Car insurers take on board green issues
by Richard Kilner
Story link: Car insurers take on board green issues
Research has been conducted by uSwitch.com, which reveals that the number of green cars purchased last year rose by 70%, up from 10,000 to 17,000.
However, the green cars still only account for less than 1% of all Britain’s cars despite the fact that owning one could save the average motorist up to £300 per annum.
Green […]
NMB names new energy director
by Richard Kilner
Story link: NMB names new energy director
Newman Martin and Buchan has named Carolyn Bishop as the new energy division director.
Bishop leaves behind JLT, and brings with her over two decades of experience in offshore energy broking.
NMB’s energy division MD, Andrew Draycott, has praised Bishop’s knowledge of the sector, adding that he was sure she would prove to be an invaluable asset […]
New MD for Alec Finch
by Richard Kilner
Story link: New MD for Alec Finch
Paula Williams has been named by Alec Finch as the firm’s new managing director.
Williams will take up her post on 1 February.
She joined the firm in the latter half of 2007, leaving behind Jardine Lloyd Thompson where she had held the post of regional managing director for six years.
Alec Finch, the chairman of the Alec […]
Standard Life Reports Slowdown
by Stewart Douglas
Story link: Standard Life Reports Slowdown
Insurer Standard Life has today announced a slowdown in top line revenues over the last quarter of 2007, despite the fact that the group reported an increase of 15% in its domestic pensions and life businesses over the course of last year, in light of difficult market conditions and growing competition.
Over the last quarter, however, […]
Insurers face longer claims period after Lords’ ruling
by Richard Kilner
Story link: Insurers face longer claims period after Lords’ ruling
The House of Lords made a judgement today which effectively increases the time period during which a victim of abuse can seek financial compensation from their attacker.
The abuser’s employer may also be affected by the ruling, in areas such as education or social care.
Prior to the judgement a victim had to bring a sexual assault […]
Smith promoted by Carvill
by Richard Kilner
Story link: Smith promoted by Carvill
Dr Steve Smith has been promoted to president of Property Solutions for ReAdvisor by Carvill.
There he will lead a team focusing on Carvill’s Hurricane Index, listed on the Chicago Mercantile Index last year.
Dr Smith has expressed his delight at his new position and promotion.
ReAdvisory’s head, Bill Adamson, said that Dr Smith’s promotion reflected the achievements […]
Heath Lambert bolsters Manchester presence
by Richard Kilner
Story link: Heath Lambert bolsters Manchester presence
Heath Lambert has appointed Tom Hayes as head of office for its Manchester branch, effective from 1 February.
His soon-to-be predecessor David Rudman will thus be able to focus his energies on retaining and expanding major client relationships.
Other appointments include Mark Mansfield, who leaves behind Marsh to take up a post as business development executive.
In […]
CCV poach multiple Erinaceous staff
by Richard Kilner
Story link: CCV poach multiple Erinaceous staff
Cullum Capital Ventures has announced five new appointments from the Erinaceous Homelet sales team.
Sales positions have been taken up by Dave Wilson, John Chandler, Mitch Thomson, Tony Preece and Rob Battersea, who will work in MARAS, part of Cullum Capital Ventures.
Erinaceous Letsure’s former head of trading, Ian Sharpe, will join them.
The new sales personnel will […]
New CEO for MMC
by Richard Kilner
Story link: New CEO for MMC
Brian Duperreault has been named by Marsh & McLennan Companies as the firm’s new president and chief executive officer.
Duperreault brings extensive experience to his new position, having served as ACE’s chief executive for a decade and chairman of the board.
The market capitalisation grew eighteenfold under his leadership, soaring from $1.1bn to $19bn today.
Earlier in […]
Sheilas’ Wheels launches household product
by Gill Montia
Story link: Sheilas’ Wheels launches household product
Sheilas’ Wheels, the motor insurance brand that forms part of the esure group, is entering the household insurance market at the beginning of February.
The standard home cover product will include features that have been designed to appeal strongly to women, such as free online access to the CreditExpert identity fraud service provided by Experian (worth […]
Standard Life improves mortgage endowment payouts
by Gill Montia
Story link: Standard Life improves mortgage endowment payouts
Standard Life has reported that at least 45% of its 63,000 mortgage endowment policyholders, whose policies mature during 2008, will not be facing a shortfall.
In fact, the percentage could be higher because the company’s current projections do not take account of top-up payments under its “mortgage endowment promise”.
The figure is a huge improvement on 2007, […]
MRG 2008 Goals Unveiled
by Stewart Douglas
Story link: MRG 2008 Goals Unveiled
The Market Reform Group has today announced that the London insurance market is well on its way to achieving its 2007 objectives, on the day it launched its targets for development over the coming year.
The announcement came along with the establishment of the markets’ key objectives for 2008, of which E-placing and electronic factors will […]
Aon Launches 2008 Marine Review
by Stewart Douglas
Story link: Aon Launches 2008 Marine Review
Insurance group Aon has today launched its annual review of the Marine Insurance Market, which has turned up the likelihood of growing premiums for insurance providers in spite of an increased in the risks faced by the industry, according to the details published today.
According to the review, cargo markets are likely to continue to provide […]
Tuite-Dalton appointed to UIB board
by Richard Kilner
Story link: Tuite-Dalton appointed to UIB board
Philip Tuite-Dalton has been appointed to the board of UIB, the Lloyd’s broker.
Tuite-Dalton is the chief operating officer of UIB, and, since joining the group seven years ago, has held the post of director with a variety of subsidiary firms.
He will retain his position as chief operating officer, and will be tasked with bolstering the […]
Ingram steps down as chairman
by Richard Kilner
Story link: Ingram steps down as chairman
The chairman of Ingram Hawkins and Nock, Rex Ingram, has declared his intention to step down, over four decades after founding the firm.
The firm will be led by managing director Elizabeth Foster, and director and company secretary Neale, who is Rex Ingram’s son.
Ingram has said that he is proud the firm remained independent, not succumbing […]
CFC appoint new director
by Richard Kilner
Story link: CFC appoint new director
Graeme Newman has been named by CFC Underwriting as the firm’s new business development director.
Newman leaves behind DRS Insurance Service, which he co-founded and which was recently bought by Oxygen.
In his new role, his responsibilities will include the programmes for sales and marketing, as well as exploring business opportunities overseas and introducing new products to […]
Ship and cargo premiums set to fall
by Gill Montia
Story link: Ship and cargo premiums set to fall
The marine sector can expect ship and cargo premiums to fall by up to 10% during 2008, despite the fact that overall, risks in the sector are increasing.
According to Aon’s 2008 Marine Insurance Market Review, ship and cargo owners are paying less in premiums because claims have decreased as a result of advances in ship […]
Lloyd’s reduces risk exposure
by Gill Montia
Story link: Lloyd’s reduces risk exposure
Lloyd’s of London has reduced forecasts for the amount of risk its syndicates plan to underwrite during 2008, because of falling premiums.
In an annual update, the world’s oldest insurer reported that it plans to underwrite £15.95 billion of insurance risks this year, compared with £16.1 billion in 2007.
The news comes despite the establishment of nine […]
PPI revenue kept personal lending profitable
by Gill Montia
Story link: PPI revenue kept personal lending profitable
The Competition Commission has published details of its investigation into payment protection insurance (PPI), in which it claims that the lenders who sell the insurance can earn £1,200 on a policy that can cost only £20 to sell.
The Commission’s investigations follow complaints from consumer groups that PPI is expensive, unnecessary and difficult to claim.
The report […]
Towergate Complete McAra Deal
by Stewart Douglas
Story link: Towergate Complete McAra Deal
Leading insurance broker Towergate has today announced the successful acquisition of Scottish broker McAra Associates, as the latest target in its ongoing rapid acquisition drive throughout the UK, developing the the group’s presence and expertise within the Scottish marketplace.
The latest product of the group’s specific acquisitions division, the deal with McAra will see it incorporated […]
