Latest News – Page 1988
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ABI backs FSA regulation of travel insurance
New regime must benefit customers without adding costs, says ABI director
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Anti-social behaviour costing Brits billions in repairs
Anti-social behaviour has cost Brits over a billion pounds ¹ in repairs in the last five years, according to Zurich.The study reveals that more than 30 million ² adults have experienced anti-social behaviour, with nearly one in five (22%) shelling out at least £400 since 2002 to fix vandals’ handiwork.Most ...
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FeaturesIndependence Dave
Perkins Slade is an independent broker based in Birmingham which its owner says will never be sold. The strength of the company seems to bear that out. Natasha Lavattiata explains
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NIG battles the Buttery
NIG is set to face a showdown with one of Glasgow’s oldest and most celebrated restaurants, The Buttery.The restaurant is set to take the RBS-owned insurance company to the Financial Ombudsman Service after it suffered a catastrophic fire in December 2006, resulting in its closure. The Buttery alleges that NIG ...
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New Lloyd’s settles on a pin head
Lloyd’s is regarded as the pre-eminent insurance market, with a massive reputation across the globe. One renowned micro-sculptor, Willard Wigan, has created a replica of the Lloyd’s building to the exact precision and proportion of the real thing, but sitting on the head of a pin.The meticulous effort has been ...
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Shrinking the big boys
While Phil Bunker and his ABC Insurance team are helping smaller brokers to grow, it seems they’re doing it by taking some weight off the ‘big’ brokers.Bunker recently challenged Paul Cosh, managing director of Hero Insurance Services, to reduce his size. Well, Cosh was already on a diet and ...
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NU hit by tennis glass war
Norwich Union has warned youngsters to beware of errant forehands, and pay less attention to summer fruits. As Wimbledon fever takes a grip, the insurer has urged consumers to “forget strawberries and cream,” and pay heed instead to “Federer fever”. Last year the insurer payed out a cool £4.3m in ...
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News AnalysisAssault on the regions
With Marsh’s declared intention to step up its drive into the SME sector, regional brokers could lose out.
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Comments/Letters
The problem with contracts
I have recently been investigating the potential opportunities that working with new partners might bring, and have found that entering into a formal agreement is fraught with danger unless you are well advised and extremely cautious.It may seem obvious, but unless firms are on top of the contract they are ...
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News
Saga-AA merger pressures insurers
AA’s insurer panel could be disbanded or face commission pressure, experts warn
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News
Flooding makes case for more defence cash
Further flooding this week has increased the pressure on the government to increase its spending on flood defences, including dams. On Monday evening, cracks appeared in a dam at the Ulley reservoir near Rotherham. Research by David Crichton, of the Benfield hazard research centre, has revealed that 69% of ...
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News
Web news…
Open GI EDI rises 8%Open GI systems were used to write 2.2 million policies via EDI, during its financial year ended 31 May 2007, the software house said. This was an 8% increase on the previous year. First published on 20 JuneNewcastle appoints L&GLegal & General was appointed by ...
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Blair’s funding pledge for flood defences
An additional £600m committed to coastal defences this year
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News
News in brief…
Governance reforms The government is to overhaul the governance arrangements for Lloyd's. Ed Balls, financial secretary to the Treasury, said the decision was taken as part of reforms of the London insurance market, looking at where "corporate governance arrangements are out of step with modern practices."Fortis affinity moveFortis named Allison ...
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News
Aggregators urged to be more transparent
Pressure is mounting on aggregators to be more transparent, following weeks of growing tension between direct insurers and comparison sites.A number of leading insurers have called on the industry to provide clearer information to customers after it emerged there was increasing confusion over the role aggregators play.An unnamed insurer, told ...
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News
Offshoring to rocket in five years
The number of insurance jobs relocated offshore is set to rocket in the next five years as companies look to cut costs, according to new research.A study by Deloitte found that there were currently 50,000 UK financial services jobs overseas, an increase of 2,500 from the year 2000. But insurance ...
