Latest News – Page 2001
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Online only
Airmic to study risk management in business
Airmic to research and measure the value of enterprise risk management
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News
Lockton legal PI business dive
Lockton’s professional indemnity (PI) business is in freefall after losing four major law firm clients to rivals in recent weeks and seeing its revenue slashed by £300,000 as a result.The broker also saw two senior people depart within the professions division last week and is getting rid of a further ...
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News
Cullum is staying, says Towergate
Towergate has quashed reports that its chairman Peter Cullum is set to step down, saying that Cullum is in fact set to be at the helm for at least the next two years. Marc DonFrancesco, group head of marketing, said: “Anyone who thinks that Peter is stepping down ...
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News
News in brief…
R&SA opens Leeds officeR&SA has opened a new market site in Leeds to service brokers in Yorkshire and the North East. 14 key decision makers will focus on clients above £25,000 GWP for property, liability and motor classesZurich appointmentZurich has appointed Richard Elliot as head of its European property investors ...
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News
Fresh market fears over electronic reform
Senior insurance figures have raised doubts over the ability of the Lloyd’s and London market to process all new claims electronically by the end of 2007. Insurers and brokers have until the end of the year to start transacting claims through document repository, the electronic claims file (ECF), as set ...
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News
Independent battle
Nathan Skinner says the ‘Independent Three’ trial promises to be one of the most challenging court battles the SFO has faced
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News
Lloyd’s appoints Langley to drive efficiency
Lloyd’s drive towards greater operational efficiency has been given renewed impetus with its appointment of G6 head Sue Langley.Langley, who has been a key part of the group responsible for pushing business process reform, will join the corporation as director of market operations and North America in the summer.She is ...
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News
Airmic’s broker boost
A survey of Airmic members has found they are experiencing much improved broker transparency. According to a survey published at the association’s annual conference this week, 38% described the willingness of their brokers to disclose their remuneration as excellent, 36% as good and just 6% as poor.Airmic chairman Colin Campbell ...
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News
Cobra to float in move to fund acquisitions
Cobra Holdings, parent of Cobra Insurance Brokers and Cobra Network, is set to float on Aim and raise £10m for acquisition activity.Cobra will float on 29 June and two days later is expected to announce an acquisition adding £25m to its £350m premium income.Steve Burrows, Cobra’s chief executive also ...
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News
CII’s £200,000 talent fund falls short
Out of the £200,000 that the CII sought from the industry for its Talent Initiative to attract young people into insurance only Allianz has committed a £20,000 sum.The pressure is now on the remaining 10 insurance giants, who were present at a CII breakfast briefing last week, to come up ...
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News
New syndicate fails to get approval
The launch of a new Lloyd’s start-up has been held up after the company was forced to revise its business model, Insurance Times has learned.Leinster Syndicate 4882 was due to begin operations in April, but it is understood to have failed to gain necessary Lloyd’s approval in time.According to a ...
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News
Jelf seeks to lead with £250m GWP target
Aim-listed broker Jelf Group has revealed its target of hitting £250m GWP over the next two to three years and becoming the leading broker in Wales and the south of England.In addition, the Bristol-based broker hopes to secure £200m GWP in healthcare alone. Speaking to Insurance Times, Jelf chief executive ...
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News
Alea amalgamation fails
Alea shareholders have rejected the proposed amalgamation by FIN Acquisition at the rescheduled general meeting, held last week.This puts an end to speculation that a rival could launch a bid. FIN Acquisition is an investment vehicle formed by the Fortress Investment Group.Last month, a “preliminary unsolicited approach” to the company ...
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News
Financial news…
Elite earnings soarElite Insurance, LitComp’s Gibraltar-based after-the-event insurer, finished its first full year of trading “ahead of expectations”, the company said. Unaudited results for the year ended 31 March 2007 showed a very “significant improvement over the previous year”. LitComp’s anticipated earnings before interest and tax were thought to be ...
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News
Web news…
UK drivers pay too muchUK motorists are paying too much for third party car insurance and would be better off choosing a fully comprehensive policy, according to new research by Insurancewide.com. It says that drivers aged over 35 with cars worth less than £2,500 are paying on average between £500 ...
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News
Insurers play down ombudsman ruling
Insurers not concerned over upholding of £100,000 cap on compensation claims
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Backchat
Those mystery prizes
Brokers Stuart Alexander won a whole host of prizes at the Biba conference, two weeks ago, including a weekend at a spa and golf resort.The AXA-owned broker’s marketing team telephoned Backchat to boast about other prizes won, such as a 32” flat screen TV, in-car DVD system and £250 cash. ...
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Backchat
Another hack needs a bulldozing
Robert Hiscox is not too enamoured with the press at the moment, it would seem.The chairman of Hiscox has only just recovered from a piece in a certain Sunday newspaper claiming that he wouldn’t mind if Lloyd’s was bulldozed.Now the outspoken insurer is fending off another article trying to besmirch ...
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Backchat
Claimant’s load of bull
Admiral’s anti-fraud strategy is bang on target.The booming car insurer added another string to its bow by using a private detective to shadow a latter day Robin Hood. Claiming he had lost all control and feeling in his arm, the claimant was taking aim at a cool half million. However, ...
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Comments/Letters
Personal injury ‘trade-off’
I agree completely with Tom Jones that we all want safer workplaces (Comment, 24 May). The insurance industry has a long and proud history of driving safety in many areas, including at work.But it is a cheap jibe for Tom to assert that under the recently published Ministry of Justice ...
