Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 26th of September 2018
January 31, 2008

Car insurers take on board green issues

by Richard Kilner

Story link: Car insurers take on board green issues

Research has been conducted by uSwitch.com, which reveals that the number of green cars purchased last year rose by 70%, up from 10,000 to 17,000. However, the green cars still only account for less than 1% of all Britain’s cars despite the fact that owning one could save the average motorist up to £300 per […]



NMB names new energy director

by Richard Kilner

Story link: NMB names new energy director

Newman Martin and Buchan has named Carolyn Bishop as the new energy division director. Bishop leaves behind JLT, and brings with her over two decades of experience in offshore energy broking. NMB’s energy division MD, Andrew Draycott, has praised Bishop’s knowledge of the sector, adding that he was sure she would prove to be an […]



New MD for Alec Finch

by Richard Kilner

Story link: New MD for Alec Finch

Paula Williams has been named by Alec Finch as the firm’s new managing director. Williams will take up her post on 1 February. She joined the firm in the latter half of 2007, leaving behind Jardine Lloyd Thompson where she had held the post of regional managing director for six years. Alec Finch, the chairman […]



Standard Life Reports Slowdown

by Stewart Douglas

Story link: Standard Life Reports Slowdown

Insurer Standard Life has today announced a slowdown in top line revenues over the last quarter of 2007, despite the fact that the group reported an increase of 15% in its domestic pensions and life businesses over the course of last year, in light of difficult market conditions and growing competition. Over the last quarter, […]



January 30, 2008

Insurers face longer claims period after Lords’ ruling

by Richard Kilner

Story link: Insurers face longer claims period after Lords’ ruling

The House of Lords made a judgement today which effectively increases the time period during which a victim of abuse can seek financial compensation from their attacker. The abuser’s employer may also be affected by the ruling, in areas such as education or social care. Prior to the judgement a victim had to bring a […]



Smith promoted by Carvill

by Richard Kilner

Story link: Smith promoted by Carvill

Dr Steve Smith has been promoted to president of Property Solutions for ReAdvisor by Carvill. There he will lead a team focusing on Carvill’s Hurricane Index, listed on the Chicago Mercantile Index last year. Dr Smith has expressed his delight at his new position and promotion. ReAdvisory’s head, Bill Adamson, said that Dr Smith’s promotion […]



Heath Lambert bolsters Manchester presence

by Richard Kilner

Story link: Heath Lambert bolsters Manchester presence

Heath Lambert has appointed Tom Hayes as head of office for its Manchester branch, effective from 1 February. His soon-to-be predecessor David Rudman will thus be able to focus his energies on retaining and expanding major client relationships. Other appointments include Mark Mansfield, who leaves behind Marsh to take up a post as business development […]



CCV poach multiple Erinaceous staff

by Richard Kilner

Story link: CCV poach multiple Erinaceous staff

Cullum Capital Ventures has announced five new appointments from the Erinaceous Homelet sales team. Sales positions have been taken up by Dave Wilson, John Chandler, Mitch Thomson, Tony Preece and Rob Battersea, who will work in MARAS, part of Cullum Capital Ventures. Erinaceous Letsure’s former head of trading, Ian Sharpe, will join them. The new […]



New CEO for MMC

by Richard Kilner

Story link: New CEO for MMC

Brian Duperreault has been named by Marsh & McLennan Companies as the firm’s new president and chief executive officer. Duperreault brings extensive experience to his new position, having served as ACE’s chief executive for a decade and chairman of the board. The market capitalisation grew eighteenfold under his leadership, soaring from $1.1bn to $19bn today. […]



Sheilas’ Wheels launches household product

by Gill Montia

Story link: Sheilas’ Wheels launches household product

Sheilas’ Wheels, the motor insurance brand that forms part of the esure group, is entering the household insurance market at the beginning of February. The standard home cover product will include features that have been designed to appeal strongly to women, such as free online access to the CreditExpert identity fraud service provided by Experian […]



Standard Life improves mortgage endowment payouts

by Gill Montia

Story link: Standard Life improves mortgage endowment payouts

Standard Life has reported that at least 45% of its 63,000 mortgage endowment policyholders, whose policies mature during 2008, will not be facing a shortfall. In fact, the percentage could be higher because the company’s current projections do not take account of top-up payments under its “mortgage endowment promise”. The figure is a huge improvement […]



MRG 2008 Goals Unveiled

by Stewart Douglas

Story link: MRG 2008 Goals Unveiled

The Market Reform Group has today announced that the London insurance market is well on its way to achieving its 2007 objectives, on the day it launched its targets for development over the coming year. The announcement came along with the establishment of the markets’ key objectives for 2008, of which E-placing and electronic factors […]



Aon Launches 2008 Marine Review

by Stewart Douglas

Story link: Aon Launches 2008 Marine Review

Insurance group Aon has today launched its annual review of the Marine Insurance Market, which has turned up the likelihood of growing premiums for insurance providers in spite of an increased in the risks faced by the industry, according to the details published today. According to the review, cargo markets are likely to continue to […]



January 29, 2008

Tuite-Dalton appointed to UIB board

by Richard Kilner

Story link: Tuite-Dalton appointed to UIB board

Philip Tuite-Dalton has been appointed to the board of UIB, the Lloyd’s broker. Tuite-Dalton is the chief operating officer of UIB, and, since joining the group seven years ago, has held the post of director with a variety of subsidiary firms. He will retain his position as chief operating officer, and will be tasked with […]



Ingram steps down as chairman

by Richard Kilner

Story link: Ingram steps down as chairman

The chairman of Ingram Hawkins and Nock, Rex Ingram, has declared his intention to step down, over four decades after founding the firm. The firm will be led by managing director Elizabeth Foster, and director and company secretary Neale, who is Rex Ingram’s son. Ingram has said that he is proud the firm remained independent, […]



CFC appoint new director

by Richard Kilner

Story link: CFC appoint new director

Graeme Newman has been named by CFC Underwriting as the firm’s new business development director. Newman leaves behind DRS Insurance Service, which he co-founded and which was recently bought by Oxygen. In his new role, his responsibilities will include the programmes for sales and marketing, as well as exploring business opportunities overseas and introducing new […]



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 […]



Lloyd’s reduces risk exposure

by Gill Montia

Story link: Lloyd’s reduces risk exposure

Lloyd’s of London has reduced forecasts for the amount of risk its syndicates plan to underwrite during 2008, because of falling premiums. In an annual update, the world’s oldest insurer reported that it plans to underwrite £15.95 billion of insurance risks this year, compared with £16.1 billion in 2007. The news comes despite the establishment […]



PPI revenue kept personal lending profitable

by Gill Montia

Story link: PPI revenue kept personal lending profitable

The Competition Commission has published details of its investigation into payment protection insurance (PPI), in which it claims that the lenders who sell the insurance can earn £1,200 on a policy that can cost only £20 to sell. The Commission’s investigations follow complaints from consumer groups that PPI is expensive, unnecessary and difficult to claim. […]



Towergate Complete McAra Deal

by Stewart Douglas

Story link: Towergate Complete McAra Deal

Leading insurance broker Towergate has today announced the successful acquisition of Scottish broker McAra Associates, as the latest target in its ongoing rapid acquisition drive throughout the UK, developing the the group’s presence and expertise within the Scottish marketplace. The latest product of the group’s specific acquisitions division, the deal with McAra will see it […]