Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 20th of January 2018
May 20, 2010

Risk managers face challenge in 2010

by Richard Kilner

Story link: Risk managers face challenge in 2010

Insurance broker and risk adviser Marsh has forecast continuing stability for the commercial insurance sector throughout 2010, but warned that new challenges will be posed for risk managers. The Competition Nets Rewards – Multinational Client Service Insurance Market Report 2010 describes how opportunities are increasing whilst at the same time risk management has a higher […]



Moneysupermarket launches motorbike insurance channel

by Gill Montia

Story link: Moneysupermarket launches motorbike insurance channel

Moneysupermarket.com has unveiled a “next generation” motorbike insurance comparison service, which claims to be the fastest and most accurate available. The tool has been designed in line with the price comparison website’s recently launched car insurance channel, where customers can get a quote in less than three minutes. Currently, quotes can be obtained from 19 […]



Hiscox establishes new schemes team

by Richard Kilner

Story link: Hiscox establishes new schemes team

Hiscox has taken a further measure to help bolster the profitability of its commercial book by creating a new schemes team. National Schemes Sales Manager Lee Turner will lead the eight strong team, which brings together expertise from throughout Hiscox to provide brokers with bespoke underwriting services. The team will also endeavour to make setting […]



New ILFC President and CEO named

by Richard Kilner

Story link: New ILFC President and CEO named

American International Group, Inc. (AIG) and International Lease Finance Corporation (ILFC) have announced the appointment of Henri Courpron as president and chief executive officer of ILFC. Courpron, an aviation industry veteran, is to be based in Los Angeles succeeds Interim President and Chief Executive Officer Alan Lund. Courpron began his career with Aérospatiale + Airbus-France […]



CUNA extends offering to building societies

by Gill Montia

Story link: CUNA extends offering to building societies

CUNA Mutual Group is launching a new life insurance product for the building society market, with the promise of paying out valid claims within 48 hours. FamilyLife+ is designed to provide peace of mind for the policyholder and their family by removing the worries that can be caused by unexpected funeral costs. During product testing, […]



May 19, 2010

Hiscox appoints pair of regional managers

by Richard Kilner

Story link: Hiscox appoints pair of regional managers

Specialist insurer Hiscox has announced the appointment of Bill Guiney as regional manager for Manchester, and Hannah Hosking as regional manager for Scotland and Ireland. Guiney has a wealth of experience, having worked in the sector for more than two decades and built up a series of broker relationships in the Manchester area. Previously of […]



BIBA appoints Millennium for PPI launch

by Gill Montia

Story link: BIBA appoints Millennium for PPI launch

The British Insurance Brokers’ Association (BIBA) has appointed Millennium Insurance as the exclusive provider of its new members’ scheme for payment protection insurance (PPI). Millennium, which is the distribution arm of Direct Group, will provide a product to be sold on a standalone basis, with or without a mortgage or personal loan. Key features of […]



Bowring Marsh opens Tokyo office

by Richard Kilner

Story link: Bowring Marsh opens Tokyo office

Bowring Marsh has enhanced its presence in Asia with the opening of its eighth office in Tokyo. The Tokyo office will specialise in property, earthquake and business interruption risks as well as placing large and complex international programmes for non-Japanese firms into the Japanese insurance market. Japanese clients will also be able to benefit from […]



Westinsure supports new brokers

by Richard Kilner

Story link: Westinsure supports new brokers

New start-up brokers are being supported by Westinsure Broker Alliance, which has launched a new service to help them establish and expand their business. Westinsure has collaborated with compliance consultants RWA Group and is presently providing 10 start-up brokers throughout the country with advice, supporting them through the bureaucratic FSA application process and compliance requirements. […]



Open GI launches eBroker

by Richard Kilner

Story link: Open GI launches eBroker

Open GI has launched eBroker for Open Trader, a new quote and buy solution aimed at brokers wishing to sell SME products via the internet. The solution is designed for Property Owners and Tradesman, with new products due to be released over the course of 2010. Established to take advantage of the growth in SMEs, […]



ABI publishes proposals on simplified financial advice

by Gill Montia

Story link: ABI publishes proposals on simplified financial advice

The Association of British Insurers’ (ABI) latest response to the Retail Distribution Review (RDR) comes in the form of proposals designed to give consumers better access to simple and affordable financial advice. In a policy paper entitled “Increasing consumer access to advice” the ABI reaffirms its support for the Financial Services Authority’s RDR but warns […]



ABI supports investigation into rights issue fees

by Gill Montia

Story link: ABI supports investigation into rights issue fees

The Association of British Insurers has pledged its support to the Institutional Investor Council, a new body to be set up by the Institutional Shareholders’ Committee (ISC). The ISC is a forum that allows the UK’s institutional shareholding community to exchange views and, on occasion, coordinate their activities in support of the interests of UK […]



May 18, 2010

Admiral creates 751 new jobs

by Gill Montia

Story link: Admiral creates 751 new jobs

Car insurer Admiral claims to be bucking the trend in the economic downturn by recruiting 490 people so far this year and announcing plans to take on a further 261 workers by the end of June. With record turnover of over £1 billion in 2009 and customer numbers now past the two million mark, the […]



Endsleigh provides free key cover

by Richard Kilner

Story link: Endsleigh provides free key cover

Student insurance provider Endsleigh Insurance Services Limited has announced that it is offering students free key insurance for those moving into campus accommodation, or accommodation not already protected by an Endsleigh block possessions insurance scheme. Every year more than 5 million people lose their keys, causing great stress and costing time and money to replace. […]



Aviva and Open GI offer real-time rating

by Richard Kilner

Story link: Aviva and Open GI offer real-time rating

Brokers can now benefit from competitive, real-time rates following the news that Open GI’s motor quote engine has been integrated with Aviva’s dynamic web-based rating engine. The rates are available on an exclusive basis to software houses, via the new PowerPoint product range of Aviva. Open GI will roll out motor during May, and will […]



Free Call Recording from Callstream

by Richard Kilner

Story link: Free Call Recording from Callstream

A year after the FSA introduced new rules obliging firms dealing with money to record calls Callstream is offering a free call recording service to the UK insurance industry. This enables insurers to avoid the unnecessary expense of installing hardware to monitor calls, cutting costs and saving time. Callstream already has a number of network […]



The importance of high quality risk information

by Richard Kilner

Story link: The importance of high quality risk information

Bowring Marsh has commissioned new research which reveals that the quality of risk information presentation is a critical factor in enabling insureds to get the best terms possible from insurers. The research involved underwriters in seven major global insurance centres and asked them to state the most important considerations when choosing whether to quote for […]



Mumford urges caution over Pru rights issue

by Richard Kilner

Story link: Mumford urges caution over Pru rights issue

In response to Prudential’s record-breaking rights issue of £14.5bn, stock market veteran Paul Mumford, Senior Fund Manager at Cavendish Asset Management, has warned shareholders to be wary. Mumford states that new shares will be discounted by 80%, from Friday’s closing price of 542.5p to 104p, and permit Prudential to proceed with its $35.5bn acquisition of […]



Bournemouth cheapest for home insurance

by Gill Montia

Story link: Bournemouth cheapest for home insurance

Residents of Bournemouth are paying the lowest home insurance premiums, according to new research from moneysupermarket.com. The price comparison website is making the point that home insurance premiums vary hugely according to postcode, as well as other risk factors. An analysis of over two million home insurance quotes during a 12-month period revealed that homeowners […]



MMA launches SME offering on SSP

by Gill Montia

Story link: MMA launches SME offering on SSP

MMA Insurance has announced that its Master Tradesman and Offices & Surgeries products are now available via the SSP platform. The launch aims to provide brokers with the most efficient way of working with the company, while also enhancing MMA’s commercial lines offering available via electronic trading. The firm’s commercial director, Derek Plummer, comments: “The […]