Covid-19
Pub chain Stonegate hits Marsh with £85m negligence claim
Marsh is being sued by Stonegate in a case the pub company’s lawyers have defined as “of interest to both the insurance and hospitality sectors in examining the professional standards brokers should be held to when placing insurance for groups of companies”.
Ex-insurance broker jailed for pocketing £46k from bouncy castle hire companies and amusement parks
A former insurance broker has been jailed for two years, after he stole £46,125 by editing a wholesale broker’s contracts to increase the cost of premiums paid by his clients, the City of London Police have confirmed.
People Moves: 6 – 10 May 2024
Stay in the loop with the latest insurance personnel moves.
Biba recruits standalone public affairs manager from FTSE 100 firm
The British Insurance Brokers’ Association has appointed Shayne Halfpenny-Ray, social affairs manager at Phoenix Group, as its new head of policy and public affairs.
Broking Success: Celebrating 50 years of independence
Having celebrated its 50th anniversary as an independent broker, R A Cowen & Partners, which is part of Cowens Group, has no plans to sell up any time soon. CEO Paul Chaplin sets out the philosophy behind the business and shares his route into broking.
Biba grows net assets to more than £5m
The British Insurance Brokers’ Association has revealed a 21% increase in members’ funds to £5.1m at the end of 2022.
Blog: 'Do the right thing' to grow your own culture and future leaders
Broker management teams face many challenges in the post pandemic world, not least defining their company culture and attracting the next generation of talent. Mike Edgeley, group CEO of the Clear Group, offers a perspective on one roadmap to potential…
Brokers warn insurers they risk losing more business to MGAs
Mainstream insurers need to heed the lessons of the post pandemic decline in service or face losing more market share to managing general agents.
Analysis: The powerful surge in record-breaking tradesman premiums
Insurance Age unpacks the impact of inflation, changing customer needs and rising demand along with the shifting insurer appetite in tradesman insurance.
Insurers respond to broker meeting challenge and criticism
To coincide with today’s third anniversary of the UK’s first Covid-19 pandemic lockdown, Insurance Age polled providers to find out how they have sought to re-engage face to face with brokers.
Brokers call for more face-to-face interaction as insurer service improves
Three years on from the UK’s first pandemic lockdown, brokers welcomed the uptick in insurer engagement, but urged providers to do more below C-suite level.
Axa hails importance of face-to-face meetings as it seeks to be more visible
Distribution and trading director Sarah Mallaby claims Axa UK has seen an improvement in broker engagement, as it focuses on face-to-face trading complemented by an investment in digital products and support.
Survey reveals pay concerns and potential further job-market churn
A survey by recruitment consultants Reed has revealed that a fifth of employees in insurance and financial services are actively seeking new job opportunities, and more than a third are considering looking for a new job.
Covid and inflation costs bite as QBE International COR ticks up to 92.5%
QBE International has reported a combined operating ratio of 92.5% for 2022, which is up from 90.6% in 2021.
Moneysupermarket details decline in searches following FCA pricing change
Moneysupermarket has posted insurance revenue of £172m, in the year ended 31 December 2022, compared with £158.7m in 2021.
Brokers must priortise staff engagement as the 'great resignation' continues to bite in 2023
Brokers have stressed the need to keep staff engaged as resignations and recruitment struggles don't look to be going away any time soon. Sophie Locke-Cooper details how the post-pandemic period of reflection is still being felt today.
Society of Insurance Broking chair looks to Biba to improve engagement
The new chair of the Society of Insurance Broking, Laura Hancock, has told Insurance Age that this year’s focus will be on raising professional standards in broking and talent recruitment.
Cost-of-living crisis to place additional regulatory focus on market
DAC Beachcroft has published its predictions for 2023, which touches on the impending implementation of the Consumer Duty and what the Financial Conduct Authority will expect of the insurance industry during the cost-of-living crisis.
Lawyers urge brokers to be vigilant about their own E&O
Law firm RPC has warned brokers to be vigilant about their own errors and omissions, and to stay on top of documentation against a backdrop of customers potentially opting for cheaper, but less protective insurance, in the cost-of-living crisis.
Review of the Year 2022: Steve Wright and Bryan Banbury, Russell Scanlan
In the latest part of Insurance Age's review of the year Russell Scanlan's managing director Bryan Banbury, and claims director Steve Wright offer their reflections on 2022 and predictions for the next 12 months.
Review of the Year 2022: Nick Houghton, CEO, JMG Group
In the latest part of Insurance Age's review of the year Nick Houghton, CEO, JMG Group offers his reflections on 2022 and predictions for the next 12 months.