The stories hitting the headlines this week ...
Response
Biba has backed the FSA clampdown on aggregators, calling for more regulation, better customer service and an end to the pre-populating of answers to questions.
Swoop
Oxygen’s 21-strong London market team has left to join Arthur J Gallagher. Oxygen announced it has agreed to release the executives from their restrictive covenants.
Prediction
UK commercial insurance could see a sudden spike in rates if there is no increase soon, Groupama Insurances UK chief executive Francois-Xavier Boisseau warned when announcing his company’s half-year results.
Price cut
Young Marmalade claims it has reduced premiums by 17% by using telematics. The specialist young driver insurer’s Intelligent Marmalade scheme uses satellite technology to track its customers’ behaviour, rewarding good driving with lower premiums.
Let down
Aviva chief executive Andrew Moss admitted that RAC did not live up to ambitions for the insurer, which planned to cross-sell home insurance to its subsidiary’s customers.
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