Daily Insurance Industry News
 
 
Daily Insurance Industry News
Saturday 20th of January 2018
October 25, 2011

London’s uninsured vehicles seized

by Gill Montia

Story link: London’s uninsured vehicles seized

Following a major operation last week targeting London’s uninsured drivers, the Motor Insurers’ Bureau (MIB) says it has taken the highest number of calls to its dedicated police helpline since the line was set up in 2007. The calls contributed to 558 vehicle seizures and 76 arrests across the capital in one day. Metropolitan Police […]



Fraudscreen announces two senior hires

by Richard Kilner

Story link: Fraudscreen announces two senior hires

Fraudscreen, the first party fraud prevention company, has announced the appointment of new directors Matthew Elsom and Caroline Worboys. Elsom, the new chief executive officer, will collaborate closely with founder James Middlehurst, and brings more than two decades of experience in the data and credit industry to his new post. Elsom began his career working […]



British homes no longer shrinking

by Richard Kilner

Story link: British homes no longer shrinking

The trend for new British homes to be built with ever smaller floor areas has stopped, according to new figures from The Building Cost Information Service (BCIS). From 1900 to 2000 new homes saw a decline of 16% in terms of floor area, but this long term trend has halted across the full spectrum of […]



Parabis announces reinsurance hires

by Richard Kilner

Story link: Parabis announces reinsurance hires

Insurance services group Parabis has announced a number of new reinsurance appointments to bolster its offering. Under the name Argent Audit & Legacy the firm has appointed industry veteran John Halls to spearhead the development of business in this new area for the firm. Halls brings in excess of three decades of experience to his […]



Cornish Mutual reveals scale of winter claims

by Richard Kilner

Story link: Cornish Mutual reveals scale of winter claims

South West rural insurance firm Cornish Mutual has released new figures confirming that the terrible winter the country suffered last year was one of the costliest on record. The Truro-based company received almost 300 claims from the start of November 2010 to the end of March 2011 which cost the firm over £700,000, with an […]



Uinsure adds Bluedrop Services to its panel

by Richard Kilner

Story link: Uinsure adds Bluedrop Services to its panel

Uinsure has announced that Bluedrop Services has been added to its panel, following a successful trial period. Bluedrop Services will now take its place as the specialist referral partner for commercial and non-standard insurance products. All regulatory boxes will be ticked by Bluedrop Services’ specialist agents, including compliance, quotations and product submissions (due to the […]



October 24, 2011

Willis appoints WUKI chief executive

by Richard Kilner

Story link: Willis appoints WUKI chief executive

Global insurance broker Willis Group Holdings plc has announced the appointment of Daniel Wilkinson as chief executive officer of Willis United Kingdom & Ireland (WUKI), succeeding interim CEO Grahame Millwater. In addition to Wilkinson’s appointment, which is made with immediate effect, the firm has announced that Brendan McCafferty is the new president of WUKI. Wilkinson […]



Kiln’s Hitchcox wins Outstanding Contribution Award

by Richard Kilner

Story link: Kiln’s Hitchcox wins Outstanding Contribution Award

International specialist insurance and reinsurance underwriting group Kiln has announced that Chief Actuary & Risk Officer Andrew Hitchcox has won an Outstanding Contribution Award relating to his work in general insurance research. The award was given following a secret ballot at the Institute and Faculty of Actuaries’ 38th General Insurance Research Organisation (GIRO) conference in […]



LV= Broker appoints Exeter branch manager

by Richard Kilner

Story link: LV= Broker appoints Exeter branch manager

LV= Broker has announced the appointment of Kevin Wildman as the new branch manager of its office in Exeter. Wildman brings extensive experience to his new position, having worked in the commercial insurance sector for more than three decades. Prior to his appointment he worked for Travelers as broker development manager, and earlier in his […]



Friends Life launches Protect+

by Gill Montia

Story link: Friends Life launches Protect+

Friends Life has today launched Protect+, an individual protection package aimed at the IFA market. The group says it has forged together the best of what was once provided by Friends Provident and its UK life acquisition from AXA, with the new offering spanning income protection, critical illness, life and business protection. In addition, IFAs […]



“Simple” financial products get steering group

by Gill Montia

Story link: “Simple” financial products get steering group

The Government’s vision of a range of “simple” financial products that can be easily understood by consumers has taken a step forward, with the formation of a new steering group. According to research undertaken for the Financial Services Authority, 52% of people find it “too complicated” to compare one product against another and 46% “don’t […]



October 23, 2011

Towergate Insurance appoints HR director

by Gill Montia

Story link: Towergate Insurance appoints HR director

Towergate Insurance has appointed Lucinda Charles-Jones as group human resources director, with effect from 24th October. Moving from AXA UK and Ireland where she served as interim group HR director, Ms Charles-Jones previously held HR directorships at Barclays, RAC and Lex Vehicle Leasing. More recently she spent three years as group HR director at recruitment […]



Guy Carpenter appoints M&A advisory MD

by Gill Montia

Story link: Guy Carpenter appoints M&A advisory MD

Guy Carpenter has appointed Des Potter as managing director M&A advisory Europe, the Middle East and Africa (EMEA), at its GC Securities unit. Based in London, Mr Potter will report to Bill Kennedy, the group’s chief executive office, global analytics and advisory. In the newly-created position, he will work with Guy Carpenter’s EMEA broker network […]



Competition inquiry for audit market

by Gill Montia

Story link: Competition inquiry for audit market

The UK’s “big four” auditors face an inquiry, following a decision by the Office of Fair Trading (OFT) to refer the UK’s market for statutory audit services to the Competition Commission (CC). The watchdog says it has been concerned for some time that the market is highly concentrated, with low levels of switching and barriers […]



October 21, 2011

Hiscox offers vintage advice

by Richard Kilner

Story link: Hiscox offers vintage advice

Specialist home and contents insurer Hiscox has commissioned research which has revealed that 57% of people are unaware of the value of their vintage valuables. In addition to fine wine, vintage goods of possibly high worth include books, musical memorabilia and furniture. Andrew Cheney, senior risk and valuation advisor at Hiscox, explained that the ‘vintage’ […]



Rural Insurance reports new business growth

by Richard Kilner

Story link: Rural Insurance reports new business growth

Harrogate-based specialist agricultural insurance Rural Insurance has announced that in Q3 the firm achieved an 89% increase (year-on-year) in new business growth. Managing Director Simon Stevens said that the firm had already made £2m of new business in the last six months, and stated that the next three months looked incredibly good for the firm. […]



Chubb Q3 profits hit by catastrophe losses

by Richard Kilner

Story link: Chubb Q3 profits hit by catastrophe losses

The Chubb Corporation has reported that in the third quarter it made net income of $298m, just over half the $572m it made in the corresponding period last year and significantly less than the $419m.of Q2 2011. Similarly, net income per share fell, year-on-year, from $1.80 to $1.04. Quarterly operating income more than halved, declining […]



LV= seeks new employees in Brentwood

by Richard Kilner

Story link: LV= seeks new employees in Brentwood

LV= has announced that it is embarking upon a recruitment drive as part of the expansion of its operations in Brentwood. The LV= staff in Brentwood handle a broad range of general insurance business such as IT, underwriting, marketing and claims. Presently, more than 200 people are employed there, and the expanding insurer is seeking […]



Code of practice for incentivised DB transfers

by Gill Montia

Story link: Code of practice for incentivised DB transfers

Pensions minister, Steve Webb, is proposing to introduce a code of practice for employers offering cash to encourage staff to move from defined benefit (DB) to defined contribution (DC) pension arrangements. The minister is concerned that easing the transition from a DB to a DC scheme with a top up to the pension pot can […]



October 20, 2011

Aspen and Brownstone form partnership

by Richard Kilner

Story link: Aspen and Brownstone form partnership

Aspen US Insurance has announced that Aspen and Brownstone Insurance Agency have formed a partnership to serve the commercial residential property market with their combined underwriting and claims expertise. The new partnership means that Brownstone Insurance Agency can increase the depth of its coverage and service and affords opportunity for growth and innovation. John Simone, […]