Professional Broking - 2000-01-12

Articles in this issue

The good old days?

With more than 50 years' experience working in insurance broking, Kenny Downes, chartered insurance broker at Bruce Stevenson Risk Management, tells Martin Friel how he has seen the industry transform

Wolves at the door

Brokers are uniquely placed to help commercial landlords fend off the threats of theft, arson and diminishing rents that could yet engulf them as the downturn worsens, says Martin Friel

Standing your ground

As direct insurers look to make gains in property underwriting, Edward Murray says brokers must act now if they want to retain their share of this market

The royal standard

Martin Friel reports on a Prince's Trust project that hopes to untangle the complexity of the insurance market for young people and make sure that any past misadventures mean they're not excluded from the market

Changing the speeding culture

Speeding remains a significant problem in the UK. Although the Government has taken measures to slow drivers down, the insurance industry is lagging behind. Grant Mitchell calls for efforts to be shifted up a gear

JLT to the core

Dominic Burke has proved his worth as JLT group CEO by leading the company through tumultuous times with sheer determination and passion. Martin Friel finds out what has been at the top of his agenda for success

The benefits of hindsight

To commemorate Insurance Age's 30th anniversary, this Power hour will look at the last 30 years of broking to ascertain what lessons, if any, have been learned and predict what the future broking landscape will look like. Martin Friel reports

Negligence cases soar

Latest figures have revealed that professional negligence cases have escalated by 137% in the past y...

Ready for anything

And that includes expansion. Willis CEO Brendan McManus tells Michelle Worvell that it's not just about corporate survival, but also being ready to seize business opportunities

Points of view

To coincide with this year's Biba conference, Insurance Age has once again conducted its annual broker survey. Here are some of your most notable opinions

It's party time for Age

This month Insurance Age is celebrating 30 years of serving the UK general insurance broking communi...

Get yourself connected

Jessica Pothering explains how to make the most out of this year's Biba conference, at a time when every minute out of the office must be well spent

Compare and contrast

Aggregators were once seen as little more than an irritant. But as Liz Booth reports, there may be moves afoot that could revolutionise the model

Safe as houses

Compared with owner-occupiers, professional investment landlords tend to prioritise quality well above price when it comes to insurance, says Mark Ritchie

Pay to play

As in most working relationships, insurance costs are driven by market forces and have been for many years. So why has does this conventional model not apply to the credit hire market? Martyn Hardy explains

Feeling the squeeze

As the recession beds in, underinsurance is fast becoming a problem in the home insurance sector. Martin Friel looks at whether brokers have a moral obligation to ensure clients have suitable cover

After the storm

He may no longer be the firebrand of old, but having resurrected Heath Lambert, Adrian Colosso has shown he has lost none of his steely resolve. Martin Friel asks him about the past five turbulent years and his vision for the future

Clearing its name

With the banking sector in the world's bad books at the moment, what effect will this have on the insurance industry? This month, Jessica Pothering asks the panel how insurance can save face

Tough at the top

Martin Friel chairs an in-depth power hour that covers burning issues from recruitment, the state of the regional market in Ipswich, the national picture for insurers and brokers and how the industry will exit its current phase in the cycle

Scam busters

With the news that Axa has set up a specialist anti-fraud team and begun investigating more than 400 motor accident cases in which fraudulent activity has been suspected, MichelleWorvell asks if the industry is winning the fight against fraud and what…

Waste not, want not

Technology changes rapidly, and so the temptation to update legacy systems is great - if only to giv...

Ditch the IT overhead

Kevin Child outlines the benefits of IT outsourcing and examines two main models - ASP and MSP - and how they can transform businesses

The industry's empty promises

The industry must raise its customer service standards in line with today's modern, 24/7 world if it is to shake off its poor reputation for policy wording and claims payouts, argues Paul Meehan

What you really, really want

Brokers must accept the cost of implementing a full functionality software system and make budgetary allowances. Only then can they make the most of their IT systems. Jessica Pothering explains

Raising the wind

It may not be the easiest climate for insurers and brokers to raise capital but recent legislative changes could have a calming effect. The question is, how long until the impact of these proposals are felt, asks Gary Thorpe

A test of initiative

This month, Michelle Worvell asks the panel if Biba's professional indemnity initiative has succeeded and whether brokers should be allowed to arrange their own PI cover

A trip down memory lane

Tony Cornell takes a retrospective look at how the insurance industry - particularly the broking sector - has changed over the past 30 years, since Thatcher's reign and, of course, the launch of Insurance Age

All rise, m'learned brokers

The economic downturn is likely to signal a rise in litigation against brokers, which means that they must be more aware than ever of all their legal obligations, says Martin Finigan

Taking care of business

Ever-changing market conditions create numerous challenges for brokers, among which is finding the best client deals. Pat Drinan explains why, in this climate, partnering with the right insurer is vital

Awards can bring their own rewards

Martin Friel speaks to Clear's chief executive Howard Lickens who says that peer recognition has had the benefit of helping to keep its acquisition plans intact despite a reduction in its expectations for growth

Up close and personal

A team player with complete belief in his staff, John O'Roarke talks to Michelle Worvell about how the general insurance market has changed, regrets he has had along the way and his vision to bring LV into the public spotlight

There may be trouble ahead

Avoiding the knock-on effect of a supplier going bust is now a top priority for every company. Michelle Worvell reports on how business continuity insurance is forcing its way onto the boardroom agenda

The art of cross-selling

The ability of the high-net-worth market to provide stable, recession-proof profits is very attractive at present and can be accessed by cross-selling opportunities, says Bob Trott

Raring to go

Somewhere beneath the biggest players and somewhere above the smaller ones, Peter Burrows believes Brit UK is superbly placed to take great strides once the economic tide turns. Martin Friel reports

Pulling in niche trade

Once considered the preserve of the nerdy, caravanning is now cool and, as Ian Drewe explains, it's the sort of pursuit that falls neatly into leisure insurance schemes - one of the most untapped niche insurance markets

Silver service

Competition in the high-net-worth market is fierce but for those prepared to tailor their policies, there are still rich pickings on offer, as Jessica Pothering explains

Making the front page

Insurance Age has gone through many changes in the last 30 years. Here we take a look the magazine's evolution and ask industry leaders to give context to some of the leading stories over the years

Financial sector gloom

The latest PB Sentiment Survey (pp.38-44) reveals that 70% of brokers are considering cuts in expens...

Devitt and Lawton - Upping the ante

Andrew Tjaardstra talks to Aaron Devitt and Mike Lawton, who are the front line in driving RSA's commercial UK strategy as it adopts a more aggressive approach to sales to increase its broker activity

Appraisals - The evaluation process

I want to introduce an appraisal system to my business but am unsure if it is worthwhile. How would I go about implementing such a system if I do choose to use one?

Race Day returns

The Insurance Race Day, an exclusive event to be held at Kempton Park on 21 April 2009, is back for ...

Disclosure - Knowing what to reveal

Apparently, there is further guidance coming out from the Financial Services Authority relating to commission disclosure. Can you tell me what this entails and if it means a major overhaul of brokers' practices?

Security - Confidentiality issues

I read that we should be checking our cleaners' suitability to be left on our premises unsupervised. What will the Financial Services Authority think of next?

Outsourcing - Outside in

Rachel Gordon considers the value that consultants might add to brokers' operations and asks: can the costs be justified in a recession?

Data loss - Data defence

Anne Crofts and Rhiannon Davies iterate the case for adhering to Financial Services Authority regulations concerning maintaining good data security

Opportunity knocks

Despite the frightening economic statistics reigning down on us, seemingly hourly, this year could b...

Paul Moors - Back to basics

Andrew Tjaardstra meets Paul Moors, chairman of Bollington and of the Manchester British Insurance Brokers' Association committee in his firm's north-west hometown. Moors talks to PB in the lead up to the Biba conference in Manchester in May

Regulation - Managing regulation

The raft of incoming regulation and guidelines means that brokers have a range of regulatory topics to grapple with. Ralph Savage discusses some of their options with experts in the field

All stand together

The remarkable turnout at the UK Broker Summit (see p.12-13) is evidence that, at a time of economic...

May

Aviva confirmed it was to shut one of its service centre operations in India and bring the work back...

Battening down the hatches

This month's discussion explores how brokers can reinforce their businesses against the recession while ensuring customer care remains at the heart. Jessica Pothering reports

The grass is greener?

Hector Sants recently warned that the FSA's new firmer approach is something to be feared. But how does the UK's regulator model compare to what our EU counterparts have to contend with? Jessica Pothering reports

A crisis of confidence

The financial services world has lost a great deal of public trust lately and the insurance industry must start believing in itself if it is to regain it. Laurent Matras explains why a re-evaluation of our offering is overdue

The man behind the ego

Victorious in his bid to head up Bluefin, Stuart Reid is quietly confident that he knows best when it comes to leading Axa's broking arm to success. Martin Friel hears how the CEO intends to grow the business, get the public onside and prove the company…

Sit up and take note

Although the Solvency II directive may not seem to directly affect brokers, it will provoke some basic structural changes to the insurance market as a whole. Bart Patrick explains why brokers need to pay close attention

Moving the goalposts?

Just as firms were getting used to principles-based regulation, the FSA announces a tougher outcomes-based prescription. Paul Lang asks how TCF will fit into the new approach

Confidentiality - Keeping secrets from the regulator

We are considering an acquisition within the next few months. Confidentiality is paramount: I do not want to tell the Financial Services Authority in case the details leak out but I am told that this is necessary. Surely it is nothing to do with the…

Francis Perkins winner

The winner of the Francis Perkins award, named after the first chairman of Biba, was presented to Jo...

Disciplinary procedures - Handling tribunals equitably

I found recently that a friend's business was taken to tribunal for unfair dismissal by a former colleague. With this in mind, I want to ensure that my disciplinary process is up to date, clear and fair so that I can avoid litigation myself, especially…

Open to the elements

Martin Friel investigates the growing popularity of D&O and how this insurance is being tailored to suit the needs of smaller firms

Laying the blame

Jessica Pothering examines the effect of the Corporate Manslaughter Act on the insurance industry

Bridging the gap

Mark Shreeve explains how brokers can advise on the most dependable D&O cover

Broker success depends on IT skills

Katherine Blackler examines the options available for brokers wanting to invest in business-critical information technology training for their staff members.

Regulator's advertising rules overlook risks

The many ways that consumers or rival businesses can pursue a company over its promotions means that the Financial Services Authority's guides may not be enough on their own to steer brokers down the right path, writes Robin Fry.

Effective cost-cutting

My company is experiencing financial hardship and need to look at ways of cutting costs. I want to avoid making redundancies because I am happy with my workforce. What alternatives are there?

Two decades of growth

A major transformation for this independent, regional insurance broker has taken place over the last two years, writes Andrew Tjaardstra.

Steering to calmer waters

Andrew Tjaardstra meets Jerry Clayton, managing director of Woodham Ferrers-based LFC Insurance Group, which has refinanced after moving to an Australian bank.

Insuring a good night out

Fights, drugs, alcohol abuse, trips and slips are all associated with nightclubs, but brokers and insurers need not be wary, writes Andrew Tjaardstra.

Read the warning signs

Brokers need to pay more attention to the effects of the introduction of legislation such as the Corporate Manslaughter and Corporate Homicide Act (2007). Doing so will help to keep clients on the right side of the law and could also improve value-add…

Safety first

Ian Clements is managing director of Reading-based Quadriga Health & Safety. He tells PB about his firm and its insurance requirements.

Floodgates have opened

Although the Government's pledge to bring forward its flood protection funding is good news, James Hillon explains why the actions of property developers could leave consumers and insurers in deep water

Straight talking

Terry Whittaker cuts to the chase with Martin Friel: he doesn't suffer fools gladly and robustly defends QBE's pricing strategy, but is also prepared to expose his human side

Full of north-eastern promise?

The term centralisation comes up often in the insurance industry, particularly in the recession when businesses are scaling back their operations. For this month's discussion, Jessica Pothering headed to Newcastle to uncover the state of the market

Problems of pigeonholing

With 4.8 million businesses falling into the SME category, how effective is this classification in meeting client requirements? Martin Friel investigates how providers and brokers can satisfy the needs of this diverse sector

A rosy outlook

Recessions are a test of resilience: as the weaker contenders are weeded out, those that remain grow stronger and flourish. Liz McMahon reviews broker performance in the SME sector and looks at provider offerings

Engaging with SMEs

A sound SME client base is fundamental to any regional broker. Edward Murray advises on how to win this much sought after business in a period when many smaller enterprises are having to make cost savings

The perfect fit

SME clients want cover that is cheap, robust and convenient, making the internet the ideal trading platform. Alistair Hardie urges brokers to take note of direct writers and affinity players, and shift their focus online

Nurturing change

Many in the insurance industry fail to see the value of continuing professional development but Ana Catalano explains how implementing a programme can win back public trust

To boldly go...

With rocket launches costing anything up to almost £80m, space underwriting is potentially the final frontier of event insurance. Jessica Pothering finds out what a day in the life of Brit's Chris Gibbs involves

CII tightens chartered criteria

The Chartered Insurance Institute has added to its corporate Chartered Broker scheme criteria in order to improve professionalism, writes Andrew Tjaardstra.

Supplier beware

Ensuring that customers have all the information available to make an informed purchasing decision can avoid costly court cases, write Tom Corrigan and Michael Feakes.

Why disclose?

No one ever asks me about my commissions and I am not going to change anything. What's the big deal?

Network benefits

'Location, location, location' is a cliché, though an apt one to describe a core tenet of this Scottish regional broker's success, writes Andrew Tjaardstra.

Preparing for the bombshell

UK pension provision is in crisis and so retirement income responsibility must pass from the state to the individual. Sam Barrett reviews the options available to employers.

Countryside alliance

Ian Gosden, managing director of Higos Insurance, is working closely with clients to prevent the importance of insurance being diluted by lowbrow advertising.

Scotland speaks

In the build up to October's PB Management Event, PB travelled to Glasgow to discover what is on the mind of senior broker managers regarding the recession, insurer service and rates.

Legal eagle

Stephen Ronaldson, senior partner at London-based Ronaldsons, tells PB about his firm's broker requirements.

Insurers' first-half results mixed

The recession continues to take its toll across the wider economy though our big five insurers' profits have not followed a uniformly downward trend, writes Andrew Tjaardstra.

Broker warns on solicitors' PI

Marsh has warned the rest of the industry not to waste time as the 1 October solicitors' professional indemnity renewal deadline looms, writes Emmanuel Kenning.

Construction in crisis

Recessionary pressure is hitting the construction industry harder than most. Emmanuel Kenning reviews an insurer's advice to brokers supporting clients struggling in the sector.

Talking the walk

Brokers' communication needs are changing. Emmanuel Kenning analyses the growth of the personal digital assistant market.

A level playing field

Derek Plummer, commercial director at MMA, explains why price comparison sites should be embraced.

The risks of reclamation

A ruling against a council that allowed birth defect-causing contaminants to escape from a reclamation site could add to the already heavy burden placed on the construction industry, explains Paula Jefferson.

Twitter ye not...

My internet usage report shows employees accessing social networking websites during the working day and I have found that some of the posts on these sites relate to my business. What disciplinary options are available and what action can I take to block…

Essential protection

One of my directors insists that we should have a business continuity plan. We back up our computers every day and for a small firm I think that's enough. What else can we do?

Family affair

Niche specialism and expertise are complementary according to the brothers running Lloyd's professional indemnity specialists PYV, writes Emmanuel Kenning.

Passing it on

Edward Murray explains the options available for those thinking of selling up and how to plan for some of the more worrying issues that the process brings up.

Phoenix from the flames

Andrew Tjaardstra meets Martin Oliver, managing director at Barbon Insurance, to discuss doomed property services company Erinaceous and some strong views on management.

Life's no beach

A sector depression and change in regulatory structure have both added pressure for those involved in travel insurance. Opportunities do still exist for canny brokers though, argues Rachel Gordon.

Tempting decisions

Finding new business and keeping it is an ongoing preoccupation for brokers and insurers and, with aggregators driving many personal lines sectors into aggressive price cuts, the pressure is on to compete in this market, writes Fiona Nicolson.

Managing nicely

William Heneker, a director at London-based chartered surveyor Lamberts, tells PB about his company's insurance broking requirements.

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