Latest News – Page 1935
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Cila’s no surprise for Brandreth
Gyles Brandreth, the one-time Conservative MP and notorious wearer of loud coloured jumpers, impressed the great and good of the Chartered Institute of Loss Adjusters (Cila) at its annual lunch last week. Among the Cila crests and insignia, Brandreth apologised that he thought the Cila dinner was in honour of ...
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September Manager of the Month
Darren Scott is the first QBE Fantasy Football manager of the month, thanks to his team The Smurfs clocking up an impressive 100 points since the start of the season. The Smart & Cook broker and Lincoln branch manager lands a prize of £2,500 for his success, which he puts ...
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Financial news
Run-off business shrinksThe UK non-life run-off market has shrunk to its smallest size since 2002, according to a survey for the Association of Run-Off Companies. Run-off accounted for 18% of the entire UK non-life insurance market in 2006, equivalent to £32.7bn – £5.5bn less than in 2005.Reasons for the decline ...
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Buyers stalk Broker Network
Towergate was tipped as the most likely buyer this week, following Broker Network's surprise announcement that it had received a bid approach.Towergate, with £200m remaining in its acquisition war chest, is widely thought to have made the approach. But AXA has also been tipped as a potential suitor, fuelling speculation ...
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Lloyd’s swoops on stragglers as targets missed
Managing agents which have acted too slowly in bringing about electronic reform are to be paid a visit by Lloyd’s senior management. Lloyd’s also warned of possible sanctions against companies that fail to hit reform targets by the end of the year. The moves come as Lloyd’s confirmed that the ...
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Sheila seeks comfort from Tubby hubby
When Backchat revealed that Sheilas’ Wheels buxom brunette Emma Robbins was married to a Teletubby, few thought it would be Tinky Winky. Robbins, who met Simon Shelton – aka “the purple one with the handbag” – when casting for a Cliff Richard tour, said it was love at first sight. ...
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Be your own white van man
The famed courier service from One Lime Street to Chatham – whereby white vans transport stacks of paper from Lloyd’s insurers to a warehouse – will cease to exist come 1 April 2008. But apparently this may not be the end, as insurers will be free to run their own ...
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Words from the Lettsicon
Bouncebackability (adj.): A measure of the ability of a sporting team to recover from a defeat or setback; ‘West Ham battled their way back from an appalling start to last season to clinch a Premiership spot on the last day – that shows real bouncebackability.’Overcomeable (adj.): A measure ...
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Acturis gears up for push into healthcare
Acturis is set to enter the healthcare market and has taken the first step to international expansion.Acturis co-chief executive Theo Duchen said: “We have developed a number of PMI products – individual, group, cashplans, dental and travel – and are in the process of working with insurers to develop standards ...
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Copart deal opens way for recycled car parts
The acquisition of vehicle accident management specialist Universal Salvage by an American company could boost the use of recycled parts by UK insurers.Universal Salvage – which handles the collection and disposal of collision-damaged vehicles for insurance companies and the car industry – has been acquired by vehicle salvage company ...
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Aggregators failing to disclose insurer ties
Many aggregator sites fail to disclose commercial ties to insurance companies, which can mislead customers into thinking promotional features are actually the best value products in the market, according to new research.The Resolution Foundation, which commissioned the study, has called for a voluntary code of practice for price comparison websites.The ...
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Brit ready to cut regional brokers
Brit Insurance is looking to cut the number of brokers it trades with through its regional offices. The insurer said it would decide in the coming months which broker partners it wanted to do business with.It is looking to trade only with brokers which currently have accounts in excess of ...
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Brokers slam complex FSA questionnaire
Brokers say meaningful response impossible and guesswork needed
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Sagicor plans expansion of Lloyd’s operation
Sagicor is looking to expand its Lloyd’s operation with a series of strategic changes to be brought into effect in 2008, the company revealed this week.Increased capital, new teams and new lines are all on the cards for the Caribbean insurer, which consolidated its Lloyd’s business earlier this year.But precise ...
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Title insurance to benefit from Olympics 2012 effect
Insurers that provide cover in the event that title conflicts arise during land transactions are anticipating a boom in business heading into the Olympics.David Hawkins, managing director of First Title Insurance, said he was expecting a boom as companies capitalised on the thriving opportunities surrounding the Olympic site in London’s ...
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Flooding agreement up for change
Insurers have suggested that substantial revisions to the industry’s agreement with the government guaranteeing the provision of flood cover could be made in the spring. A range of issues including urban drainage, planning, coastal flooding, data sharing and clarification of which properties should fall under its umbrella could be subject ...
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NewsTop academic issues climate warning
Local authorities need to introduce greater measures to deal with flooding
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Steeper returns to GAB Robins in senior role
Former Crawford employee to oversee BI losses in specialist UK division
