Talbot Underwriting has today announced two high profile appointments to its senior management, pending approval by Lloyd’s and the Financial Services Authority. The announcement came via the board of directors, which named Michael Carpenter as the new chairman of Talbot Underwriting, and Rupert Atkin as new Chief Executive. Both of these appointments are from internal [...]
Dedicated motor insurance company Roadsure has today been sold to insurer Premium Choice, according to an announcement made by parent Optimas as part of its corporate streamlining process designed to help focus its operation. The announcement made today reflected that Optimas had offloaded its Roadsure subsidiary in the process of restructuring its organisation to insurance [...]
Investment bank Goldman Sachs has today been linked with a move to acquire reinsurer Benfield in a move that would see the US giant acquire a stronghold within the reinsurance market, according to UK press reports today. The respected investment bank has been believed to have been in talks surrounding the acquisition of the reinsurance [...]
The British Insurance Brokers’ Association (BIBA) has expressed strong views on the Financial Service Authority’s (FSA) proposed new treatment of fee disclosure to consumers, in respect of lower risk or “other” general insurance products. The Association has called the plans “a licence for the unscrupulous to hide charges”. In its consultation paper, the FSA proposes [...]
A report released today on behalf of Marsh and The Albright Group has spoken of the wide ranging effects of a drawn-out flu pandemic, which would seen significant damage to business and the global economy. The study adopts a bleak outlook, suggesting that a flu pandemic is both very likely and overdue in accordance with [...]
Insurer Brit Insurance has today announced the high profile appointment of Tim Grant to the position of Distribution Leader within the small business and personal lines department. The move will see the experienced Grant assume responsibility for increasing and developing distribution channels for Brit Insurance products within the small business and consumer categories, in an [...]
Lloyd’s has today announced healthy interim profit figures gross of tax, topping £1.8 billion for the first half of the year 2007 to the end of June, largely as a result of favourable market conditions. The figures released today far surpass the earnings of the same period last year, which saw it realise interim profit [...]
Zurich is reminding homeworkers to check out their insurance to make sure the “office at home” is covered. The insurer has published the results of a survey indicating a steady rise in the numbers of people working from home. Nearly 30% of the respondents estimated that they are based at home for around 10% of [...]
The Financial Services Authority (FSA) has once again raised concerns about the sale of Payment Protection Insurance (PPI). The Authority believes that many firms selling this form of insurance are not giving clear information about the cost of PPI policies or what they cover. As a result of its latest investigations, the regulator has banned [...]
The Financial Services Authority has today published the outcome of its most recent study into payment protection insurance selling standards in the UK, which reflects a continuing problem core as regards fairness in selling practices. The Financial Services Authority, responsible for regulating the financial industries within the UK, has previously outlined guideline selling practices for [...]
The University of Reading and business analysts Deloitte have announced today the launch of a combined initiative to research and study the implications of climate change on businesses at both a regional and national level. The combined research programme from the University of Reading’s Walker Institute for Climate System Research and Deloitte is set to [...]
Novae Syndicates have today announced the appointment of Richard Allen to the post of unit head of the Financial Institutions team, to succeed current boss Jonathan Butcher when he assumes a new role later on in the year. The appointment is set to bring Richard Allen to the forefront within the Financial Institutions Department, with [...]
Standard Life has introduced a number of changes to its Income Protection Plan with the aim of making it easier for customers to understand, and for advisers to recommend. The company has removed exclusions from the policy, including HIV and pregnancy, whilst also increasing the maximum benefit by £25,000, to £300,000. Sales of Income Protection [...]
Insurer OAMPS UK has today announced its acquisition of Keith Johnson & Co, in a move that will see the company grow its existing operations within the insurance sector to establish more of a footprint on the current market. The move will see OAMPS assume the assets and business of Keith Johnson & Co, a [...]
Sigma Claims Solutions have today announced two new high-profile appointments within their East Anglia operation to reflect a growing commitment towards customer service reform. The appointments to senior positions within its adjustment department are seen to be progressive in driving towards its aims of increasing service provision to existing clients, whilst working to develop new [...]
Transport insurance company TT Club has called for employees dealing with dangerous goods on land and during shipping consignments to be offered more comprehensive training under the International Maritime Dangerous Goods Code. The demands come off the back of calls from the IMO’s Dangerous Goods sub-committee last week, which proposed more radical training for employees [...]
The British Insurance Brokers Association (BIBA) and UNLOCK (The National Association of Ex-Offenders) have joined forces to encourage the insurance industry to take a more flexible approach to insuring people who have been convicted of a criminal offence. Each year the UK prison population and the number of convicted offenders increase: there are currently 7.3 [...]
Independent Insurance Services has today announced its decision to launch its new ‘Ecocover’ product range, which will see incentives introduced into commercial policies for environmentally friendly practice ad business. The Ecocover policy underlines the IIS commitment to environmentally friendly commerce, as the only insurance broker currently to be registered by the British Standards Environmental Management [...]
Towergate has today unveiled a planned acquisition of the UK’s leading insurance IT solutions provider Open International Ltd., which will see the company take its most ambitious steps yet towards expansion. In a move set to be worth an estimated £276 million, Towergate is poised to acquire the assets and business of all the companies [...]
Markets will probably require a significant period of time to adjust after the collapse of the sub-prime lending sector in the US, according to the International Monetary Fund’s global stability report released today. The report highlighted that the growing unrest in worldwide financial markets will serve to try the current market structure for credit distribution [...]
