Broking Break: Your top five on a Friday

5 - Allianz rolls out initiative to prevent underinsurance

Allianz has introduced a new initiative targeted at reducing the number of SMEs which are underinsured.

The insurer stated that using internal and external data, it can identify where existing SME customers potentially have an insufficient level of insurance cover.

4 - Court rules for "collateral lie" gets mixed reaction

The Supreme Court's ruling that insurers must still pay out on claims even when the claimant has lied has received a mixed reaction from industry leaders, with some arguing that this could push up the cost of insurance.

3 - Collateral lies acceptable in claims rules court

The Supreme Court has ruled insurers must still pay out on claims even when a claim features a "collateral lie".

The ruling came after a dispute over damage to a Dutch cargo ship called DC Merwestone.

2 - Markerstudy and Be Wiser agree partial pull back

Be Wiser and Markerstudy have confirmed they have reduced the amount of business they do together in the private car sector following a review by the insurer.

Be Wiser CEO Mark Bower-Dyke told Insurance Age that the lines in question were not making any profit and highlighted that the broker is still doing business with Markerstudy.

1 -Ex-Biba accountant pleads guilty of £24,000 fraud against trade body

A court case at the Old Bailey saw Gurmukh Singh Shehri, 32, plead guilty on 18 July to six counts of fraud.

Shehri, an accountant, spent 10 years with the British Insurance Brokers' Association (Biba) and stole more than £24,000 using cheques signed to himself and paying himself unauthorised bonuses.

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