Insurer News – Page 338
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FeaturesBriefing: Will others follow RSA and drop brokers?
Personal lines motor remains unprofitable as a whole – at least for now
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Online only29 May 2014 Issue
Read a digital version of the 29 May 2014 edition of Insurance Times. In this issue: how RSA went wrong with motor; Gallagher’s regional bosses revealed; Niche insurers’ growth plans; the FCA’s Simon Green writes on claims; brokers face anti-bribery focus; richest men in insurance; ERS head Ian Parker interviewed; ...
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News
Broker conflicts of interest could lead to 'significant fines'
The FCA is currently working with the seven large brokers reviewed - using appropriate regulatory tools
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Direct Line awards £546k of stock options to new personal lines boss
Mike Holliday-Williams awarded 224,636 shares
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Multinationals drive trade credit market growth
Large multinationals are buying more credit insurance as the risks increase, according to Marsh
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UK General to cut number of commercial brokers
‘Well defined risk appetite means working with a smaller number’ - commercial managing director
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Online only
Insurance second most common type of nuisance call - Ofcom
But consumers say insurance calls are more useful than the average nuisance call
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AXA tops Brokerbility insurer performance survey for 11th consecutive time
NIG was the only insurer on the panel that recorded a reduction in its overall performance
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Lloyd’s finance chief Savage leaves for Standard Life
Insurance market splits Savage’s old position into two new roles
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No evidence of systematic attempts to deny travel and household claims - FCA
But regulator wants improvements on claims management and policy wordings
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Aspen replaces Catlin on waste facility
Miles Smith reveals new lead underwriter on wholesale arrangement
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Brown sells RSA shares ahead of departure to Gallagher
UK chief’s wife offloads RSA stock worth £884k
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RSA cuts ties with 800 personal motor brokers
Forty sales and service roles will be made redundant
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Marsh appoints new head of placement in national corporate business
Businesses recovering from financial crisis are still mindful of risks and are using insurance to protect balance sheets - Marsh
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Homeserve loses UK customers in wake of mis-selling fine
Pre-tax profits drop 63% after record FCA fine
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Opaque exclusive arrangements could breach FCA principles – IBSC
Consultation on whether brokers must tell clients about exclusive deals
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TEn pens motor trade binder deal with LV=
TEn aims to write over £500,000 in premiums with LV= over the next two years
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Struggle to handle increase in data could cause fraud to escalate
But 65% of brokers say greater digitisation of information will help
