Broker News – Page 148
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NewsMarsh’s Weil: SME broking needs to change
Simply finding the right price for clients will no longer be good enough to thrive as an SME broker, according to Marsh UK and Ireland chief executive Mark Weil. In his keynote speech at the inaugural Insurance Times Insuring SMEs event in London yesterday, Weil also ...
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NewsBroker Network plots acquisitions
Broker Network is planning to acquire brokers, according to market sources. The network is close to completing a deal which means that Towergate will retain 19.9% of Broker Network’s shares. Towergate, which is selling a majority stake in Broker Network to Highbridge for £46m, has put ...
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NewsAXA Global unveils new five-year plan
AXA Global has revealed its Ambition 2020 strategy. The new five-year plan centres around two strategic priorities: focus and transform. Key points: First priority is continued focus on selective growth, cost efficiencies and technical margin improvement Insurer wants to grow in commercial lines AXA ...
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NewsTravelers enters direct channel with cover for small businesses
Travelers Europe has launched a direct SME proposition for small businesses in the UK with fewer than 10 employees and less than £2.5m in revenues. Key points: Offering is Travelers’ first big entry into direct channel UK Move made in response to growing SME ...
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NewsAon Benfield makes senior hire to head global cyber practice group
Aon Benfield has hired Luke Foord-Kelcey to co-head its global cyber practice group. Based in London, Foord-Kelcey will be responsible for developing Aon Benfield’s cyber offering to insurers and reinsurers. He will work with co-head Bill Henriques, who established the practice group. Prior to joining Aon, ...
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NewsFine firms for failing to report data breaches - MPs
MPs are calling for tougher rules that could force companies to report cyber attacks. The Culture, Media and Sport select committee said in a report yesterday that the regulator should have a “robust system of escalating fines” for those failing to report security breaches, the Financial ...
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NewsSaga makes 'good start to year' in core business arms
Saga said it has made a good start to the year across its core trading divisions in the period from 1 February to 20 June 2016. In a trading update announced today, the over-50s insurers said it was also on track to achieve its target for ...
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NewsInsuring SMEs: Biba to launch SME flood solution in September
Biba is aiming to launch its planned flood cover solution for small businesses on 1 September, according to chief executive Steve White. Speaking at the Insurance Times Insuring SMEs event in London today, White gave an update on the solution’s progress. He said: “We have ...
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NewsInsuring SMEs: Live updates
The latest news from the event as it happens from the Insurance Times team
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NewsBiba urges members to vote 'Remain' in EU referendum
Biba has repeated its support for remaining in the EU, and urged members to make their voices count in Thursday’s referendum. The brokers’ body reiterated its position that the British insurance broking sector would be better off remaining in the EU, and that Brexit “would be ...
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NewsHomeserve names Ford chief operating officer
HomeServe said it has appointed current group chief financial officer Johnathan Ford to the new position of group chief operating officer. In his new role, Ford will ensure high levels of operational effectiveness across the group as it grows, the home assistance company said. As part ...
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NewsSwinton revamps Preston branch as part of high-street overhaul
Swinton has opened its newly-refurbished Preston branch as part of an overhaul of its high-street presence. The broking group said the revamped Preston branch will serve as a pilot for its new high-street presence. The branch revamp follows a strategic review of the business, which Swinton ...
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NewsCooper Gay hires strategy and change head
Broking group Cooper Gay Swett & Crawford (CGSC) has hired Wendy Kilminster as head of strategy and change. She will join the company in September and report to group commercial director Andy Wallin. CGSC is in turnaround mode under new chief executive Steve Hearn, who joined ...
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NewsInsurers must prepare for big changes as driverless era looms
The UK motor insurance market must prepare itself for legislation changes, huge falls in premium income and fewer crashes as driverless vehicles become reality, research firm Thatcham said. The firm said that by 2021 driverless cars will be able to go on motorways and that by ...
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NewsAirmic to update broker remuneration guide
UK risk manager trade body Airmic is planning to update its guide to broker remuneration. The guide, aimed at commercial insurance buyers, is intended to help clarify the status of brokers and how they are paid for their services. Key points: Airmic says broker ...
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NewsLonmar changes board as directors exit following GRP deal
Lloyd’s broker Lonmar is reshuffling its board after three directors left following the completion of the management buy-out backed by Peter Cullum’s consolidator Global Risk Partners (GRP). Lonmar chairman Howard Steeples, director Christopher Birrell and non-executive director George Boden are now no longer Lonmar directors following ...
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NewsZurich names personal lines and Endsleigh heads as broking director exits
Zurich is planning to split the management of Endsleigh and its personal lines divisions. The decision follows the resignation of Patrick Cohen earlier this month who headed up both divisions. He had only been in the role for eight months. As a result Jeff Brinley is ...
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NewsFoo Fighters sue Integro broker and insurers over cancelled shows
Foo Fighters are suing Integro-owned broker Robertson Taylor and several insurance companies for not paying out for seven cancelled gigs. The US lawsuit mentions three cancelled performances after lead singer Dave Grohl broke his leg in June 2015 and four after the Paris terror attacks in ...
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NewsGallagher: our data justifies calls for more commission
Arthur J Gallagher deserves the commission it is paid because it has more and better data than insurers, special adviser Dave McGurn has said. Speaking during an investor call McGurn, Gallagher’s former chairman of risk placement services, said that while insurers were trying to cut what ...
