Industry's top lawyers listed
Industry's top lawyers listed
Claims Xpress, sister company of Claims Direct, has this week opened another walk-in centre for personal injury claimants. The shop in Finchley, north London, is the 13th to be opened by the claims management company since December.
General Insurance Market Research Association is holding a seminar on creating and managing a competitive advantage between insurance companies at the City Conference Centre, Coleman Street, London, on June 8th. Prices are £150 for GIMRA member companies and £170 for non-members plus VAT. Tickets can be obtained by phoning 020 7490 4911 or through mrs.org.uk/events
The Association of British Insurers (ABI) and the Society of Lloyd's have restructured their interests in the Loss Prevention Council (LPC). Business and certain subsidiaries of LPC have been transferred to Building Research Limited (BRE). A new subsidiary the Fire Protection Association (FPA) have formed by the ABI and the Society of Lloyd's will hold LPC's publishing and training activities.
Rain blamed for claims
High rainfall in April has brought a sevenfold increase in the number of bad weather claims, warns meteorology consultancy British Weather Services. Managing director Jim Dale said most calls tend to expose pre-existing household damage rather than reflect new damage created by the high levels of rainfall.
Qualifications do count
Professionally qualified staff gives major insurers and IFAs a market advantage, says the Chartered Insurance Institute. A CII survey found 93% of organisations felt professionally qualified staff was a market advantage. And 50% of respondents said they would pay more for financial products if this resulted in greater consumer protection.
Euclidian split in marine
The Euclidian Group's composite syndicate 1243 is to split its marine and non-marine units. The marine unit will relocate to box 43 on the ground floor at Lloyd's where it will be part of the mainstream Lloyd's marine market. Euclidian's non-marine operations will remain at boxes 192/193 on Gallery 1.
No need to Q for claims
Basingstoke-based Q-Biz has launched a new web-based tracking system called ClaimsTrack. The system links insurance companies and customers electronically so that claimants can review the status of their claim at any time.
Virtual HR for Multicross
Internet start-up company Multicross has launched Virtual-Human Resources, a website providing brokers with advice on employment legislation. Free emails will offer brokers updates on employment legislation. Fact sheets will provide information on topics such as maternity policies, equal opportunities and dismissal, at www.v-hr.co.uk, and documents can also be purchased online.
Allianz goes south east
Allianz Cornhill has opened a new office to serve brokers in the south-east as part of its strategy to boost the area's premium income to £130m by 2004. The office at Worthing in West Sussex, accommodates 180 staff and administers the Southampton and Maidstone centres.
Brokers can learn more about the effects of ecommerce on their business at a two-day ABI conference. The event IT.com: Thriving in a Changing Environment takes place at The Belfry, Warwickshire, on May 18-19. IT experts from the ABI, insurers, and the CII will address all aspects of ecommerce and its impact on the insurance industry. Contact the ABI for details.
Nearly half of young people do not know how to manage their money when it comes to financial products, a new FSA report shows. The regulator spoke to 1,081 financial decision-makers nationwide. The findings of the survey show that in the under-25 age bracket, 43% or respondents did not think they were good at managing money.
One slip for all
Lloyd's Policy Signing Office and the London Processing Centre have developed the first policy clause to allow brokers to use one underwriting slip for the Lloyd's and Companies' markets. Underwriting slips are pieces of paper that brokers take to different companies to ensure that a risk is fully insured. The new clause has been added to the Market Wordings Database to provide easy access for the London market and promote quicker production of policies.
Lawfords law firm, not Law lords represented fire officer John Wadey in the House of Lords case relating to interest paid in personal injury damages as reported in Insurance Times April 20.