Motor
Power Hour: Driving forward
This month's roundtable grapples with the factors holding the motor market back and asks what measures need to be taken for it to return to profitability.Liz McMahon reports.
Fortis takes on travel customers in five-year deal
Fortis UK has announced it is to expand its existing partnership with Tesco Bank as part of a five-year deal worth around £59m in gross written premiums (GWPs).
Allianz Retail launches direct motor product
Allianz Retail has launched an online car insurance product direct to the consumer under the Allianz brand for the first time.
Injury claims costs in motor rising by nearly a third a year, claims Towers Watson
The cost of injury claims in the UK car insurance market has grown recently by nearly 30% per annum according to Towers Watson.
BLG expands following purchase of Halliwells' insurance arm
Due to the Halliwells acquisition, Barlow Lyde & Gilbert (BLG) has occupied a further four floors of its existing premises in Chancery Place, Manchester.
Editor's comment: The motor market is shot
A senior industry figure told me this month that it is the "worst time" in the history of the motor market for insurers. A pile of news has confirmed this, including RBS's loss of over £200m in its first-half results, Equity's reserving issues and NIG…
News Analysis - Council parking charges: Nottingham Council's private parking charges pile pressure on businesses
The profession has reacted with horror to newspaper reports that car parking charges could be levied by councils on private spaces.
News analysis: Brokers can choose their commissions (to a point)
This year, brokers have been given the opportunity to choose their commissions by two insurers.
Compuquote adds courier to range
Compuquote, the electronic wholesale arm of UK commercial broker Bollington, has launched a new courier product for brokers.
Allianz hires operations manager for motor claims
Allianz has announced the appointment of Alan Collins to operations manager for motor claims.
Interview: The almost great and the good
Martin Friel talks to Theo Duchen and David McDonald about how Acturis is over-delivering in professionalism and efficiency in a bid to achieve greatness
Editor's comment - September 2010
So the private motor sector has finally been revealed as the insanely priced kamikaze market that many in the industry always thought it was.
Data hub launch discloses new pricing detail to non-direct market
Coversure and Fortis are among those that have committed to using a new data hub that aims to allow brokers to compete on a level playing field with direct writers.
Bespoke classic car scheme unveiled
Independent insurance and financial services group Lucas Fettes has launched a new bespoke classic car scheme for the motor trade.
NIG exit sparks RSA return to personal lines
RSA has expressed a renewed appetite for personal lines business after admitting it had previously been "deliberately underweight" in this area.
Allianz head urges industry to match motor hikes
Allianz chief executive, Andrew Torrance, has called on the market to push up rates, as he promised further double digit increases in private motor in 2011.
RBSI puts operating loss down to bodily injury claims injection
The chief executive of Royal Bank of Scotland Insurance said its results were heavily impacted by the need to boost its reserves for bodily injury claims after reporting a £253m operating loss for H1 2010 (H1 2009: £217m profit).
Aviva boss lists three reasons for fall in GI operating profits
Aviva's UK general insurance chief executive, David McMillan, said the dip in the insurers' general insurance and health operating profits was due to its decision to release fewer reserves this year.
Birmingham exposed as worst 'crash for cash' area
Birmingham has topped the Insurance Fraud Bureau's (IFB) top 20 league table of crash for cash hotspots in Q2 2010.
Claims farming clampdown needed to cut motor costs
The insurance industry must tackle the ongoing rise in claims farming in order to reduce overall motor claims costs, according to a recent report issued by Defaqto.
Motor insurers' excuses for poor results rejected
Insurer claims that increases in bodily injury costs are to blame for poor performance in the private motor market may be misleading, according to industry experts.
LV reaps benefits of below average motor rate increases
LV has increased motor rates by 25% but its general insurance managing director John O'Roarke said that it has still been possible to write profitable business.
LV sees broker business soar by over 50%
LV’s results for the six months ending 30 June 2010 have revealed a 56% increase to £300.6m (H1 2009: £193.1m) in broker business.
Fraud blamed for record motor premium rise
Fraud is pushing car insurance premiums up faster than ever, according to AA Insurance.