Marsh has announced the appointment of Ken Watterson, a leading Manx business and wildlife expert, to the post of non-executive director on the board of directors on the Isle of Man. In his new role with the firm Watterson will be tasked with providing its insurance broking and risk advisory business on the island with [...]
ARAG is launching two new divorce products to the market, following a successful trial run with solicitors Mishcon de Reya and Prolegal. Pre-nuptial Legal Solutions and Divorce Legal Solutions are aimed at law firms preparing nuptial agreements and provide legal expenses cover from the date of a marriage or civil partnership. Sold alongside nuptial agreements, [...]
Mutual insurance, retirement and investment group LV= has announced the appointment of Steve Haynes to the position of chief risk officer. Haynes takes on his new role at a time of significant regulatory change, and will report directly to Group Chief Executive Officer Mike Rogers. He joined the firm three years ago, and brings more [...]
Retailers and business groups have join forces with the Association of British Insurers (ABI) in the latest bid to combat the UK’s “have a go” compensation culture. Argos, ASDA, Ford, and Whitbread are among the companies adding their weight to a new ABI report highlighting the reasons why the UK’s current system of compensation is [...]
Middle aged Britons are suffering a mid-life health crisis, according to new research from health insurer Bupa. Those aged 45-54 are more likely to smoke, be obese and suffer depression compared to others of their age around the world. The international Bupa Health Pulse study found that late middle age was the toughest time for [...]
The Association of British Insurers (ABI) has been joined by a number of major retailers, including Argos, ASDA, Ford, and Whitbread PLC, Lloyd’s, business organisations, in calling for an end to the ‘have a go’ compensation culture. The call comes as the ABI publishes a report indicating that genuine claimants are often been failed by [...]
With household incomes under pressure, the near-term outlook for UK life insurance premiums is “difficult”, according to a new report from Ernst & Young’s ITEM Club. The market remained flat during 2010 and the economic forecaster expects life premiums to grow by just 0.5% in 2011 and by 1.7% in 2012, commenting: “High insurance penetration [...]
Insurers and retailers should now be doing more to help consumers grasp the finer points of extended warranties, Guaranteed Asset Protection (GAP) insurance and service contracts. New voluntary guidance from the Association of British Insurers (ABI) came into effect at the beginning of September, setting out good practice rules that should help customers choose the [...]
The second AXA Big Money Index has found that in the second quarter consumers are taking a more relaxed approach towards borrowing and debt. AXA has described the findings as worrying, citing the increasing willingness of people to borrow and incur debts to enjoy a lifestyle their earnings cannot support. Meanwhile efforts to save or [...]
LV= has announced the launch of a new multi-channel life insurance advertising campaign, featuring adverts in the form of television, door drops and posters. The campaign, which will run throughout September, aims to enhance the public profile of LV= as a life insurance provider. The 10 second TV advert will be aired jointly in ad [...]
Lark Group is acquiring the Surrey-based Cadogan Hanover Park business from Barbon Insurance. On completion of the transaction, Lark, which provides insurance broking services to a cross-section of corporate and personal clients, will see its annual revenues rise to around £23 million and employ around 280 staff across six offices in London and the South [...]
Allianz Engineering has announced that it is bolstering its underwriting team with the promotion of Nigel Williams. Williams will now serve the firm as regional underwriter for the Midlands area, having previously held the position of business developer for Essex and Hertfordshire. In his new role with Allianz Williams will be tasked with the training [...]
Motorists in Northern Ireland are hopeful of a better deal, following the launch of a campaign by the region’s Consumer Council to reduce the cost of car insurance. Premiums across the Province have shot up by almost 73% in the last two years, with younger drivers worst hit and typically paying more than double the [...]
Shops could be left empty of basic essentials such as bread and milk should truck drivers fail to comply with new EU regulations. The stark warning comes from Andy Keane, UK Motor Portfolio Manager at business insurer Brit Insurance, who added that the implications for the haulage industry and the UK economy would be significant [...]
New research from Swiss Re has revealed that the continual rise of life expectancy has consistently been underestimated. Whilst greater longevity is good news it also means that a pensions shortfall has developed, a problem worsened by the fact that forecasting rises in life expectancy is more difficult than in the past. Daniel Ryan, Swiss [...]
Marsh has announced that it has reached an agreement whereby it will acquire the brokerage business of Alexander Forbes (AF), subject to regulatory approvals. The business includes Alexander Forbes Risk Services (AFRS), in addition to a number of local operations throughout sub-Saharan Africa in countries such as Botswana and Namibia. The deal is expected to [...]
Firms that have been burying the extent of their strategic and operational risks deep in company reports, or have missed them out altogether, have come to the attention of the Financial Reporting Council (FRC). The Council, which promotes investment by ensuring high-quality corporate governance and reporting, wants strategic risk to take its proper place in [...]
