Archive for April, 2010

Defaqto offers advice over ash cloud

Travellers have been urged to check with their insurer regarding coverage for cancellation or delay due to the unprecedented ash cloud that has made British airspace a no-fly zone. Defaqto, which has offered the advice, also advocates those with an ATOL protected packaged trip to check with their tour operator or travel agent to explore [...]

April 16, 2010 | 0 Comments More

Aviva unveils new technology for predicting flood risk

Aviva has unveiled new technology to help it more accurately predict the risk of flooding for homes and businesses. Aviva, Britain’s largest insurer, said the map will enable it to more accurately assess the risks of each individual customer. The technology, developed in partnership with JBA Consulting, uses digital technology to simulate which areas are [...]

April 16, 2010 | 0 Comments More

ABI advice on ash cloud disrupted travel plans

The Association of British Insurers (ABI) has issued the following advice to those whose travel plans have been disrupted due to the volcanic ash dust cloud: Volcanic eruptions are not always covered by travel insurance for cancellation and delay. However, some policies will cover this, so you should contact your travel insurance company to check [...]

April 16, 2010 | 0 Comments More

Pitney Bowes launches Risk Data Suite

Pitney Bowes Business Insight (PBBI) has launched a new product aimed at making rates and claims decisions faster and more accurate. Risk Data Suite combines geospatial datasets and historical information on a variety of perils including flooding, subsidence, crime and arson. It has the ability to analyse this data via PBBI’s MapInfo Professional location intelligence [...]

April 16, 2010 | 0 Comments More

Energy insurers must cope with rising demand

President of the Insurance Information Institute Dr Robert P. Hartwig has warned that despite the recession the global desire for energy remains undimmed, and rising demand for decades to come must be addressed by insurers and power generators. Dr. Hartwig made his assessment in Prague, at an AEGIS London-hosted energy conference. With the rapidly rising [...]

April 15, 2010 | 0 Comments More

CETA and Mortgage Brain form partnership

CETA Insurance has announced that it has joined Mortgage Brain’s Affinity Club, opening up a range of new revenue-generating possibilities via its extensive suite of commercial and personal lines insurance. Broker clients of Mortgage Brain will also benefit from access to competitive insurance coverage, including household and ASU policies. David Quick, MD of CETA, has [...]

April 15, 2010 | 0 Comments More

Thornside appoint key account relationship manager

Capita Insurance Services’ pet insurance arm Thornside has announced the appointment of Mark Outing to the post of key account relationship manager. In his new position Outing will be tasked with fostering good relationships with key clients and managing them on a daily basis. His initial duties will be to familiarise himself with Thornside’s existing [...]

April 15, 2010 | 0 Comments More

BIBA confirms volcanic ash cover on travel policies

The British Insurance Brokers’ Association (BIBA) has issued advice for travellers affected by the disruption caused across the UK’s airports by a cloud of ash from a volcanic eruption in Iceland. The Association has confirmed that BIBA Protect travel insurance policies, underwritten by Tokio Marine Europe Insurance Limited and purchased from a BIBA broker, will [...]

April 15, 2010 | 0 Comments More

InterResolve builds acquisition potential

InterResolve has secured a major funding deal with venture capitalist, Balderton Capital. The injury claims specialist says it will use the cash injection to expand its service, which involves the acquisition, processing and settling of personal injury claims directly between claimants and insurance companies. Where claims are straightforward and likely to be admitted, InterResolve takes [...]

April 15, 2010 | 0 Comments More

SAS launches Risk Management for Insurance

SAS has launched SAS Risk Management for Insurance, which it describes as “a comprehensive solution for risk analysis and risk-based capital calculation”. The data management and reporting platform, which includes an insurance-specific data model, can help both life and property & casualty firms implement the Solvency II standard model for calculating risk-based capital. Its business [...]

April 15, 2010 | 0 Comments More

Lords demand more from insurers on piracy

The House of Lords’ European Union Committee has published a new report entitled “Combating Somali Piracy: the EU’s Naval Operation Atalanta”. Atalanta is a military operation aimed at deterring and preventing acts of piracy and armed robbery off the coast of Somalia and most importantly, in the Gulf of Aden, which the study describes as [...]

April 15, 2010 | 0 Comments More

Trade credit claims up 95%

The Association of British Insurers (ABI) has revealed the extent to which trade credit insurance helped UK businesses in 2009. During the year, insurers dealt with 22,791 claims, with the total amount paid out rising from £164 million in 2008, to £320 million. According to the ABI, the 95% year-on-year increase reflects the ongoing effects [...]

April 15, 2010 | 0 Comments More

Pru makes AIA merger appointment

Prudential has appointed Rob Devey, chief executive of Prudential UK and Europe, to lead the integration of Prudential Corporation Asia and AIA Group. Mr Devey will head the project team responsible for the merger, bringing with him the experience of integrating the Retail Banking Operations of Halifax and Bank of Scotland, in a previous post. [...]

April 15, 2010 | 0 Comments More

Guy Carpenter announces brace of senior appointments

Global risk and reinsurance specialist Guy Carpenter & Company, LLC has announced the appointment of Chris McKeown as chief executive officer and president of the firm’s North America Broking Operations. In assuming his new position McKeown takes on responsibility for Guy Carpenter’s treaty business in both the United States and Canada. Elsewhere in the firm, [...]

April 14, 2010 | 0 Comments More

Elite targets new markets with enhanced offering

Elite Insurance has launched a number of products that will support its expansion into new markets. The legal expenses and financial insurance provider is offering a decennial insurance policy in the French market; as the name suggests, the construction liability cover runs for ten years. In addition, the firm is offering accident and sickness & [...]

April 14, 2010 | 0 Comments More

Capita acquires Sureterm Direct

Capita Group has acquired Huntingdon-based specialist motor insurer, Sureterm Direct. The purchase will enhance Capita’s offering and bring an estimated 75,000 policyholders to the group’s insurance intermediary and administration unit, Capita Insurance Distribution (CID). Sureterm, which employs around 140 staff, already operates in markets that complement CID’s Lancaster and Hero brands, and the acquisition will [...]

April 14, 2010 | 0 Comments More

Aggregator sites to present new challenges

New research from Accenture suggests that the rapid pace of online adoption among UK insurance customers will not abate. The management consultancy’s recent survey indicates that 63% of Britons have purchased motor insurance online; 45% home insurance; and 23% life assurance. Over the next 12 months, 69% of respondents said they will be switching or [...]

April 14, 2010 | 0 Comments More

Prestige launch Sure and Simple with Open GI

Brokers utilising Open GI’s quotations engines can now benefit from a new Full-Cycle EDI Household product. The product, from Prestige, is the first from the underwriting agency on Open GI and is named Sure and Simple. Open GI’s system now includes over 1,000 products, with more than 600 Full Cycle EDI products, 175 of which [...]

April 13, 2010 | 0 Comments More

Reaction to pay-as-you-go Insure the Box

Moneyextra.com’s head of Insurance, Peter Gerrard, has commented upon the launch of new pay-as-you-go Insure the Box. Gerrard has described the launch as an interesting one, as motorists tend to be wary of black box technology monitoring their driving habits. Areas of concern for consumers include speed limits, particularly whether or not they would be [...]

April 13, 2010 | 0 Comments More

Crawford & Company keep in touch with Cumbria

Devastating winter floods struck Cumbria in the winter, an event to which Crawford & Company was amongst the first to react. Since then, the firm has worked hard to maintain contact through a combination of targeted communications and visits to the area. Crawford & Company organised a trio of flood surgeries in co-operation with the [...]

April 13, 2010 | 0 Comments More