Scotland to extend time limit on personal injury claims
by Gill Montia
Story link: Scotland to extend time limit on personal injury claims
Commercial law firm, DWF, is opposing proposals by the Scottish Law Commission (SLC) to extend the time limit on personal injury claims from three to five years.
The reforms are intended to help those bringing claims for occupational diseases including asbestosis and mesothelioma, but DWF insurance partner, Simon Denyer, finds the SLC proposals surprising because “they […]
Friends Provident withdraws scary income protection mailshot
by Gill Montia
Story link: Friends Provident withdraws scary income protection mailshot
Friends Provident has been criticised by the Advertising Standards Authority (ASA) for sending out a mailshot that could be mistaken for medical test results.
The marketing material was sent to 10,000 people in a brown envelope that looked as if it contained test results or hospital medical records.
The envelope was marked “X-Ray film, please […]
Spike in burglaries expected as clocks spring forward
by Richard Kilner
Story link: Spike in burglaries expected as clocks spring forward
Saga has advised homeowners to be on their guard against burglary, as the rates of the crime rise during the period when the clocks go forward.
Paul Green, Saga’s communications chief, explained that the reasoning behind the crime increase is thought to be that lighter evenings make people feel more secure.
Green went on to say that […]
London businesses ill-prepared for terrorist attack
by Gill Montia
Story link: London businesses ill-prepared for terrorist attack
Marsh, the insurance brokerage and risk management consultancy, has warned that many London businesses could be under-prepared for a terrorist attack.
In a recent survey the firm questioned delegates from medium-sized to large companies located in the Greater London Area, who were attending a conference on the threat of terrorism.
One-third of those surveyed did not have […]
Markel board duo promoted
by Richard Kilner
Story link: Markel board duo promoted
Two members of Markel International’s board have been promoted.
Jeremy Brazil leaves behind the post of London underwriting director to assume the role of active underwriter for Syndicate 3000.
William Stovin has been promoted to the position of chief administrative officer.
The firm’s president and chief operating officer, Gerry Albanese, has praised Stovin’s performance in every role he […]
Aitchison recruited by Heritage
by Richard Kilner
Story link: Aitchison recruited by Heritage
Paul Aitchison has been appointed by Heritage to the position of business development manager at Heritage Mutual Management.
In the newly created London-based post Aitchison will be tasked with providing the firm’s clientele with longterm risk management solutions.
In assuming his post, he leaves behind Benfield Group where he served as an aerospace reinsurance broker.
Heritage London and […]
Car modifications can be costly
by Richard Kilner
Story link: Car modifications can be costly
According to new research conducted by Confused.com modifying a vehicle can increase its insurance premium by up to 139% (£545).
Using a 20 year old man with no claims/convictions with a VW Golf 1.5l as a template, the price comparison site discovered that quotes for cars with and without modifications varied by up to £1026.42, or […]
ABI impatient on personal injury claim reforms
by Gill Montia
Story link: ABI impatient on personal injury claim reforms
UK insurance companies are urging the Government to reform the legal system that deals with personal injury claims.
According to the Association of British Insurers (ABI) legal costs in the current system are high, while settlement times can be lengthy.
The Government has already drawn up plans to improve the process and the ABI is keen to […]
Specialist insurance vital for “health tourists”
by Gill Montia
Story link: Specialist insurance vital for “health tourists”
The Post Office is warning so called health tourists that they need to purchase specialist travel insurance before they make a trip abroad for the purpose of undergoing medical treatment.
The number of Britons taking advantage of faster and cheaper treatments abroad is rising by around 30% per annum, with over 70,000 people choosing to have […]
Brit appoints two underwriters in Northern Ireland
by Richard Kilner
Story link: Brit appoints two underwriters in Northern Ireland
Brit Insurance Holdings has bolstered its presence in Northern Ireland with two appointments: Lawrence Burgess is named as motor fleet underwriter and Joe Murphy becomes underwriter for property and combined package.
The appointments have been made as part of the firm’s strategic plan to enhance its presence and market share in the province.
Burgess joins Brit from […]
Loudon made chairman of Whittington
by Richard Kilner
Story link: Loudon made chairman of Whittington
John Loudon has been named as Whittington Group’s new non-executive chairman.
Loudon presently occupies the role of chairman for both Caneminster Limited and XL London Market Ltd.
Tony Hobrow, the group CEO, has expressed his delight at at Loudon’s acceptance of the appointment.
Hobrow went on to say that the new chairman’s extensive experience would prove valuable in […]
10,000 flood vicitms wait to return home
by Gill Montia
Story link: 10,000 flood vicitms wait to return home
Research on the victims of last summer’s floods by BBC’s Radio Five Live, asserts that over 10,000 people have not yet returned to their homes.
Figures from local authorities across England show that over 5,000 households remain in temporary accommodation but the actual number could be greater because the authorities may not be aware of all […]
XL adamant that it is not part of a lawsuit
by David Masters
Story link: XL adamant that it is not part of a lawsuit
Frustrated by the media’s poor quality reporting, XL Capital Ltd. (XL) has released a statement to clarify that it is not subject to a lawsuit filed by Merrill Lynch International.
Merill Lynch International has filed a lawsuit against XL Capital Assurance Inc. (XLCA), a subsidiary of Security Capital Assurance Ltd. The lawsuit has been filed […]
Cardif makes “key move” to acquire Direct Life
by David Masters
Story link: Cardif makes “key move” to acquire Direct Life
Direct Life & Pension Services has been acquired by Cardif Pinnacle.
Direct Life and its 200 employees is based in Chichester. It will continue operations from Chichester as a stand-alone branch of Cardif.
Direct Life offers term life and critical illness insurance, as will as other insurance products. It trades under than name […]
AXA takes over at SBJ
by David Masters
Story link: AXA takes over at SBJ
AXA have reported that their attempt to purchase SBJ Group has been successful after their offer was accepted by 90% of the group’s shareholders.
The offer has been accepted unconditionally in every respect, but is being kept open for additional acceptances until further notice.
The FSA have approved the purchase, which means that AXA can now take […]
Hidden credit/debit card costs abroad
by Richard Kilner
Story link: Hidden credit/debit card costs abroad
Research conducted by uSwitch reveals that Britons will spend £23bn using credit and debit cards whilst on holiday this year.
However, most travellers are unaware that banking costs incurred, in total, will amount to £686m.
The majority of consumers are aware of fees for both cash withdrawals and exchange rates, but are unaware that a fee averaging […]
25% of Britons lack home contents insurance
by Richard Kilner
Story link: 25% of Britons lack home contents insurance
According to Confused.com 25% of all homeowners lack home contents insurance.
The vast majority of homes now have goods that are of significant value, such as plasma televisions, computers, games consoles and so on, which makes the high figure even more surprising.
A typical family of four could need to spend only £43.98 per week to insure […]
FCO urges older travellers to check their insurance
by Richard Kilner
Story link: FCO urges older travellers to check their insurance
The UK Foreign and Commonwealth Office has issued advice to over 55s going on holiday, urging them to make certain they have the necessary travel insurance.
Year on year the number of older holidaymakers is on the rise, with an estimated 20% engaging in risky behaviour they would not countenance at home.
Slightly less than 20% report […]
Easter to see rise in DIY claims
by Richard Kilner
Story link: Easter to see rise in DIY claims
Over the course of Easter DIY mishaps are forecast to cause £25m worth of damage, according to home insurers.
The prediction is based upon previous experience, when the break has been seized upon as a time to attempt DIY projects, only for more harm than good to be caused.
Home insurers typically see a spike in claims […]
Scottish Equitable and Guardian disappoint with-profits policyholders
by Gill Montia
Story link: Scottish Equitable and Guardian disappoint with-profits policyholders
Scottish Equitable and Guardian are reducing their with-profits maturity values this year. Both funds are closed to new investors and managed by Aegon UK, part of a global life insurance and pension group.
In the case of Guardian, the payout on a £50-a-month 25-year with-profits endowment plan will be £51,903, which is 9% down on the […]
