar Insurance.
Utley to leave IAG UK
Insurance Australia Group has announced today that Ian Foy, currently CEO of IAG’s New Zealand business, will return to the United Kingdom to become CEO of IAG’s UK business, succeeding Neil Utley.