Select & Protect has reported a surge in sales of Mortgage Payment Protection Insurance (MPPI) with sales increasing by over 90% since the launch of its new offering, in July. The firm’s sales director, Paul Firkins, says: “Our MPPI product boasts a number of market leading selling points including the option to sell unemployment only [...]
Hiscox, a leading kidnap and ransom insurer, has lent its support to a new counter-piracy alert system, the Ship Security Reporting System (SSRS). Pole Star developed SSRS to provide a real-time connection between naval operations and a ship’s Ship Security Alert System (SSAS), thereby slashing the time it takes for a ship under pirate attack [...]
Aon Consulting has announced the appointment of Eddie Franco to the Global Benefits Practice as vice president. An industry veteran, Franco brings over three decades of experience to Aon, and has worked and lived in more than a dozen countries. He has expertise in the design of reward programmes of various scale, and recently served [...]
Bupa is “significantly enhancing” its group income protection offering from 1st January 2010. The healthcare company has been studying customer and intermediary feedback and in future will provide early intervention and return-to-work support on all group income protection schemes, with no increase to premiums. Dedicated claims assessors and nurses will be allocated to each case [...]
Ironshore Inc. is expanding its Global Property division with the launch of a new Global Builders Risk Property business. The new program will be led by recently appointed Builders Risk VP Joseph M. Vierling, who will report to the head of Global Property, John Murphy. Vierling brings more than two decades of experience in risk [...]
Thornside has announced that it has been appointed by US-based Assurant to provide and administer the latter’s new pet insurance product, for the next three years. The firm, which forms part of the Capita group, will provide dedicated sales, fulfilment services and claims handling to Assurant’s Protect your Bubble brand, which is underwritten by Agria [...]
MORE TH>N is participating in the launch of an iPhone application that can help drivers who are involved in accidents. The move is in response to research showing that 38% of drivers fail to record sufficient third party details in the aftermath of an collision. The insurer claims the Car Claim accident tool is the [...]
Oxygen Insurance Brokers’ swift growth has been recognised by the Sunday Times Virgin Fast Track 100. The firm, a Lloyd’s broker, has featured in fourth place out of one hundred in the list which records the private firms with the fastest growing sales over a three year period. Oxygen is also the only firm from [...]
Guy Carpenter & Company has been named by Reinsurance magazine’s readers and subscribers as the Reinsurance Broker of the Year. The award was given at the Readers’ Awards 2009, which seek to recognise the best performing firms throughout the reinsurance industry. President and Chief Executive Officer Peter Zaffino has expressed his delight on behalf of [...]
AXA is urging homeowners to consider their plumbing, as the Christmas break approaches. According to the insurer, around 35% of Britons will be away for a few days over the Christmas and winter holiday period, when burst pipes can be a bigger threat to belongings than burglary. During December 2008 and January 2009, more people [...]
Bupa has released figures showing that just two percent of critical illness claims were turned down due to non-disclosure, and less than ten percent were declined for not complying with the policy definition. Bupa Individual Protection’s product development chief, Steve Casey, described the figures as good news for customers and an improvement on the numbers [...]
Liberty International Underwriters Europe (LIU Europe) is embarking upon a move to target larger regional Professional Indemnity (PI) risks within the United Kingdom. The move will augment the firm’s existing PI book, and comes after LIU Europe has enjoyed considerable success in this area of business. LIU Europe will target larger professional businesses in the [...]
Sterling Insurance Group has announced that it will be increasing premium rates for high net worth clients at renewal, from 1st January 2010. Wealthy clients can expect a 7.5% hike on clean risks, excluding any increases applicable to add-on covers, with a further 3% direct debit charge on selected products. The insurer says the rises [...]
Esure chairman, Peter Wood, is reported to be negotiating the purchase of the business. Mr Wood pioneered the direct selling of insurance over the telephone back in 1985, when he launched Direct Line. He went on to set up esure in a joint venture with Halifax in 2001, and in 2005 launched the Sheilas’ Wheels [...]
Brit Insurance has announced that Peter Burrows is to be promoted to the newly created position of executive chairman of the firm’s UK strategic business unit. Burrows is presently the chief executive officer of Brit UK, and will take up his new post on 1 January of next year. Group Chief Executive Officer Dane Douetil [...]
Home insurer LV= has commissioned research which reveals that 35% of Britons will be shopping using online auction sites and marketplaces this Christmas. Worryingly, four in ten have indicated they would not take issue with purchasing potentially stolen goods if the price was suitable. Most common amongst stolen goods sold online are electronic devices such [...]
Insurance broker and risk adviser Marsh has announced the appointment of Jonathan Ballard as the jewellers’ block specialist in the Specie Practice in the firm’s London office. He leaves behind the post of divisional director with SBJ Global Risks to join Marsh, and brings with him seven years of experience in placing jewellers’ block business. [...]
Young Marmalade, the specialist car insurer for young people, has taken a new step in its efforts to reduce the number of accidents on British roads. Working in partnership with i-Kube, (developed by Motaquote and Royal & Sun Alliance Group), the GPS device will charge drivers £45 for driving between 11pm and 5am, the worst [...]
The 19th December will be a good day to leave the car behind and take the bus, Virgin Money Car Insurance is predicting. As the pressures of the festive season mount, the last Saturday before Christmas becomes the most dangerous day of the month for drivers, with claims up around 40% on the average. The [...]
