Stress set to keep growing
A survey of risk managers has identified work-related stress as the largest risk confronting insurers in the 21st century. Almost 90% of AIRMIC managers felt stress would increase as a risk factor for both organisations and society at large.
Thompson and Rudd merger
Solihull-based Paul Thompson Insurance Group has merged with Malcolm Rudd of Edgbaston. Both firms specialise in corporate general business. The new entity, to be known as the Thompson Rudd Group, will have a staff of 30. Further expansion is planned.
Huge premium boost at CIS
Competitive rates helped swell Co-operative Insurance Society's general insurance premiums by £73 million (24%) last year. Motor insurance premiums grew even faster, as 40% more customers flocked to take out its comprehensive policies, boosting its total annual motor premiums by £59m or 30%. CIS now insures 800,000 motorists. CIS attributed the results to its decision to peg premium rises to seven per cent last year, in the face of average rises of 15%
There's no gain without Pain
John Pain has been made managing director of Lloyds TSB Insurance. He is currently in charge of private banking and has been with the bank since 1974.
TIFCO gives it to you straight
Premium finance house TIFCO has produced two plain English guides for brokers. The first is presented from the insured's point of view and gives brokers a handy introductory guide to pass on to their clients. The second explains how third-party finance works from the broker's perspective and outlines how to maximise the benefits of offering it to clients.
Prudential man to Sainsbury's
Prudential lost its chief executive Sir Peter Davis to Sainsbury's last week. The move has provoked rumours that the supermarket giant could be seeking to develop its financial services activities.
Direct Line has new .com logo
Direct Line has launched a new ".com" logo for its multi-media activity. The logo comprises Direct Line's red telephone icon with a .com graphic. The new logo will be introduced as part of a £2 million advertising campaign for directline.com. It coincides with the launch of further quote and buy on-line products.
MWD & Lloyd's go on-line
The Market Wordings Database (MWD), an electronic library of London market wordings, clauses and policy forms is now available on-line. MVD is a joint London market initiative administered by Lloyd's. The web site, www.marketwordingsdatabase.com, includes more than 8,000 entries. It is available to all organisations involved in insurance in the London market.
Quest Gates' legal service
A service designed to cut the cost of the claims process and reduce litigation has been launched by The Quest Gates Partnership. Quest Gates Rapid Response addresses requirements of the Civil Protocol Reforms. It can be tailored to meet the needs of individual insurers.
Society hits the mark
The Society of Claims Technicians has passed the 100-member mark since being launched last May. It has now unveiled plans to recruit from new areas of the insurance industry. The membership drive will target the motor, product warranty, liability, travel and marine goods markets.
Security talks around the UK
Brokers can catch up on the latest innovations in the security industry at a series of conferences planned by the British Security Industry Association. Among the topics to be addressed will be new European Commission standards for intruder alarms. The seminars are to be held in London, Birmingham, Manchester and Glasgow in May.
Praise for van crime scheme
A registration and identification scheme used by insurers in their fight against caravan-related crime has been recognised with an award. The International Association of Autotheft Investigators has chosen the Caravan Registration and Identification Scheme for its Keith English Award of Merit.