Markerstudy has acquired Blagrove Insurance Brokers of Carterton in Oxfordshire. The fleet insurance specialist with GWP of £4 million was established in 2004, and for Markerstudy, the acquisition endorses its strategy of developing a commercial portfolio. The insurer’s group chief executive, Kevin Spencer, comments: “We believe that the broker market offers tremendous opportunity and we [...]
Admiral has announced that planning permission has been granted for a new headquarters building for its motor insurance business, in Cardiff. The insurer currently employs 2,000 people in the city and the new building will allow for staff numbers to rise to 3,000, all on the one site. The group’s chief executive officer, Henry Engelhardt, [...]
Aspen US Insurance has announced the appointment of Executive Vice President Ken Cornell to lead Aspen Specialty’s Environmental Liability team. In his new role with the firm Cornell will be based in New York, and will report directly to Mario P. Vitale, the president of Aspen US Insurance. He brings over a quarter of a [...]
Only a third of intermediaries are “somewhat clear” on exactly what constitutes insurance fraud, according to new research from Legal & General. In addition, the insurer’s FraudStoppers report suggests that over a half of intermediaries think people can get away with an inflated claim, while a quarter believe that house insurance claims are exaggerated by [...]
LV= is expanding its claims division and creating 50 new jobs at its Ipswich office, the BBC has reported. According to the broadcaster, the majority of the roles will be in handling car insurance claims involving personal injuries. The insurer has also appointed Philip Brown as head of retirement propositions. Mr Brown joins from Partnership, [...]
New research from RAC Home Insurance, part of the Aviva group, suggests that almost a quarter of homeowners automatically renew their home insurance with their existing provider, rather than shopping around to find a better deal. Some homeowners could therefore be paying 224% over the odds for cover, based on the difference between the lowest [...]
For the first time in its 10-year history, Aon’s annual Terrorism Threat Map takes into account political violence, strikes and war. The 2011 edition, renamed the Aon Terrorism and Political Violence Map, shows increased risk of political violence in the Middle East and North Africa, reflecting the Arab Spring uprisings, and takes into account civil [...]
Laurent Hoquet has been appointed by ACE to serve as the firm’s new energy manager for Continental Europe and Central and Eastern Europe. He will be directly responsible to Gilbert Flepp and Matthew Hardy, Energy and Technical Lines Manager for ACE in Continental Europe and Global Head of Onshore Energy Underwriting respectively. Hoquet joins ACE [...]
With the summer holiday season approaching, Defaqto is alerting parents to the fact that only 50% of all annual trip travel insurance policies cover children named under the policy, if they travel independently of their parents. According to the financial research company, a child may be named as an insured person but may need to [...]
XL Insurance has announced that Chief Executive International Property and Casualty Insurance Eileen McCusker is to retire from the company. McCusker, whose retirement is effective from the end of the year, joined the firm in 1989 and has held numerous positions within it. She has served in her present role since March of last year [...]
Specialist church insurer Ecclesiastical has commissioned new research which reveals that churches in Gloucestershire, Wiltshire and Bristol are at particular risk of having not only the metals but the stone tiles stolen from their roofs. Half of all claims for stolen stone tiles came from churches in the region, where traditional Cotswold tiles cost £2,000 [...]
Travelers has appointed Kendra Felisky to the newly-created position of chief risk officer, Europe, covering both Travelers Syndicate Management and Travelers Insurance Company. Ms Felisky will be responsible for enterprise risk management in Europe, including the development, implementation and monitoring of risk management strategies and policies. Additionally, she will assume the reporting line of Travelers’ [...]
Garratts is warning that professional indemnity (PI) insurance is now more important than ever because clients have never been more likely to take legal action if things go wrong. Professional negligence claims traditionally increase during a downturn and according to the broker, a marked increase in the number of firms being sued can mean a [...]
A new report from RSA and environmental organisation, WWF, sets out the case for a renewable energy strategy that will meet 100% of the world’s energy needs by 2050. Acknowledging the challenges of broader adoption of renewable energy, the insurer and its partner are demanding: greater access to project capital; government incentives and lasting financial [...]
The Dragon Boat Tournament at Thorpe Meadows rowing lake was attended by over 1,000 BGL group staff and their families, with a total of 15 teams from the firm participating. The teams raced three 40ft dragon boats and the event raised £45,000 for Marie Curie Cancer Care, BGL’s corporate charity partner, exceeding the initial target [...]
A rise in demand for financial products for the risk adverse has led the Financial Services Authority (FSA) to review the market and draw up new rules on product descriptions. The regulator’s latest quarterly consultation paper proposes that firms using terms such as “guaranteed”, “protected” or “secure” should include in their promotional material explanations of [...]
XL Insurance has announced the launch of XL Eclipse, a new comprehensive cyber-risks solution designed for European businesses. XL Eclipse includes extensive cyber liability coverage, providing protection against civil regulatory fines and offers coverage against penalties and first party cover for IT forensics, Business Interruption, Extortion Threat and credit monitoring. The product even offers to [...]
QuestGates has bolstered its corporate claims management and liability investigation capabilities, with three new appointments. Chris Harding rejoins the loss adjuster’s corporate claims management division in Birmingham as a senior claims handler, moving from Pickering and Butters, solicitors. Mr Harding has nearly 10 years’ experience of claims handling, having previously worked for both QuestGates and [...]
Friends Life has appointed Steve Payne as managing director of its protection business. The newly enlarged Friends Life, formed from the merger of Friends Provident, Bupa Health Assurance (BHA) and business acquired from AXA UK, has also confirmed plans to consolidate its individual protection propositions onto a single platform for the IFA market. Mr Payne [...]
Insurance broker and risk adviser Marsh has won the Outstanding Broker Team of the Year at the Insurance Times Claims Excellence Awards. The award ceremony, which was held in London, also saw UK Claims Leader Barry Jones recognised as Outstanding Broker Individual of the Year. Jones described the night as a superb result for the [...]
