Professional Broking - 2010-08-04
Articles in this issue
News analysis - FSCS: Outrage as FSCS bills rise
Brokers have been hit by a dramatic rise in bills from the Financial Services Compensation Scheme, which has a sparked a huge controversy as brokers feel they are paying for the misdemeanours of others, writes Andrew Tjaardstra
Broking success - Sydney Packett & Sons: Prized Packett
Emmanuel Kenning meets a family-owned broker with an illustrious past and bright future specialising in small and medium-sized enterprise, charity and training insurance.
Focus - technology: Taming the tide of systems improvement
The technology ocean requires time, flexibility and planning to navigate safely and, as the aggregator model shows, there is great danger in being left behind a business ship bound for new, exciting and profitable lands, writes Ed Murray.
The PB interview - Bill Cooper: Bright light in the gloom
Andrew Tjaardstra meets Bill Cooper, managing director for insurance in the financial institutions division at Lloyds TSB Corporate Markets. Despite being cautious about prospects for brokers as the UK's economic malaise continues, the firm is very much…
News analysis - Emergency Budget: Chancellor's axe and tax
Emmanuel Kenning reviews economists' reactions to the announcements in the Emergency Budget.
News analysis: Fortis snaps up Kwik Fit
Fortis has expanded with the £215m cash purchase of Glasgow-based Kwik Fit - including Express and Green Insurance - from Kwik Fit Financial Services.
News analysis: LV launches marketing tool
LV is launching a marketing and quote-engine tool for small and regional brokers called Proud, utilising South Essex Insurance Brokers' wholesaling arm's technical back-end.
Viewpoint: The tonic the economy needed
On 22 June, Chancellor George Osborne delivered his Emergency Budget. It set out a faster reduction of the deficit than was envisaged by the previous government and, crucially, defined how the bulk of the adjustment would be achieved through lower…
Editor's comment: Regulator change risks instability
The announcement that the Financial Services Authority is to be disbanded and replaced with a combination of regulation from the Bank of England including a new Consumer Protection and Markets Authority brings opportunities and dangers.
Legal - Client money: the FSA belatedly bares its teeth
The moribund Financial Services Authority has been busy enforcing client money regulations, issuing large fines. Brokers are advised to keep their houses well in order, writes Mathew Rutter.
Management clinic - sabbaticals: Big break
An employee wants to take three months off work to travel but there are no provisions with regard to extended breaks in their employment contract. While the employee has one month of holiday entitlement to use, the other two months won't be covered. What…
New government: Coalition consequences
The new government has already announced the end of the Financial Services Authority and an Emergency Budget full of spending cuts and tax rises. Emmanuel Kenning looks at the implications for insurance brokers.
Market watch - commercial motor: Has commercial motor gone flat?
Though the economy continues to be troublesome and commercial motor is still highly competitive with small margins, there are some areas of improvement and growth, writes Fiona Nicolson.
Data quality: Staying in charge of your data
If the Financial Services Authority has concerns over the accuracy of your data processing, it might demand that you implement a new system as well as impose significant fines, writes Ian Singer.
News round-up: July/August 2010
A brief round up of news from the secto.
Management clinic- anti-bribery: Don’t slip up
The FSA has published an anti-bribery and corruption in commercial insurance report. It seems to relate to overseas markets, so does it apply to my firm?
Viewpoint: The carbon challenge
Climate change remains controversial for broking. Either it is not discussed or it is addressed in the context of new business opportunities such as renewable energy. Regardless of a broker's positioning on climate change, it has become a regulatory…
Climate science: Too hot for comfort
Global warming is one of the most contested and emotive issues in the world. Regardless of whether the experts are right or wrong, the industry has to face the challenge, writes Danny Bradbury.
The Green Interview: Building momentum for change
Andrew Tjaardstra speaks to Andrew Torrance, chief executive officer at Allianz and chairman of ClimateWise, about what the environmental organisation hopes to achieve and its radical proposals to last year's Copenhagen climate conference.
Legal: The opportunity of uncertainty
The vague Green Economy Bill is not an excuse for the industry to ignore climate change risks, rather to take a lead in tackling the problem and grab a big opportunity, writes Lindene Patton.
Carbon Offsetting: Carbon offsetting in vogue
It is impossible to avoid emitting carbon, so paying someone else to make a carbon saving is an increasingly popular choice.
Carbon offsetting: Energy bills to rise
Brokers could face an increase in annual energy costs of £368 by 2020 as a result of climate change policies, the government has admitted.
Market Watch - Low carbon economy: High hopes for low carbon
Andrew Williams investigates the promises and pitfalls of offering cover across the many and varied risks in the growing green energy sector.
Office efficiency: More than greenwash
Emmanuel Kenning looks at what brokers can teach each other as the profession tries to become more environmentally friendly, starting at the office.
Flooding: Raising the barriers
The spate of high-profile floods over the last five years has given insurers, brokers and clients much food for thought about rates and whether or not some risks can be covered at all. Andrew Tjaardstra finds out what precautions the industry is taking.
Recycling: More than a load of old rubbish
Recycling in the UK is increasing, a process that is generating significant underwriting opportunities and, in turn, openings that brokers should be keen to explore, writes Andy Poole.
Editor's comment: Change regardless of blame
The floods in Pakistan and fires in Russia might or might not be caused by manmade global warming but they are the kind of incidents that the bulk of the scientific community are predicting more of if we continue to spew carbon dioxide into the…