Heath Lambert Group has formed a partnership with Ai Claims Solutions in order to provide fleet managers with a fully integrated motor accident management service. The move is designed to bolster speed and efficiency of the claims process, including the usage of a 24/7 Driver Care Centre. In situations where the claimant is entirely free [...]
The widely tipped surge in cost of car and home insurance premiums has yet to appear, according to the AA British Insurance Premium Index. Car insurance premiums rose by 6% over the course of a year, but most recently have recorded a modest decline. The present average cost of comprehensive car insurance is £682, £37 [...]
ARAG has strengthened its underwriting and marketing teams with the addition of new recruits Tom Williams as senior underwriter and Glynis Moss as marketing assistant. Tom will be responsible for analysis and pricing of both before-the-event and after-the-event legal expenses risks. Prior to joining ARAG, Tom spent three years at Allianz in after-the-event underwriting. Glynis [...]
A survey conducted by MoneyExpert.com has revealed that the rising costs of petrol and premiums are pushing motorists off of the road. The increasing costs are affecting a quarter of all drivers. According to the website, the current cost of a litre of unleaded petrol now stands at 107.5p. However, despite soaring petrol costs the [...]
Prudential recorded a 13% rise in new business sales worldwide, in the first quarter of 2008. However, new sales at its US business fell 7% during the three months, to £165 million. The decline has been attributed to strong competition in the market and reluctance by US consumers to invest in certain products in the [...]
The Australia-based insurer IAG has rejected a takeover bid of A$7.6 billion (£3.6 billion) from rival insurance group QBE. Australia has over 100 insurance providers, and a general insurance industry worth an annual A$30 billion. However, intense competition has squeezed prices, whilst bad weather has seen payouts increase. This has resulted in many Australian companies [...]
Almost a third of retired people are forced to move, according to new research conducted by Saga Home Insurance. The home insurer believes that a strong reason behind the research’s findings is the soaring cost of living, with food and energy costs rising particularly quickly. Saga also found that 38% of retirees discovered that their [...]
Research conducted by uSwitch.com has revealed that ‘on the spot’ car insurance, taken out when a car is purchased on the forecourt, is more costly than convenient. According to uSwitch, the ‘on the spot’ insurance cost is an average of about 10% more expensive than if the motorist had approached the relevant underwriter, and 26% [...]
Francis “Bud” Lockwood has been appointed by Montpelier US to serve as the president of Montpelier Underwriting Inc. Lockwood will also assume a position upon the Montpelier US Executive Committee. He leaves behind the post of senior vice president of Catlin Underwriting Inc, and brings more than two decades of experience to his new role. [...]
Halifax Home Insurance has conducted research which reveals that DIY causes £173m of damage to the homes of neighbours annually. The research showed that 590,000 failed efforts at DIY caused some degree of damage to neighbouring properties, creating a typical bill that can run into hundreds of pounds. The destruction varied from walls tumbling down [...]
Travellers passing through Heathrow’s Terminal 5 may experience difficulties purchasing insurance for flight delays and lost baggage. A number of companies are withdrawing cover for those using the £4.3 billion terminal, which has seen various states of chaos since it opened on 27th March. Problems with baggage handling have led to record baggage mounds plus [...]
Drivers caught using their mobile phone whilst on the move could be hit with a large premium price rise of 30%. Allianz Insurance is to deal with those found guilty of using a mobile phone whilst driving in the same manner as those found guilty of dangerous driving. This replaces the old policy, under which [...]
Prudential has appointed headhunting agency, Whitehead Mann, to find a new chairman. The insurer has given itself plenty of time to replace Sir David Clementi, who has been chair of the group since 2002 and is due to retire in 2010. It is understood that Sir David, who is aged 58, is keen to pursue [...]
A new Ernst & Young report has revealed that the Gulf Co-operative Countries (GCC) are at the heart of the worldwide Takaful market. In 2006 the GCC contributed US$1 billion towards the global Takaful market total of $2 billion. Takaful, an Islamic insurance concept based within Islamic banking law, is booming. According to Ernst & [...]
Sainsbury’s Pet Insurance has released a survey, which reveals that more than one million Britons believe their cat or dog has been stolen over the course of the last five years. Nor is the astonishingly high figure pure paranoia, with the Missing Pets Bureau finding that some 38% of those who report their pet missing [...]
AA Personal Loans has conducted research revealing that most cars are broken into or vandalised whilst parked in residential areas. A majority, 72%, of drivers have had their car suffer damage through vandalism. Almost half, 43%, of drivers know somebody whose car has been broken into whilst parked in a residential area. Contrary to popular [...]
Erinaceous, the property services company, has been placed in administration. It is understood that KPMG has been appointed administrators and that creditors are likely to take control of some the group’s businesses, including insurance subsidiary EIS, which provides cover for commercial property and controls around £250 million in gross written premiums. In January, the group [...]
Airclaims has announced a quartert of new appointments, one in Miami and the remainder in London. In Miami, Miguel Uz is appointed to the position of aviation surveyor, bringing with him almost two decades of industry experience. Uz has experience in both the commercial and general areas of aviation, in addition to being fluent in [...]
Friends Provident, the life assurer that is currently a takeover target, has entered a new phase of the long-running saga of its courtship by JC Flowers. Earlier this month, Friend’s chairman Sir Adrian Montague called in the Takeover Panel, which has set a deadline of end April for a formal offer from the US private [...]
Endsleigh, the independent insurance intermediary, has launched a range of products for small and medium sized enterprises (SMEs). Available online via the group’s Business Insurance Services division, cover can be provided for a wide range of risks across the SME market. The new service is particularly aimed at independent retailers, trades people, surgeries, offices, teachers, [...]
