Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 20th of January 2018
July 28, 2010

Marsh secures corporate social responsibility award

by Gill Montia

Story link: Marsh secures corporate social responsibility award

Marsh has received the UK Corporate Social Responsibility Programme award at the 2010 British Insurance Awards. The broker’s “Helping People and Communities at Risk” programme comprises employee volunteering, matched giving and sustainability activities, in addition to major support for its charity of the year, CLIC Sargent. Commenting on the news, the firm’s head of communications […]



Ecclesiastical appoints Ansvar CEO

by Gill Montia

Story link: Ecclesiastical appoints Ansvar CEO

Ecclesiastical has appointed Andrew Moon as the new chief executive officer for its Australian business, Ansvar Insurance Limited, replacing John Peberdy who announced his retirement earlier this year. Mr Moon has held senior management positions in a number of organisations, including Tower Life’s Australian operations, Colonial State Bank, First Chicago’s Australian operations and merchant bank, […]



July 27, 2010

Marsh appoints global energy leader

by Richard Kilner

Story link: Marsh appoints global energy leader

Marsh has announced that it has appointed Martin Clark to the post of global Energy Practice Claims leader. In his new post Clark will be based in London and tasked with management of Marsh’s energy clients claims throughout the world. Previously he led the firm’s UK Energy Claims team, and joined Marsh in February, bringing […]



Miller bolsters marine team

by Richard Kilner

Story link: Miller bolsters marine team

Specialist independent insurance and reinsurance broker Miller has announced the appointment of multi-class marine specialist Stuart Fraser. He brings extensive experience to the firm, having worked for Willis and Lockton, and having worked in the sector for a quarter of a century. Fraser brings expertise in numerous classes of marine business, such as port and […]



Amlin appoints Business Development manager

by Richard Kilner

Story link: Amlin appoints Business Development manager

Specialist insurer Amlin has announced the appointment of Patrick McMillen as Business Development & Broker Relationship manager at Amlin UK. In his new post McMillen will be tasked with fostering the insurer’s relationships with brokers in Northern Ireland, Republic of Ireland and Scotland. He most recently worked for a medical diagnostic company, but also brings […]



Equitable Life compensation proposals “unsafe and unsound”

by Gill Montia

Story link: Equitable Life compensation proposals “unsafe and unsound”

Parliamentary Ombudsman, Ann Abraham, has written to MPs with her reactions to the proposals made in the Chadwick report on compensation for Equitable Life victims. The UK’s oldest mutual insurance company came close to collapse in 2000 resulting in over one million savers losing up to 50% of the value of their pension funds. In […]



July 26, 2010

swiftcover.com to provide home insurance

by Richard Kilner

Story link: swiftcover.com to provide home insurance

Online car insurer swiftcover.com is branching out, and from 27th July will be offering a home insurance product it hopes will shake up the market. The insurer offers a quick and clear quote generator, with potential customers provided with quotes only on aspects they wish to be covered, enabling them to escape being charged for […]



Heath Lambert bolsters PFI advisory team

by Richard Kilner

Story link: Heath Lambert bolsters PFI advisory team

Heath Lambert has enhanced its PFI advisory team with the addition of Stephanie Ottey, a specialist in handling major portfolios for infrastructure and facility service suppliers. Ottey leaves behind Aon to join Heath Lambert, having spent six years as part of Aon’s PFI advisory team. She lauded the reputation of Heath Lambert’s project risks team, […]



Bupa secures Protection Review Online User award

by Gill Montia

Story link: Bupa secures Protection Review Online User award

Bupa has been named winner of the 2010 Protection Review Online User Experience award. Earlier this year, the insurer’s Individual Protection unit launched an enhanced online system aimed at providing smoother transactions and helping advisors to better cater for clients’ needs. The new system allows users to make alterations to cover until the policy is […]



Sterling bathes in broker satisfaction

by Gill Montia

Story link: Sterling bathes in broker satisfaction

Sterling Insurance has announced the results of its annual online broker survey, which it says demonstrates satisfaction with both its claims service and recently launched Executive Business product. Executive Business, which includes cover for the departure of lotto winning employees and PR costs for reputational damage, received a “very good” rating in all categories, particularly […]



Legal & General appoint group chief risk officer

by Richard Kilner

Story link: Legal & General appoint group chief risk officer

Legal & General Group Plc has announced the appointment of Andrea Blance as the firm’s new group chief risk officer, subject to FSA approval. She brings a quarter of a century of experience to the newly created position and during her lengthy career has held a range of key divisional finance roles driving up profitability […]



Bridle acquires Southampton Insurance Services

by Gill Montia

Story link: Bridle acquires Southampton Insurance Services

Bridle Insurance has completed the purchase of Southampton Insurance Services, also known as Simple Insurance Solutions and SIS. SIS managing Director, Phil Shephard, and his entire team will now relocate to Bridle’s Southampton Centre, bringing with them thousands of clients including Southampton Football Club plus some of the Club’s players and fans. The firm has […]



Ageas sells Turkish life and pensions business

by Gill Montia

Story link: Ageas sells Turkish life and pensions business

Ageas (previously Fortis) has announced that it has reached an agreement with BNP Paribas Assurance on the sale of its pension and life activities in Turkey. The disposal, for an undisclosed sum, is in line with the group’s strategy of streamlining its current portfolio. Ageas acquired Fortis Emeklilik ve Hayat in 2005, as part of […]



July 23, 2010

Chubb announces Q2 results

by Richard Kilner

Story link: Chubb announces Q2 results

The Chubb Corporation has reported that in the second quarter of the year it made net income of $518m, equating to $1.59 per share. This is down somewhat on the $551m net income the firm made during Q2 2009, although the same quarter saw net income of $1.54 per share. Operating income fell by $73m […]



Beazley reports interim results

by Richard Kilner

Story link: Beazley reports interim results

Beazley plc has reported its interim financial results for the six months ended 30 June 2010, including net profits of $115.5m, almost fourfold the $30.1m made during the corresponding period last year. Gross written premiums increased by 5% to $940.6m, and net writen premiums surged by more than a fifth (21%) to $621.1m. The interim […]



Weddings under-insured by 30%

by Richard Kilner

Story link: Weddings under-insured by 30%

With the wedding season in full flow, compareweddinginsurance.org.uk has revealed that couples under-insure their wedding by 30% on average. From May 2009 to April 2010 the average cost of a wedding was £17,000, but couples only took out cancellation coverage of £12,000. Adam Leyton, founder of compareweddinginsurance.org.uk, has described a wedding as the most expensive […]



CII elects new president

by Richard Kilner

Story link: CII elects new president

The AGM of the Chartered Insurance Institute (CII) has elected Chris Hanks as the organisation’s president, the 114th in its history. Hanks succeeds Barry Smith, chief executive officer of Fortis UK, and is joined by newly elected deputy president Julian James, chief executive officer of Lockton International. Hanks has described his election as a great […]



Insurers expose 2,300 fraudulent claims a week

by Gill Montia

Story link: Insurers expose 2,300 fraudulent claims a week

Insurers are currently exposing over 2,300 fraudulent claims every week, according to new data from the Association of British Insurers (ABI). The figure has risen from a weekly total of 2,000 dishonest claims in 2009, worth over £16 million. Last year, 122,000 fraudulent insurance claims were uncovered, up 14% on a year earlier. By value, […]



Brokers need to be proactive to survive

by Richard Kilner

Story link: Brokers need to be proactive to survive

To survive market uncertainty and the economic downturn brokers need to think outside the box, reassess their business models and seek to capitalise on their strengths, according to Paul Muir, MD of 1 Answer Network. Brokers have been hit hard by the increase in the FSCS levy, adding to the challenges they face in a […]



MIB reveals uninsured driver hotspots

by Gill Montia

Story link: MIB reveals uninsured driver hotspots

The Motor Insurers’ Bureau (MIB) has identified the UK’s uninsured driving hotspots and placed Barkerend in Bradford (BD3) at the top of the list. The West Yorkshire location is followed by West Gorton, Manchester (M12). With half of the worst-offending postcodes in the West Midlands, the Birmingham suburbs of Small Heath (B10), Handsworth (B21) and […]