Daily Insurance Industry News
 
 
Daily Insurance Industry News
Friday 20th of April 2018
May 29, 2009

Pensions crisis looming with 50% saving nothing

by David Masters

Story link: Pensions crisis looming with 50% saving nothing

Half of Brits aged 20 to 60 risk a postponed retirement by not putting any savings into a pension fund, according to the results of a new BBC survey. Only one in three of those under thirty are putting money in a pension pot. Even in the older age group of 41 to 60 year […]



‘Crash for cash’ fraud increasing

by David Masters

Story link: ‘Crash for cash’ fraud increasing

The number of UK motorists deliberately crashing their cars to make fraudulent insurance claims is increasing, the Insurance Fraud Bureau (IFB) warned this week. ‘Induced accidents’, or ‘crash for cash’ accidents, as they are more commonly known, involve a driver deliberately causing a crash so as to profit from fraudulent insurance claims. After the crash, […]



May 27, 2009

Allianz teaches finance using fluffy pigs

by David Masters

Story link: Allianz teaches finance using fluffy pigs

Insurance giant Allianz uses toy pigs to train its underwriters in financial management, The Times reports. The Germany-based insurer uses novelty stuffed pigs alongside a plastic farm and wads of fake cash to make finance training more interesting. According to P3, who run the training programme, using toy pigs helps trainees to remember up to […]



May 26, 2009

Car hire excess sales on the rise

by Richard Kilner

Story link: Car hire excess sales on the rise

For the past five years jml insurance has acted as an introductory agent on behalf of insurance4car.hire, during which time they have introduced 17,000 clients to the company through websites such as www.jml-insurance.co.uk and www.jmlvillas.com. jml’s Philip Suter has stated that there is increasing awareness amongst the public that renting a car also involves additional […]



Compass Underwriting appoints Ignition NBS

by Richard Kilner

Story link: Compass Underwriting appoints Ignition NBS

Independent Accident and Health underwriting agency Compass Underwriting Ltd has appointed broker marketing specialist Ignition NBS Ltd to formulate and implement a customer loyalty programme through a specific client area on the firm’s website. Users are able to utilise a dedicated client portal to access specialist Compass services as well as participating in the Red […]



Heath Lambert releases tailored hotel product

by Richard Kilner

Story link: Heath Lambert releases tailored hotel product

Insurance broker Heath Lambert has crafted a bespoke insurance product for the hotel industry to help the sector tackle areas such as under-insurance, varying trends over the course of the year, and room occupancy rates. The new product has been developed to be flexible and is supported by AA rated insurers, with service provided by […]



MP claimed £31,000 for damage covered by insurance

by David Masters

Story link: MP claimed £31,000 for damage covered by insurance

Labour MP Ruth Kelly claimed MP expenses to pay for repairs to flood damage on her home despite being covered by building insurance, the Telegraph reported this week. The former transport minister used her taxpayer funded allowance to pay for £31,000 of repairs to her constituency home in Bolton following a burst water pipe. Miss […]



Australia’s floods leave thousands isolated

by David Masters

Story link: Australia’s floods leave thousands isolated

Torrential rain in northeast Australia has created an ‘inland sea’, leaving thousands of homeowners cut off from the mainland. At least two people have died from the extreme weather, whilst thousands more have fled their homes. Up to 20,000 people in small communities have been isolated by the floodwaters, New South Wales State Emergency Services […]



May 22, 2009

AIG’s CEO to step down from the board

by Richard Kilner

Story link: AIG’s CEO to step down from the board

American International Group, Inc. (AIG) has announced changes at the very top of the firm with chairman and chief executive officer Edward M. Liddy indicating he is to step down from the board once successors have been selected. Earlier this week the board announce half a dozen new directors would stand for election on 30 […]



Amlin appoints group operations officer

by Richard Kilner

Story link: Amlin appoints group operations officer

Specialist insurer Amlin has named Andrew Grant as the firm’s new group operations officer. He has worked as a consultant regarding integration and restructuring for the last two years, and has worked for a number of clients including the Royal Bank of Scotland. Earlier in his career he held the posts of managing director and […]



May 21, 2009

Skandia enhances offering with L&G tracker funds

by Gill Montia

Story link: Skandia enhances offering with L&G tracker funds

Skandia has announced that it has increased its passively-managed fund offering, by introducing eight Legal & General (L&G) index trackers to its Selestia Investment Solutions platform. The pensions and savings group says many investors are re-aligning their appetite for risk and that passively managed funds can be a useful alternative to UK Equity funds. Responding […]



May 20, 2009

Norwichunion.com to become Aviva.co.uk

by Richard Kilner

Story link: Norwichunion.com to become Aviva.co.uk

Norwich Union is to change its online presence as it rebrands to Aviva, and its customer website will shift to Aviva.co.uk from 1 June. The brand change will herald a single global brand, the fifth largest in the world. Twelve years ago Norwichunion.com was launched and over the course of its lifespan some 60m visitors […]



Chubb appoints Worldwide Accident & Health COO

by Richard Kilner

Story link: Chubb appoints Worldwide Accident & Health COO

The Chubb Group of Insurance Companies has announced the appointment of Stuart A. Spencer as the new chief operating officer of Worldwide Accident & Health. He leaves behind AIG, where he held the post of president of Worldwide Accident and Health Division of AIG’s Life Companies, to join the firm. Earlier in his career Spencer […]



Amlin and Vega team up

by Richard Kilner

Story link: Amlin and Vega team up

Amlin Underwriting Services has teamed up with Oslo-based underwriting firm Vega Insurance Management AS to provide the Nordic region with marine hull & machinery and offshore energy risks underwriting support. Hans Terje Anonsen and Terje Adolfsen founded Vega three years ago, and the pair will utilise their extensive knowledge of the region to find marine […]



ABI head moves to Financial Reporting Council

by Gill Montia

Story link: ABI head moves to Financial Reporting Council

Stephen Haddrill, currently director general of the Association of British Insurers, is to become chief executive of the Financial Reporting Council (FRC), where he will be replacing Paul Boyle. Mr Haddrill will take up his new post in mid-November, when he will also be appointed as a member of the FRC Board. Commenting on the […]



May 19, 2009

Hastings Direct to hire 150

by Richard Kilner

Story link: Hastings Direct to hire 150

Hastings Direct insurance has announced it is to hire 150 new employees throughout the company, in departments including marketing, finance and call centre. The news will come as a welcome bright spot in the very overcast economic skies which now see unemployment over 2 million and many believing it will be substantially worse by the […]



Cardinus launches Health & Safety portal for SMEs

by Gill Montia

Story link: Cardinus launches Health & Safety portal for SMEs

Cardinus has today launched an e-commerce website focused on the small and medium sized enterprise (SME) market. The company, which is the risk management subsidiary of THB Group, says it has been experiencing growing demand from SMEs help with the “tide of health & safety legislation”. Subscribers to the new site can purchase credits and […]



Zorbing holidaymakers need to check travel insurance

by Gill Montia

Story link: Zorbing holidaymakers need to check travel insurance

Adventurous holidaymakers have required AXA to revise some of its travel insurance terms to include activities such as Zorbing and Octopush. With the rise in popularity of experience-based holidays showing no signs of abating, the insurer is reminding holidaymakers that it is essential to have the right level of cover in place before undertaking adrenaline-rush […]



Lloyd’s secures Portuguese establishment licence

by Gill Montia

Story link: Lloyd’s secures Portuguese establishment licence

Lloyd’s of London has been granted an establishment licence in Portugal in a move that will allow Lloyd’s underwriters to appoint coverholders to write establishment business in the region. A branch has already been set up in the country, with Juan Arsuaga appointed as Lloyd’s General Representative, in addition to his post as managing director […]



Kwik Fit Insurance sees home policy sales soar 42%

by Richard Kilner

Story link: Kwik Fit Insurance sees home policy sales soar 42%

Kwik Fit Insurance has enjoyed strong sales figures for home policies during the last month whilst aiming to expand its presence in the home insurance sector. The intermediary, which is based in Uddingston, has reported a surge in home policy sales compared to the same period in 2008, with a rise of 42%. Comparing the […]