Broker News – Page 509
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News
Four commission models put to brokers by FSA
Brokers have been asked to consider four potential commission disclosure models under the FSA’s review. Reports last week suggested that brokers had been asked to provide feedback on three models for mandatory commission disclosure. These include disclosure of full remuneration to client and insurer. But it emerged this week that ...
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News
Insurers slam broker commission add-ons
Senior insurers have reacted angrily this week over national broker moves to charge additional commissions.The backlash follows the new remuneration models introduced by Marsh and Willis. They are planning to introduce a 2.5% commission on certain business lines. Aon has been doing this for some time. Some insurers are unhappy ...
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News
Marsh chief hits out at inefficient industry
Marsh UK chief executive, Martin South has called for the insurance industry to build stronger bridges between intermediaries and underwriters, in order to capitalise on emerging risks. Speaking at Lloyd’s, South said that until the industry addressed its lack of efficiency, it could not prosper. He said: “We have ...
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News
BJP to target SME and personal lines growth
Berkshire-based BJP Insurance Brokers is looking to expand in the SME and personal lines markets following a string of recruitments.BJP has recruited three members to its sales team to target more SME business, and hired a personal lines manager to increase its non-commercial clients.The independent broker currently specialises in commercial ...
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News Analysis
Commissions rise divides market
The new commission model announced by Marsh and Willis has reignited the debate on broker remuneration. James Dean reports
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News
Towergate planning swoop on Allen & Allen
Towergate is understood to be in discussions to buy motor specialist broker Allen & Allen. It is believed that the discussions for the acquisition of the Middlesex-based broker are at an early stage. The group, which specialises in non-standard motor insurance, has an annual premium income of more than ...
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Online onlyABI blasts government over flood defence spending
Association says government has failed to grasp importance of improving Britian's flood defence
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Bollington acquires Manchester broker
Group strengthens North West position with first aquisition since Groupama takeover
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News
Brokerbility shops for South East brokers
Four new acquisitions push group’s controlled premium closer to year-end target
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News
Cobra targets reinsurance as first half profits flat
Broking group Cobra is to enter the reinsurance sector in a move to expand its London market division. Cobra Holdings chief executive Steve Burrows said the group had invested heavily in its London market operation, employing new teams to develop the reinsurance operation. He said: “We decided now is the ...
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News
NU pulls out of Oval deal as Allianz poised for stake
10% shareholding deal to be completed in next few weeks
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FSCS steps in after broker goes into administration
The FSCS is stepping in to help customers of Bracknell broker Your Health Plus Insurance Services who may have lost money after the firm went into administration.It has now declared this firm in default.The FSCS said it may be able to pay compensation to those policyholders who paid premiums to ...
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News
A lateral jump that shook the industry
Towergate’s move on Open International is a sharp change of strategy. Michael Faulkner reports
