Product Hub: Transport/Marine
Welcome to Insurance Age’s Transport/Marine Product Hub. This page hosts all of our transport product news and insight to help the market keep abreast of latest developments and to boost their business development strategies.
Product overview: Transport/Marine
A long-standing tradition of trading goods means that marine insurance is one of the oldest forms of insurance, with historians able to trace cover right back to the Phoenician traders in around 1000 BC. Methods of transporting goods have changed significantly since those early days on the sea, but it remains a valuable but challenging market.
Find out moreBroker satisfaction survey
In 2021 Insurance Age undertook its largest ever survey of UK brokers in order to assess the quality of insurer service across the market.
The Broker Satisfaction Survey covers 11 business lines in total and accessed more than 7,000 data points, making it one of the biggest surveys in the broker community.
The results are spread across four articles which rank insurers and highlight the best providers in the business.
The four pieces show the top ten providers in the major commercial space, across small commercial and niche players, and we also take a deep dive into the high net worth sector and commercial property markets.
The results are exclusively available to Insurance Age subscribers.
Rankings: Marine
Bronze: Lonham Marine
Silver: NMU
Gold: CNA Hardy
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Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Amicus hits £22m in GWP and sets sights on M&A
Amicus CEO, Adam Scott, has told Insurance Age that the broker is looking to do deals as it aims to become the largest construction waste broker in the UK, following last year's MBO which was supported by Shawbrook Bank.
Broking Success: Moving forward and storing up success
Greg Wildman, managing director of Basil Fry & Company, unpacks how the removals, storage and self-storage specialist broker has consistently delivered yearly double-digit organic growth in a sector that is a bellwether for the UK economy
IFB reveals new ‘crash for cash’ hotspots across UK
The Insurance Fraud Bureau has detailed the top 10 new areas targeted by ‘crash for cash’ gangs as it warned drivers to be vigilant of the scam.
Ex-Axa leader David Williams joins Humn
David Williams has joined commercial motor insurtech Humn as a non-executive director.
One Sure buys Unicom from Tradewise liquidators
One Sure Insurance has bought the motor trade specialist Unicom Insurance brand, customer base and systems with all staff moving across as part of the deal, Insurance Age can reveal.
Insurance ban on Russian oil ships - report
The UK and EU have teamed up to ban the insurance of ships carrying Russian oil, the Financial Times has reported.
Gallagher to rebrand Coleman Marine
Gallagher will rebrand Coleman Marine as Gallagher on 30 May.
DR&P buys Channing Lucas & Partners
DR&P Group bought a 90% stake in Lloyd’s broker Channing Lucas & Partners late last year, according to a filing at Companies House.
Broking Success: Strength in Scotland
Director Tom Yorke recounts his route from Giles to investing in Blue Rock Insurance Brokers, growing organically and competing on quality with the ethos of not doing speculative quotes as well as the opportunities for the Scottish broker as it targets…
Think targeting £30m GWP within three years
Think Insurance is currently looking at two more broker buys and has set a target of £30m gross written premium by 2025, commercial director Russell Bence told Insurance Age.
Opinion: The importance of the right chemistry for schemes and DAs
Axa UK’s Gary Head explains why the formula must be right to achieve long-term success
Aston Lark buys Braddons
Braddons is a specialist corporate broker.
The stats: Commercial premiums – double trouble as rates continue to bite
Along with the cost of living, the cost of insurance looks set to keep rising too, according to the most recent Acturis Commercial Broking Index. Rachel Gordon reports
Zego teams up with Aviva on fleet policies
Usage based and flat rate policies will be available to trades and haulage fleets in the UK containing between five and 500 vehicles via direct sales and brokers.
EV charging product launched
Recharge Rescue has developed a product, which can be sold via brokers, to help EV drivers if they run out of power.
PIB reshuffles management team
The changes include Adrian Colosso becoming chairman of its specialty business and Bernard Macgeean set to become chair of Q Underwriting and PIB’s Schemes & Affinities.
Pen extends links with QBE for £300m capacity deal
The long term agreement is for three years and covers a range of sectors.
First Underwriting eyes £130m GWP
The MGA is also looking to expand into fresh product lines following its £1bn capacity deal with Accredited.
CBPE completes Direct Commercial deal
After receiving backing from CBPE, the MGA will sit alongside Carraig Insurance under Direct Commercial Group.
Experts warn of reinsurance market crunch
Smaller players without scale may struggle with reinsurance costs going forward as issue is highlighted by the collapse of motor trade specialist Tradewise.
Hubb targets £15m to £20m GWP for 2023
The commercial usage-based broker was set up in 2020 and authorised in April last year.
Allianz brings EC&P operation into commercial
The division now falls into one of four commercial regions.
First Underwriting secures £1bn capacity from Accredited
The five-year deal with Accredited, alongside McGill & Partners, provides capacity for specialty products and will help First to diversify its product lines.
Aviva and Prestige Underwriting agree fresh panel deal
The fresh motor and van agreement runs until 2026 and sees Prestige re-enter the non-standard motor space.
Motor premiums stabilise as telematics grows
Data from Consumer Intelligence reveals that 1 in 4 cheapest motor insurance quotes are provided by telematics firms, and while motor premiums plunged 9.4% in the last 12 months, prices are now beginning to stabilise.
iRevolution buys BG Insurance
CEO Mark Rigby has said the acquisition of BG Insurance would give the business further expertise in other areas of the non-standard motor market.
