All Insurance Times articles in Issue 29-11-2007
View all stories from this issue.
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News
Web news
RI3K simplifies pricingResponding to market criticisms over its pricing, electronic trading service RI3K is publishing a simplified pricing tariff. Carriers will now be able to select one from a menu of three options for using the service. Uncertainty about the cost of electronic trading has become a major talking point ...
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Backchat
Make sure your junk is safe
Abbey has gone all David Dickinson and told us to love our junk. According to research done by the home insurer, “the nation is hoarding £50m worth of inherited items and hand-me-downs that they don’t actually like”.An average person owns £9,466 of junk. So, in an age of Cash in ...
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News
Homeserve line up revealed
Homeserve has announced the line up of senior staff in its emergency services (HES) division.Homeserve has placed its most experienced staff in general manager roles. They will report to Dominic Shorrocks, chief operating officer of HES.Ian Shipley will be general manager for plumbing and drainage business, Alan Horton has been ...
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Backchat
High time for landlords
According to an online broker, landlords should be on high alert after receiving a record number of damage claims for rented properties being used as cannabis factories. The broker says claims range from fires caused by lighting systems being used for growing the plants, to floorboards ripped up to make ...
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News AnalysisGrasping the MGA nettle
Willis announced last week that it is to launch its own managing general agent. How much of its business will go into the MGA channel and how will larger brokers react?
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C-Zone
Going Places
BrokerClear Insurance ManagementClear Insurance Management has appointed Paul Roberts as account executive. Roberts joins from Aon Global Risks. Direct GroupDirect Group has appointed Stuart Pendleton as account director, financial services.Pendleton will be responsible for the growth, management and development of business relationships in the financial services sector. He has 18 ...
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Backchat
It was game off at FWD’s tables
To Mitre Street for FWD’s annual shindig – this year, gangster themed. Despite the fact that no one, including the hosts, donned their costumes, spirits were lifted (and beers too) by the in-house casino, complete with the old favourite, blackjack.But the dealer’s emphatic declaration that insurance was unavailable, led our ...
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Comments/Letters
E-certificates welcomed
The Department for Transport’s (DfT) decision to implement motor e-certificates (News, 22 November) is fantastic news. The BGL Group has been lobbying on this point for many months to highlight its huge benefits, and to push for its adoption.The move will help the motor insurance database, financed by the insurance ...
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Features
Who’ll be top dog of the high net worth pile?
Brokers are finding increasing competition in the high net worth sector but they can still have a profitable business. Caroline Jordan reports
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News
Critical underwriting shortage highlighted
The insurance market is facing a critical shortage of underwriting expertise, made worse by consolidation in the market, a report by the CII and Ernst & Young has revealed.The Future of Distribution in SME Commercial General Insurance says that underwriters will have to become more entrepren-eurial, and develop stronger data ...
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Comments/Letters
Convergence is the flavour of the month
Sarah Kennedy says that Allianz is the latest in a line of firms seeking to merge divisions to adapt to market changes.
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Comments/Letters
Brokers need more support from underwriters
Despite the fact that changes are being introduced to the Insurance Conduct of Business (ICOB) rules next month, it strikes me that very little has been done to understand the proposed reforms, or make alterations to be compliant with them.After its usual round of consultation and discussion, the Financial Services ...
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News
Douetil defiant as Brit takes a fall
Brit shares suffered a drop in price following the release of its third quarter trading update this week – even though analysts were happy with the company’s reassurances over sub-prime exposure and falling rates.Chief executive Dane Douetil said he expected rates to improve “in the next 12 months”, and the ...
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News
News in Brief
Fitch upgrades NUFitch has upgraded Aviva International Insurance, Aviva Insurance and Norwich Union Insurances’ Insurer Financial Strength ratings from 'AA-' to 'AA', despite the £235m hit from the UK floods. The outlook for the group is stable.Ntegrity poaches twoStart-up PI broker Ntegrity has poached Lockton employee David Gleeson and Alison ...
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News
News in brief
Brit appoints PI writerBrit Insurance Holdings has appointed Clive Moore as North American professional indemnity (PI) underwriter. Moore has worked in the Lloyd’s and London markets since 1974, specialising in professional liability in the US for many professions, including lawyers, architects and engineers. Aon in captive cash dealAon Global Insurance ...
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Features
The buyback boom
Jardine Lloyd Thompson is the latest in a line of insurers preparing a repurchase program to buy back shares. As the trend grows, James Dean looks at its effect on the market
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News
Hardy moves closer to Bermuda decision
Hardy has moved a step closer to redomiciling to Bermuda, with chief executive Barbara Merry travelling to the country on a fact-finding mission.Merry said Hardy was undertaking a “very comprehensive review” of the Bermuda market, and accused the Treasury of “making the situation worse” in denying tax cuts to the ...
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News
Xchanging launches legal battle with Synergy
Xchanging, the electronic services provider, has launched legal action against Synergy Insurance Services – a company it helped set up – for alleged multiple breaches of a business agreement.Xchanging’s Ins-Sure Services claims in a High Court writ that Synergy, the managing general agent and intermediary, failed to pay £117,500 set-up ...
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News
Insurers to face barrage of subprime related claims
Professional rates at lowest levels in 10 years according to Willis backed survey
