Latest News – Page 2010
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Comments/Letters
No NU price war
Your article on Norwich Union’s joint venture with HSBC stated that HSBC Insurance’s growth targets would be met by launching a price war (News, 17 May). I would reassure the market that this is not our intention. HSBC has historically punched below its weight in insurance, which means there is ...
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Comments/Letters
Solicitors' regulation
The throwaway remark by Kathryn Mortimer, head of legal services at DAS Legal Expenses (Letters, 10 May) that “in defence of ‘all insurers, unlike solicitors we are FSA regulated and therefore have a responsibility to treat customers fairly” cannot pass entirely without comment.Welcome to the 21st century! Solicitors have been ...
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News
Insurers deny move to ignore penalty points
Major insurers have moved to dispel suggestions that premiums for drivers with multiple points on their licence could be set to plummet.This week broker giant Swinton said that drivers were being penalised unfairly by insurers and had lowered its rates as a result. It suggested that others in the motor ...
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News
Speculation mounts over Davies Group MBO
Loss adjuster preparing to announce a major City-backed capital boost
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News
Broker Network eyes start-up businesses
Broker Network has doubled its sales team in a bid to add 60 new members a year to its current total of 175. The expanded team will also continue the network’s ‘start-up proposition’ and by April 2008, aims to have set up six new broker firms, according to the company. ...
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News
Alea takeover stalled after shareholder meeting postponed
The ongoing takeover saga of Alea by FIN Acquisition has taken another twist with the postponement of the shareholder meeting this week. The special general meeting, held to determine whether FIN’s offer for Alea was to be implemented as either amalgamation or acquisition, was postponed for 10 days as ...
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Backchat
Millie's £50,000 masterpiece
Readers may have read elsewhere in this issue about broker Matthew Hewitt winning the QBE Fantasy Football league. What you will not know is that the Elstree Insurance broker had some unique intervention from his five year old daughter Millie. At half-time Hewitt was trailing by four points in the ...
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Backchat
Sheilas take a bow
Pseudo-legendary, sequin-clad insurance trio The Sheilas plan to launch a new market-leading product this summer, with their debut single: “(I'm so) Happy Happy (You’re Mine).”If the brackets weren’t confusing enough, meet the team. There’s Cathi, whose claim to fame is “I am lovely”; Emma, who is married to one of ...
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News
Homeserve ready for £500m D&G buy-out
Homeserve is preparing to ramp up its position in the home emergency cover market after opening talks with Domestic and General (D&G) over a potential buy-out.The emergency services provider admitted it had approached its smaller rival, with a view to entering discussions over an offer.According to analysts this could be ...
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News
Personal lines drive for Post Office
The Post Office has drawn up ambitious plans to grow its share of the competitive home and motor insurance market.In the next five years the company hopes to grow its share of the home insurance market by around 2% while also tripling its share of the car insurance market to ...
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News
Ward threatens: reform or else
Market told to adopt electronic systems or face compulsory measures
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News
Fire-ravaged Cutty Sark insured by R&SA
Royal & SunAlliance is the insurer of the Cutty Sark, the nineteenth century tea clipper that was gutted by a fire on Monday, Insurance Times has learned. Brokers Hayes Parsons and Willis placed cover for the charity Cutty Sark Trust, which operates the London landmark. The sum insured has not ...
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News
Biba acts in goodwill crisis
Biba is looking at developing a solution for brokers to address the potential crisis over goodwill. The move follows a warning in March from the FSA that nearly 600 brokers must restructure their businesses by early next year or be in breach of the rules. Under FSA rules, goodwill cannot ...
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News
Fantasy ends with £50,000 winner
?The curtain has come down on the football season, Manchester United were crowned Premiership champions, Chelsea won a cup double, and Matthew Hewitt, a broker with Elstree Insurance, was crowned as QBE Fantasy Football Manager of the Season.Hewitt won the £50,000 prize after Chelsea striker Didier Drogba stepped up to ...
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News
Primary General to unveil products in growth bid
Primary General will unveil a series of new products and look to open new branches in bid to hit its 20% growth target by the end of next year.The news follows the strengthening of the company’s regional presence with the appointment of three regional managing directors.Over the next six ...
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Reports
How can a company's reputation be protected?
Several high profile incidents involving possible reputational damage to multinational companies occurred recently, so how can companies guard against it? Caroline Jordan reports
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News
CCV buys Arthur Marsh
Cullum Capital Ventures (CCV) made its eleventh acquisition, buying Middlesex–based Arthur Marsh & Son, a broker controlling £8m in GWP. The acquisition brings CCV’s GWP to over £50m. It said it expected to make at least one more acquisition this month.
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Online only
Marsh establishes renewable energy team
New practice to operate from regional hubs in London and New York
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News
IFB plans more raids after arrests in Keighley
The Insurance Fraud Bureau (IFB) plans to ramp up its anti-fraud operations following the arrest of six people last week in connection with staged motor accidents. The IFB also revealed plans to widen its portfolio of anti-fraud activities. Deputy chairman Richard Davies said that the organisation was considering other options ...
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Online only
Mondial places new focus on Europe
Appoints Aimee Charlwood as business development manager to expand travel insurance on a pan-European scale
