Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 13th of December 2017
December 15, 2012

LV= appoints group company secretary

by Gill Montia

Story link: LV= appoints group company secretary

LV= has appointed Rachel Small as group company secretary, effective 1st January 2013. Ms Small joined the mutual in September 2007 and is currently group general counsel. She will continue in this role, while taking on the additional responsibility of advising the LV= board of directors to ensure high standards of corporate governance across the […]



December 11, 2012

LV= and Swiss Re complete £800m longevity insurance

by Gill Montia

Story link: LV= and Swiss Re complete £800m longevity insurance

LV= has completed an £800 million longevity insurance contract with reinsurer, Swiss Re. The agreement covers over 5,000 individuals who were members of the LV= Employee Pension Scheme as of 31st December 2011. It also encompasses a broader population than previous pension market longevity transactions because it covers 1,000 members not yet retired, down to […]



December 7, 2012

Drivers confused about drink drive limits

by Richard Kilner

Story link: Drivers confused about drink drive limits

LV= car insurance has commissioned research which reveals that the number of drivers who have driven whilst under the influence of alcohol has almost doubled since 2009. The vast majority (88%) realise drink driving affects their driving ability, but 15% nevertheless admit to having driven whilst over the legal limit. The rise in drink driving […]



November 28, 2012

Women likelier to work beyond retirement age

by Richard Kilner

Story link: Women likelier to work beyond retirement age

The annual Working Late Index from retirement specialist LV= has reported that the number of over 50s expecting to work beyond the state retirement age has risen from 4.5m in 2010 to 6.5m. On average, those expecting to work past the retirement age think they will do so for 6.2 years. There is a significant […]



November 23, 2012

One in three use mobile phones whilst driving

by Richard Kilner

Story link: One in three use mobile phones whilst driving

Every year an average of 100,000 motorists are fined for using a mobile phone whilst driving, according to a Freedom of Information request by insurer LV=. However, this indicates that just a fraction of mobile phone use is detected as 33% of motorists admit to using their phone whilst driving. More than three-quarters (77%) of […]



November 19, 2012

LV= launches with Insure4Retirement

by Gill Montia

Story link: LV= launches with Insure4Retirement

LV= Broker has launched its ABC home insurance product on Insure4Retirement. This is the first collaboration between the companies and the first launch of ABC home insurance with a specialist over-50’s provider. The insurer says the move is a key step in helping to increase the availability of the policy through the broker channel. LV= […]



November 9, 2012

Mobile phone theft up 25% in three years

by Gill Montia

Story link: Mobile phone theft up 25% in three years

Mobile phone theft has increased 25% in the past three years, with an average 264 mobile phone robberies currently reported to the Police each day. According to official data obtained by LV=, over half of mobile phone thieves are in their teens but some are as young as nine years old, and only 1% of […]



November 6, 2012

Almost two million mistakenly drive without insurance

by Gill Montia

Story link: Almost two million mistakenly drive without insurance

New research from LV= claims that 2.2 million motorists have driven without insurance with the majority (1.8 million) mistakenly believing they were insured at the time, having assumed that the insurance on the vehicle they were borrowing, or the insurance on their own car, automatically extended to other drivers and / or vehicles. Official figures […]



November 2, 2012

LV= enhances IP cover for doctors and surgeons

by Gill Montia

Story link: LV= enhances IP cover for doctors and surgeons

LV= has enhanced the benefits for surgeons and doctors with its income protection (IP) insurance. Changes include an NHS sick pay guarantee, an increased benefit guarantee of £3,000, sabbatical cover and enhanced guaranteed insurability options. With regard to sabbaticals, doctors and surgeons can now keep full IP cover in place if they take a sabbatical […]



October 29, 2012

RSA and LV= sign motor claims agreement

by Gill Montia

Story link: RSA and LV= sign motor claims agreement

RSA and LV= have signed a bilateral agreement aimed at speeding up and streamlining motor claims processes and cutting unnecessary costs. Commenting on the deal, LV= technical claims director Martin Milliner says: “This is a great step forward to ensure fairness all round.” RSA says it remains open to talks with other insurers on the […]



October 17, 2012

LV= offers 5% discount on income protection

by Gill Montia

Story link: LV= offers 5% discount on income protection

LV= is offering a 5% discount on all income protection applications until 30th November 2012. The discount, which will be included automatically in new quotations, comes ahead of the implementation of the EU gender directive, which will see the insurer switch protection to gender neutral rates on 1st December 2012. All applications in the pipeline […]



October 16, 2012

LV= bolsters retirement solutions business

by Richard Kilner

Story link: LV= bolsters retirement solutions business

LV= has announced the appointment of Stuart Wilson to the post of head of marketing for its retirement solutions business. Wilson joins the firm from Prime Time, where he worked as marketing director and supervised the launch of its fixed term annuity proposition. At LV= Wilson will be tasked with enhancing the profile of the […]



October 15, 2012

LV= streamlines corporate legal panel

by Gill Montia

Story link: LV= streamlines corporate legal panel

LV= has reviewed its corporate legal panel, which looks after the group’s business affairs. The panel now comprises four legal firms (which will work hand-in-hand with LV=’s in-house legal team) as follows: Eversheds, Bond Pearce, Clifford Chance and Norton Rose. Eversheds was on the panel previously and oversees a range of commercial and corporate work […]



October 12, 2012

LV= clarifies role of fixed-term annuities

by Gill Montia

Story link: LV= clarifies role of fixed-term annuities

LV= has published a “Fact and Fiction” report for advisers, highlighting various personal circumstances and market changes that make fixed-term annuities a good choice for clients. For example, a modest increase in gilt yields could make a fixed-term annuity a worthwhile strategy for many more retirees. In fact, the report shows that if gilt yields […]



October 3, 2012

LV= announces future chairman

by Richard Kilner

Story link: LV= announces future chairman

LV= has announced that it has appointed Mark Austen to be the firm’s new chairman for an initial three year period following the AGM on 23 May 2013. Dennis Holt has served as LV=’s chairman for two terms (totalling six years) and will step down at the same time. Austen has been with the firm […]



September 21, 2012

LV= outlines protection gender plans

by Gill Montia

Story link: LV= outlines protection gender plans

LV= will switch its protection business to gender neutral rates on 1st December and is offering advisers a “G Day Guarantee” ahead of the gender directive, which comes into force on 21st December 2012. The mutual reckons switching rates ahead of time offers certainty for advisers by allowing applications in the pipeline by 1st December […]



September 6, 2012

LV= partners RAC with protection products

by Gill Montia

Story link: LV= partners RAC with protection products

LV= has signed a five-year partnership agreement with motoring service provider, RAC. Through LV=, RAC will offer its customers a telephone-based advice service on protection products (income protection, critical illness and life cover) and issues such as inheritance tax planning. Customers will also be able to purchase term life and 50 Plus products via the […]



August 31, 2012

LV=’s Britannia Rescue named top provider

by Gill Montia

Story link: LV=’s Britannia Rescue named top provider

LV=’s Britannia Rescue arm has been named the top recommended provider for breakdown cover by Which? The consumer group rated providers on a number of factors including waiting times, quality of roadside repairs and customer satisfaction. In all, 5,772 people who had called out a breakdown provider in the last year were surveyed and two […]



August 15, 2012

LV= launches personalised careers website

by Gill Montia

Story link: LV= launches personalised careers website

LV= has developed a new careers website based on a user’s location. The content of the site is determined by the LV= office closest to a job seeker’s location and includes film footage and specific articles, in addition to providing a unique list of available jobs. The technology works by identifying the user’s whereabouts via […]



August 13, 2012

LV= announces tennis sponsorship

by Gill Montia

Story link: LV= announces tennis sponsorship

LV= has announced that it is now an associate sponsor of Statoil Masters Tennis, the prestigious legends event which takes place at the Royal Albert Hall in December. The event brings together many of the greatest tennis players of all time to compete in a special setting – John McEnroe, Goran Ivanisevic, Pat Cash and […]