ABI advice to flash-flood victims
by Gill Montia
Story link: ABI advice to flash-flood victims
Last week’s flash flooding in the West County has prompted the Association of British Insurers to issue advice to the property owners affected.
Those who have household and/or business insurance policies should be covered for flood damage and need to contact their insurer as soon as possible.
Twenty-four hour emergency helplines are provided by most insurers, […]
Heath Lambert joins forces with Citation to improve SME offering
by Gill Montia
Story link: Heath Lambert joins forces with Citation to improve SME offering
Heath Lambert Group, the independent insurance broker and employee benefits consultant, has formed a joint venture with Citation plc.
The move will support the broker’s increased focus on affinity related business and at the same time expand its offering to SME (small and medium-sized enterprise) clients.
Under the agreement, Heath Lambert’s clients will be able to use […]
Lack of insurance in small business
by Richard Kilner
Story link: Lack of insurance in small business
New research commissioned by Insurantz.com has revealed that 29% of small businesses are eschewing business insurance.
The unexpected finding means that almost three in ten firms are exposing their customers, staff and business to unnecessary risk.
The UK has approximately 4.45m owners of small businesses, and as many as 156,000 of them could be risking their own […]
Lloyd’s warns of liability crisis for business
by Gill Montia
Story link: Lloyd’s warns of liability crisis for business
Lloyd’s of London has published a report highlighting the dangers of a liability crisis, should businesses fail to get to grips with litigation issues.
The report accompanies the launch of the third series of Lloyd’s 360 Risk project, which provides a forum for debate about key risk issues and their management.
The paper entitled “Directors in the […]
Direct Line launches hotelier policy
by Gill Montia
Story link: Direct Line launches hotelier policy
Direct Line has expanded its Direct Line for Business brand with the launch of a policy aimed at owners of small hotels, guesthouses and bed & breakfast establishments.
Applicants will need to be operating from one property and providing accommodation in a maximum of 12 rooms.
Cover includes public and products liability of up to £2 million […]
Novae launches corporate manslaughter policy
by Gill Montia
Story link: Novae launches corporate manslaughter policy
Novae Insurance is launching a directors’ and officers’ (D&O) liability policy in response to the Corporate Manslaughter and Corporate Homicide Act 2007, which came into force last month.
The change in the law means that companies, rather than solely individuals, can face a charge of manslaughter if an employee dies as a result of failures in […]
CMG launches Gibraltar-based claims management business
by Gill Montia
Story link: CMG launches Gibraltar-based claims management business
CMG has launched a Gibraltar-based niche business, with a UK office in Belfast.
The claims management and consultancy firm aims to service protected cell companies, open market insurers and insurance managers across the EU and EEA. It will also manage claims for the captive insurance sector, worldwide.
The group will provide claims processing and handling; run off claims […]
Erinaceous placed in administration
by Gill Montia
Story link: Erinaceous placed in administration
Erinaceous, the property services company, has been placed in administration.
It is understood that KPMG has been appointed administrators and that creditors are likely to take control of some the group’s businesses, including insurance subsidiary EIS, which provides cover for commercial property and controls around £250 million in gross written premiums.
In January, the group put EIS […]
Endsleigh launches SME range
by Gill Montia
Story link: Endsleigh launches SME range
Endsleigh, the independent insurance intermediary, has launched a range of products for small and medium sized enterprises (SMEs).
Available online via the group’s Business Insurance Services division, cover can be provided for a wide range of risks across the SME market.
The new service is particularly aimed at independent retailers, trades people, surgeries, offices, teachers, manufacturers, restaurants […]
Health Lambert launches Driving Risk Manager
by Gill Montia
Story link: Health Lambert launches Driving Risk Manager
Heath Lambert Group, the independent insurance broker, has formed a joint venture with health and safety specialist, Matrix Global Services, to provide an online resource for managing work road risk.
Using the facility, companies can download driver records, driver questionnaires, risk reduction action plans, and policy and process documentation.
Once data input is complete, the system can […]
Scotland to extend time limit on personal injury claims
by Gill Montia
Story link: Scotland to extend time limit on personal injury claims
Commercial law firm, DWF, is opposing proposals by the Scottish Law Commission (SLC) to extend the time limit on personal injury claims from three to five years.
The reforms are intended to help those bringing claims for occupational diseases including asbestosis and mesothelioma, but DWF insurance partner, Simon Denyer, finds the SLC proposals surprising because “they […]
London businesses ill-prepared for terrorist attack
by Gill Montia
Story link: London businesses ill-prepared for terrorist attack
Marsh, the insurance brokerage and risk management consultancy, has warned that many London businesses could be under-prepared for a terrorist attack.
In a recent survey the firm questioned delegates from medium-sized to large companies located in the Greater London Area, who were attending a conference on the threat of terrorism.
One-third of those surveyed did not have […]
Arc launches standalone EPI policy
by Gill Montia
Story link: Arc launches standalone EPI policy
Arc Legal Assistance, the specialist provider of legal costs insurance, has launched its first standalone employment protection insurance (EPI) product.
The new policy is aimed at small and medium-sized enterprise (SME) employers and is in response to a raft of new legislation designed to protect employees.
HR Insight will be the first client to sell the product, […]
Willis launches CyPro to cover data loss
by Gill Montia
Story link: Willis launches CyPro to cover data loss
Willis has launched a new range of products that cover business interruption and recovery costs caused by malicious and accidental loss of data.
CyPro is designed to protect businesses against having to absorb the cost of data recovery and disruption and has been specifically developed to help clients reduce their exposure to risks associated with technology […]
FGIC joins other bonds insurers in credit downgrade
by Gill Montia
Story link: FGIC joins other bonds insurers in credit downgrade
Financial Guaranty Insurance Company (FGIC), the world’s third-largest bond insurer, has had its credit rating downgraded.
Moody’s has downgraded FGIC Corporation, including Financial Guaranty Insurance Company and FGIC UK Limited to A3, from Aaa.
As with its competitors, Ambac, MBIA and MBAC, the insurer is facing a rise in claims resulting from the US sub-prime mortgage crisis.
FGIC […]
Ship and cargo premiums set to fall
by Gill Montia
Story link: Ship and cargo premiums set to fall
The marine sector can expect ship and cargo premiums to fall by up to 10% during 2008, despite the fact that overall, risks in the sector are increasing.
According to Aon’s 2008 Marine Insurance Market Review, ship and cargo owners are paying less in premiums because claims have decreased as a result of advances in ship […]
Protean launches hedge fund insurance
by Gill Montia
Story link: Protean launches hedge fund insurance
A new company, Protean Investment Risks (PIR), is launching its first insurance product, which is aimed at those investing in hedge funds.
The product, which Protean claims is the first of its kind in the world, will protect investors from losses that are a direct consequence of fraudulent actions by a fund manager or any […]
CBG Announces Acquisition of Barclay Brown
by Stewart Douglas
Story link: CBG Announces Acquisition of Barclay Brown
Manchester based insurance broker CBG has today announced that it has successfully completed the acquisition of niche broker Barclay Brown, in a move that will see the broker consolidate its regional holdings in the North West insurance market.
The completion of the deal was announced to the Stock Exchange today, which includes a two-tier payment plan […]
APC Launches Property Owners Policy Through QuoteMac Platform
by Stewart Douglas
Story link: APC Launches Property Owners Policy Through QuoteMac Platform
APC, the commercial underwriting firm, has today announced that it plans to kick-off the new year with the launch of its proprietary property owners policy through its affiliated remote trading partner platform QuoteMac, in a move designed to launch its updated product range for the next twelve months.
The commercial property owners scheme includes a cross-section […]
Groupama upgrades PMI to include travel insurance
by Gill Montia
Story link: Groupama upgrades PMI to include travel insurance
Groupama Healthcare has made some improvements to Santé, its private medical insurance product.
Santé was launched in 2006 and is aimed at the corporate SME sector. Its comprehensive cover provides a full refund on eligible inpatient treatment as well as various levels of outpatient cover.
The product has now been extended to include the option of annual […]
