Latest News – Page 2005
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Deflated by risk
Tesco has banned a children’s entertainer from using balloons during his act in one of its stores because he breaks health and safety rules.Barney Baloney, the clown, usually twists them into animal shapes and hands them to children. But Tesco has told the 47-year-old, also known as Tony Turner, to ...
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Rugby stars moving from the scrum to the ruck and maul of insurance
It is fascinating how the world of rugby is contributing towards the insurance industry. In the past few weeks Aon has appointed ex-Glasgow Hawks rugby star Cameron Little as business development consultant, which comes on the back of Welsh rugby legend Ieuan Evans being appointed as non-executive director of Welsh ...
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Ward's white van crush opens new era
Lloyd's chief executive Richard Ward may yet be the new Damien Hirst. Early next year he is to introduce a new sculpture to decorate the world’s oldest insurance market. The sculpture, a white van crushed into a cube, will symbolise Lloyd’s move into the electronic age. The old slip system ...
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Insurance home time
Forget Sunday roasts and primetime television: a disturbing number of people are spending their precious downtime scouring the internet – for insurance.Data from One Business Insurance found that online inquiries for small businesses peaked between 9pm and 2am on weekdays and 5pm and 7pm on a Sunday. In fact, 62% ...
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News
CBG half-year profits grow 43%
CBG Group, the Manchester based insurance broker, has grown its half-year profits to £718,000 – an increase of 43% on the same period last year. CBG, which recently secured £3m of equity to fund growth in the North West, also saw year-on-year revenue balloon by 48%.CBG chairman Laurie Turnbull, ...
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Supplements
The fear of change
Andrew Holt reports on the true state of the broker market, after an in-depth study reveals brokers’ hopes and fears
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C-ZoneUnacceptable delay
William Jones explains how important it is for insurers to validate claims within a set time, or they could face a breach of policy terms
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C-Zone
Increasing the fire risk
Mark Dunham warns warehouse operators about the effects a change in working practices can have on fire safety
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Comments/LettersPrepare for investor action
Anthony Hilton says Lloyd’s insurers will face the legal consequences of the US sub prime debacle while their shareholders are seeking better management
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News AnalysisCan a transplant heal our claims system?
The results of Ireland’s Personal Injury Assessment Board show a clear savings in dealing with claims. But opinions are divided as to whether this system can work in the UK. Tom Flack investigates
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News
Smart & Cook's shopping spree
Smart & Cook’s shopping spree is continuing after it announced its 54th purchase with the acquisiton of Willis’ Cumbrian operation.Willis Cumbria, which has a staff of 24, will continue to offer its commercial and personal lines businesses from its Cockermouth and Carlisle offices.Prior to its acquisition by Willis in 2004, ...
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News
R&SA to offer services for property investors
Royal & SunAlliance (R&SA) has introduced a range of services for its property investor customers, including an assessment of the risk of flooding in their potential investment areas.Offered by R&SA’s regional property investors trading teams the services include a version of the geographical risk assessment which can calculate the risk ...
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News
Glassure launched to manage glass costs
RAC Auto Windscreens has launched Saga Glassure, the first large-scale underwritten automotive glass solution. In partnership with Saga Insurance, the deal means glass cover risk will be transferred to RAC Auto Windscreens, which will manage all claims handling and administration on Saga’s behalf. Saga Insurance has been an RAC Auto ...
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Motor book surge pushes up Fortis premium income
100,000 policyholders added despite rate rises
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Global markets help Hiscox profits boom
?Hiscox has posted record half-year results with its Lloyd’s-written global markets business making up the bulk of the booming profits.The Bermuda-based, London-listed insurer posted gross written premiums up more than 17% from £625.1m to £733m with pre-tax profits leaping more than 72% from £61.3m to £105.6m. The company’s combined ratio ...
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News
Currency rates hit QBE Europe
Australian insurer QBE announced in its annual report that tough currency rates had hampered its European and Lloyd’s operations. The report said gross written premium (GWP) for European operations was down 4% to $2.9bn (£1.17bn) compared to the previous year, and net earned premium fell 6% to $1.9bn.But the combined ...
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News
Financial news
Hardy ups 2005 forecast Hardy Underwriting Group, the specialist Lloyd’s insurer reported that the expected profit for Syndicate 382, which it owns and manages, for the year ended 2005 to be in the range 11% to 16% (previously 7.5% to 12.5 %). In accordance with Lloyd’s requirements, the 2006 ...
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News
Dixons plans commercial comparison site
Hig street retailer's aggregator site to offer personal lines products by autumn
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News
Insurers to reassess product recall risk
The recent spate of multi-million pound product recalls from China will lead insurers to reassess how to manage the associated risks, according to industry figures. Aon associate director Mark Quinn said many customers would soon make it a contractual requirement for their suppliers to buy product recall protection, but cover ...
