First Senior Group has teamed up with Unique, Heath Lambert’s specialist insurance scheme catering for those with pre-existing medical conditions, in a deal which will see First Senior Group’s members provided with life assurance, home, travel and motor insurance. First Senior Group was established 15 years ago and specialises in mobility insurance and mobility finance. [...]
XL Capital Ltd (NYSE: XL) has announced that Chief Financial Officer Brian Nocco is to part ways with the firm after the end of the year. Nocco has held the post of chief financial officer since mid-2007, and is to stay on beyond the end of 2009 in order to help facilitate a smooth transition. [...]
People utilising a gap year to go travelling are becoming more cautious, according to Direct Travel Insurance. Direct Travel Insurance has seen backpacking policy sales surge by 25% over the 12 months ending July 2009, an indicator that despite the recession and tightening purse strings the overlooking of travel insurance is becoming less common. In [...]
PowerPlace has announced the appointment of Matthew Reed as its new chief executive officer. Reed, formerly Sales & Marketing Director at Towergate Risk Solutions, will take up his new post on 1 October. PowerPlace was established earlier in 2009 and since then more than 300 brokers have signed up to it, leading to an annual [...]
The construction of a new $7 billion city to be erected on the coast of Bahrain is insured by Islamic insurance group Takaful International. Water Garden City, currently being built by Albilad Real Estate, is one of the largest construction projects in the Gulf Cooperation Council. It will be a residential city, 10 minutes drive [...]
Specialist insurer Hiscox has commissioned research which has revealed that 53% of professional couples are leaving themselves open to under insuring by failing to inform their insurance company of the wedding presents they receive. Home contents rise in value by an average of £12,000 following a wedding. In a tenth of cases, wedding gifts alone [...]
Almost three years have passed since the law known as the Regulatory reform (Fire Safety) Order 2005, was introduced in October 2006. Despite the passing of time, Fire Safety Risk Assessments for holiday home owners remains, if you will excuse the pun, ‘a hot topic’. Mark Lavington, Director of Boshers Ltd, comments, “As specialist providers [...]
HM Revenue & Customs is developing new measures that could lead to higher charges for insurance contracts sold with household repair services and domestic appliances. The move follows a High Court ruling in favour of Homeserve, the emergency home plumbing and electrics firm. Homeserve’s 3rd party insurance call out product is provided by Inter Partner [...]
A group of Aviva policyholders will have their grievances heard in the High Court today, as the insurer seeks legal approval for the reattribution of its with-profits surplus. Aviva is proposing that a windfall of not less than £200 and up to £1,150 be paid to with-profits policyholders holding CGNU and Culac policies that were [...]
The Association of British Insurers (ABI) has joined forces with the Financial Services Authority (FSA) to launch an online calculator designed to help people gauge their income in retirement. According to the FSA, new research that takes into account how life events affect financial survival in later years indicates that 31% of Britons may see [...]
Tesco Personal Finance Plc (TPF) and Fortis (UK) Ltd have formalised their partnership to provide motor and home insurance. The deal was first announced in June, with Fortis replacing RBS-owned UKI Partnerships, the former partner of Tesco. Under the agreement Fortis will provide underwriting expertise and claims management with Tesco handling retail pricing, sales and [...]
Aviva has announced that John Kitson, UK general insurance sales & marketing director, is to leave the firm in March 2010. Kitson joined the firm 14 years ago, when it was known as Norwich Union, as head of brand and marketing. Kitson has stated he has enjoyed his time with Aviva, but that life moves [...]
The number of home insurance claims dropped 30% in the first six months of 2009 compared to the same period last year, Sainsbury’s Finance revealed this week. According to Sainsbury’s Home Insurance Claims Index, insurers received 373,000 home insurance claims in the first half of this year, down from 527,000 claims in the year ago [...]
Sun Life Direct’s annual total cost of dying survey has discovered that the average cost of a funeral has increased to £2,733, with additional extras meaning the total average bill can be as high as £7,098. However, almost half of people are not preparing themselves financially for the cost of death, which stands in excess [...]
Research by the Chartered Insurance Institute (CII) suggest that being “Chartered” is worth a lot in terms of public confidence, both in the insurance and financial planning sectors, and in the broader world of professional services. In the UK, Royal Charters have been granted by the sovereign on the advice of the Privy Council since [...]
Fabrics specialist, Vispack, has launched a new road safety pack, which it claims can save lives and reduce insurance claims. The pack, known as “The Driver’s Hub”, contains five high-visibility reflective vests, to be worn in the event of a vehicle emergency. An essential information card is also included, giving drivers the chance to record [...]
The insurance broker division of Brightside posted a 14% increase in turnover and a 10% rise in profit for the first half of this year. Revenues for the six months ending 30 June were £14.4 million, up from £12.6 million in the year ago period. Profit increased to £2.2 million, up from £2.0 million in [...]
Saga has launched motorcycle insurance for bikers aged over 50. Policyholders taking out the insurance are covered against loss, damage, and theft of their motorcycle, including a minimum 60 days EU cover. Customers can also choose added extras including personal accident cover, legal expenses, and helmet and leather cover. Recent research by Saga found one [...]
LV= Broker has announced the appointment of Tony Venus as head of the operational development and control team. He brings to the post decades of industry experience, and joins the firm from NIG where he served as head of branch support. Venus has also worked for Sterling Insurance and Legal & General in a variety [...]
Co-operative Financial Services (CFS) has reported pre-tax profit of £81.4 million for the 28 weeks to the 25th July, up from £73.4 million in the same period of 2008. Profit from the group’s General Insurance business increased to £14.6 million, compared with a loss of £1.5 million a year earlier, and the unit’s claims ratio [...]
