Latest News – Page 1997
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News
Gender pricing success
Insurers will be able to price according to sex and age, following proposals released by the Treasury this week. There had been fears that insurers would not be able to differentiate between customers based on age and gender. This was partly linked to the implementation of the EU Gender Directive.But ...
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News
Premiums to fall after smoke ban, says Novae
Employers’ liability (EL) premiums could fall when the smoking ban comes into force next month, insurer Novae has predicted.Novae said it had slashed its EL premiums by 25% for Scottish businesses, where there was no longer a passive smoking risk for employees as a result of the ban, introduced last ...
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News
Giles buys Ink in £25m acquisition
Giles Insurance Brokers has continued its consolidation drive with the acquisition of Ink Underwriting.The purchase of the Essex-based underwriting agency will add approximately £25m gross written premium to the company’s business, increasing its size to £160m. Ink Underwriting specialises in liability insurance for the printing sector. It is also diversifying ...
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News
HBOS in frame after Erinaceous share fall
Shares in Erinaceous Group have continued to fall this week following the withdrawal of private equity firm, 3i, from the takeover race. Shares in the property specialist fell 6% this week. As Insurance Times went to press, shares were trading at 247p. The departure of buy-out specialist 3i leaves HBOS ...
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News
Financial news…
Dual reports 20% rise Dual International reported a 20% increase in gross written premiums for the half-year, surpassing €52m. Dual said its directors’ and officers’ book remained “buoyant”, with 40% of new business produced from first time buyers of liability products.DAS looks abroad DAS will look to expand into other ...
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News
CBG seeks £3m for buy-out fund
The company is proposing to raise £3m by way of two placings at 141p a share
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News
Lloyd’s returns to debt market
Lloyd’s syndicates are set to receive a windfall of £335m after the corporation ann-ounced it was returning to the debt market for a second time.Those syndicates that have paid into the Lloyd’s Central Fund, levied at the rate of 0.75% of capacity, will be repaid later this year.Lloyd’s announced, at ...
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News
Web news…
Zurich in caravan dealZurich became the sole underwriter to Park Home Insurance Services, signing a five-year underwriting and claims agreement. Park Home provides insurance for residential park homes, static caravans, touring caravans, holiday lodges and motor homes. First published on 7 JuneOnly’s travel strategyOnline insurance provider Only Insurance said it ...
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News
NU sues firms over windscreen
Norwich Union (NU) has launched a £250,000 legal action against 15 businessmen and a number of companies allegedly involved in a windscreen repair scam. The insurer claims the businessmen dishonestly charged the insurer for windscreen repairs. NU is suing Diamond Crystal Autoglass, Autoglaze Direct, Perfect Six Glass, and Glass FX ...
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News
Oval shopping spree moves into North West
First South East acquisition boosts broker’s controlled premiums to over £300m
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News
Walk-in underwriting service – good idea?
Last week, Royal & SunAlliance announced it was opening a new “open door” underwriting office in Leeds. Brokers will be able to walk in off the street to speak to an underwriter. Natasha Lavattiata asked four brokers whether it was a good idea.
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News
Web news…
Aon’s eco risk warning Risk managers must view environmental risks as part of their core risk management, according to Aon Global directors, Bob Martin and Marcel Steward. They told the Airmic conference that environmental risks could be the largest potential liability for many companies, although they were often unquantified and ...
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News
Airmic claims index to focus on property
Indices on liability, business interruption and D&O claims payment could follow
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News
Risk managers concerned about broker payments
Risk managers are still concerned about broker remuneration and transparency, according to a survey conducted at the Airmic conference. The survey revealed a large number of respondents (86%) emphasised the importance of how brokers are paid. Over two thirds (70%) of respondents said the broking sector had not changed ...
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News Analysis
Broker consolidation - Is flotation such a capital idea?
Many brokers are rushing to the stock exchange to get their hands on the cash to expand, but Tom Gifford says there are many drawbacks to that strategy
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Comments/LettersBattle for talent
Elliot Lane says the business of recruiting and holding talented individuals is tough, but one worth investing the necessary time, effort and funds in
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Comments/Letters
PPI refund confusion
If the consumer watchdog Which? can get mixed up with the level of refund available from a cancelled single premium protection policy, then what chance does the man in the street have?Reading through an article in May’s edition of Which? magazine, I stumbled across a sentence that made me draw ...
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Comments/Letters
Solicitors’ panels
It was interesting to see Kathryn Mortimer’s remarks defending solicitor performance (Letters, 10 May) which probably reflect the position and experience of many legal expense insurers. The concept of solicitors’ panels makes commercial sense for the insurer and ought also help to secure delivery of an appropriate level of service ...
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Backchat
Conflict over family relations
Acquisitions are never easy things to do. Once the deal is finally done there’s the job of soothing egos and making room for everyone to play happy families.One recent broker acquisition, however, has trumped the lot causing more problems and a lot more confusion before the ink on the contract ...
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Backchat
Aggregator cashes up
One of the founders of aggregator giant Moneysupermarket .com has made a cool £162m from the sale of his stake in the business. Ferrari-driving Duncan Cameron had stepped back from running the business, becoming a silent partner, amid reports of a falling-out with co-founder Simon Nixon. While Moneysupermarket, which is ...
