Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 23rd of January 2018
January 25, 2011

Aviva private motor sales soar in Swinton tie-up

by Gill Montia

Story link: Aviva private motor sales soar in Swinton tie-up

Aviva has reported that the successful roll-out of its personal lines pricing to Swinton’s 570 branches and three call centres has more than doubled sales of its private motor offering, year-on-year. The integration of the firms’ systems has allowed Swinton brokers to offer Aviva’s private motor product at a price that is more in line […]



January 24, 2011

New homeowners urged to change locks

by Richard Kilner

Story link: New homeowners urged to change locks

People who move house are being urged to change the locks, as failure to do so exposes them to increased risk of burglary. The findings comes from new research commissioned by Direct Line and show that 63% of people moving into a new home do not bother to change the locks. More than 70% of […]



Markel appoints open market underwriter

by Richard Kilner

Story link: Markel appoints open market underwriter

Specialist insurer Markel International has announced the appointment of Rupert Cousins to the post of underwriter for open market property, within the specialty division. The appointment follows the firm’s restructuring last year, which saw property business reorganised along sector lines. Cousins started his career in 1988 with Lloyd’s non-marine syndicate 506, and brings more than […]



Home insurers lagging behind on digital cover

by Gill Montia

Story link: Home insurers lagging behind on digital cover

Consumers are at risk of losing hundreds of pounds worth of digital music because their household insurers may not protect downloaded material. According to research from Which?, a third of leading home insurers’ standard policies don’t offer any form of digital cover, despite over 100 million tracks being downloaded by UK music lovers each year. […]



Home insurance fraud on the increase

by Gill Montia

Story link: Home insurance fraud on the increase

New data from Legal & General (L&G) suggest that over two-thirds of insurance industry intermediaries think home insurance fraud is on the increase. In its latest FraudStoppers report, the insurer also reveals that many brokers and advisers feel little is being done to deter fraudsters, with more than half confident that a client could get […]



Brit appoints Property and Combined underwriter

by Richard Kilner

Story link: Brit appoints Property and Combined underwriter

International general insurance and reinsurance group Brit Insurance has announced the appointment of Robin Murray as a Property and Combined underwriter, based in the firm’s Glasgow office. Murray assumes his new post with immediate effect, and is directly responsible to Suzanne Sahadew, head of the Property and Combined Team. He will be tasked with underwriting […]



Ageas addresses CIE with phonic alphabet

by Gill Montia

Story link: Ageas addresses CIE with phonic alphabet

Ageas has produced a free broker kit to coincide with the Government’s crack down on uninsured motor vehicles, with the introduction of Continuous Insurance Enforcement (CIE). The kit is designed to help eradicate vehicle registration errors by providing a desk-side reminder of the phonetic alphabet, assisting brokers and their clients to record correct registration details. […]



Six charged in “crash for cash” case

by Gill Montia

Story link: Six charged in “crash for cash” case

Six people have been charged in connection with an investigation into “crash for cash” insurance fraud in Lancashire, the BBC has reported. Five men and one woman (all from Blackburn) are understood to have been charged with fraud by false representation, following enquiries that date back to early 2010, and are due to appear before […]



JLT’s South African venture aims for market leadership

by Gill Montia

Story link: JLT’s South African venture aims for market leadership

Jardine Lloyd Thompson (JLT) is forming a new South African company. The firm says it wants to increase choice in the domestic market, enhance access to international markets, and sharpen competition in a broking industry undergoing consolidation. Clients will be able to benefit from JLT industry specialisms in areas such as construction, natural resources, marine, […]



January 22, 2011

FSCS decrees £326m levy over investment intermediary failings

by Gill Montia

Story link: FSCS decrees £326m levy over investment intermediary failings

Investment intermediaries and investment fund managers are being warned that they face an interim levy of £326 million before the end of the financial year, to cover the costs of claims against Keydata Investment Services and other firms. The Financial Services Compensation Scheme (FSCS) has announced that the money will be raised from Investment Intermediation […]



January 21, 2011

Direct Line warns against underinsurance

by Richard Kilner

Story link: Direct Line warns against underinsurance

Homeowners may be leaving themselves exposed to underinsurance, according to a new report from Direct Line. The report indicates that as much as £212.9bn in home contents could be at risk, with over a quarter (26%) of people with contents cover underinsured by as much as £20,000. Furthermore, one in five people have no home […]



AXA Wealth International hires Kisby

by Richard Kilner

Story link: AXA Wealth International hires Kisby

AXA Wealth International has announced the appointment of Tony Kisby as the firm’s new international development manager. Kisby’s appointment comes as part of AXA’s strategy of retaining its strong position in the market, and he will be tasked with leadership of the firm’s North England, Scotland and Northern Ireland sales teams. He brings more than […]



Senior management changes at Aviva

by Gill Montia

Story link: Senior management changes at Aviva

Aviva has announced that the group’s chief executive officer, EMEA, Andrea Moneta, will be leaving the company at the end of February to pursue new challenges in the financial services sector. Mr Moneta has been instrumental in establishing Aviva’s European transformation programme, which has so far produced a 10% increase in sales. His departure means […]



BIBA partners Perkins Slade in credit management offering

by Gill Montia

Story link: BIBA partners Perkins Slade in credit management offering

The British Insurance Brokers’ Association (BIBA) has appointed Perkins Slade as a scheme provider for credit management products and services. The new scheme, exclusively for BIBA members, includes special commission arrangements, preferential rates and a wider scope of cover and product offerings. In addition, BIBA members can gain access to advice on credit risks and […]



January 20, 2011

FSA: new rules for investment advisers from July

by Gill Montia

Story link: FSA: new rules for investment advisers from July

The Financial Services Authority (FSA) has confirmed that retail investment advisers will need to hold a Statement of Professional Standing (SPS) if they want to give independent or restricted advice after January 2013. The statement will provide evidence that the adviser subscribes to a code of ethics, is qualified, and has kept their knowledge up […]



Aviva to reduce hybrid debt by £700m

by Gill Montia

Story link: Aviva to reduce hybrid debt by £700m

At a presentation for investors and analysts today, Aviva is announcing plans to reduce its hybrid debt by at least £700 million over the next three years. The event will also highlight the insurer’s management of credit and insurance risk, and its asset/liability management. Group chief executive, Andrew Moss, comments: “I am confident that Aviva […]



RSA puts adverse weather aside to report strong 2010 results

by Gill Montia

Story link: RSA puts adverse weather aside to report strong 2010 results

In a trading update, RSA calculates the cost of the adverse weather in November and December 2010 at around £142 million above normal levels. However, the group expects its full-year 2010 results to show net written premium growth of 11%, a COR of between 96.5% and 97%, and an operating profit in the range of […]



Guy Carpenter forms Iberian facultative team

by Gill Montia

Story link: Guy Carpenter forms Iberian facultative team

Guy Carpenter has announced the formation of a dedicated facultative team in Iberia. The new unit comprises Alejandro Ramirez, senior vice president, Artur Castany, senior vice president, and Antoni Galí, assistant vice president, (all of whom have all joined Guy Carpenter) and Marta Mateos, vice president. Based in Madrid and Barcelona, the team will be […]



January 19, 2011

Beazley enters 5 year deal with British Fencing

by Richard Kilner

Story link: Beazley enters 5 year deal with British Fencing

Specialist Lloyd’s insurer Beazley has formed a five year partnership with British Fencing. Under the terms of the deal, Beazley will become the principal and official sponsor of the national governing body for the Olympic sport until the end of 2015. As a result of the partnership Beazley’s £1m sponsorship will increase the sport’s funding […]



Crossrail makes history with nine year policy

by Richard Kilner

Story link: Crossrail makes history with nine year policy

The first ever nine-year Construction Project Insurance Policy to be placed in the global market has been negotiated by Crossrail, one of the largest infrastructure projects in the world. The project’s span has been accommodated by going without a break clause, and the multi-year policies are jointly led by Swiss Re and Zurich, working in […]