Latest News – Page 2025
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News
Insurers count the cost of flooding
This week the ABI upped the estimated total cost of claims relating to the recent flooding
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Insurecom income soars 41% to £3.7m
First profit in six years attributed to asset sale to parent company
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British Insurance poised to clinch sale
Niche PPI broker British Insurance is looking to wrap-up its sale by the end of August with five potential buyers in the frame
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Financial news…
Quinn settles disputeQuinn-direct settled the disputed claim with Murray Timber Products for £12m, Insurance Times has learned. The legal action centred on a claim for €54m (£36.4m) brought by the timber company, a Quinn policyholder, after a fire in its Galway plant in 2005.THB profits rise 31%THB Group reported a ...
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Web news…
Car premium dropInsurancewide.com released figures from its car insurance comparison tool, which showed a 4.6% drop in average car insurance premiums in the second quarter. The figures conflict with the AA’s latest premium index which showed a 2.5% increase. First published on 4 JulyCardiff broker buy-outBroker Network member NG Insurance ...
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Bermudan Sagicor set for GI growth
Bermuda life insurer Sagicor is set to make an aggressive assault on the UK general insurance market after snapping up the Gerling at Lloyd’s Group, last week
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Zurich in deep water
Severe flooding may have wreaked havoc across the Midlands and northern England, but there’s nothing like a good bit of irony to lessen the tension.While thousands begin the clear up and insurers meet ministers over the £1.5bn cost of claims, Guy Munnoch, from ‘because change happenz’ Zurich, has astutely pointed ...
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Sants in running for Tiner’s role
With John Tiner due to step down as FSA boss within weeks, the market is wondering who will replace him as regulator-in-chief.The FSA has been typically tight-lipped about his replacement, but sources point to Hector Sants, head of the FSA’s wholesale arm as being the leading candidate.With his background in ...
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Claims firm makes the wrong call
Some claims management companies are taking longer than others to get to grips with the new regulatory regime. Mark Boleat, the government’s claims regulator, told delegates at the Insurance Times Future of Personal Injury Conference last week, how one claims management company ran into a spot of very hot water ...
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Turd party insurance
It seems there’s nothing these days that insurers won’t cover.While most are tapping into wind and solar insurance to cash in on the current craze of renewable energy, one canny insurer has gone that bit further in taking advantage of the growing sector.Chicken poo. Yes, that would be poo from ...
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Groupama poised to swoop for broker Lark
Insurer leads pack of four bidders for high net worth specialist
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Fraud body reveals 1,000 gangs in UK
The Insurance Fraud Bureau has revealed that as many as 1,000 organised crime gangs are targeting petrol tankers and other heavy commercial vehicles in increasingly audacious ‘cash for crash’ scams.
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Zurich fraud expert joins ‘crash’ team
The Ministry of Justice has seconded a senior fraud expert from Zurich in a bid to crack down on staged accidents
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Ace to provide renewable energy cover in UK through brokers
Ace to grow UK business with launch of renewable energy cover
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Biba lobbies to cut travel IPT
Biba is to lobby the government to bring the level of insurance premium tax (IPT) on travel policies in line with that on other insurance products.
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Solvency rules could spark insurer mergers, says ABI
New European rules on insurer solvency could trigger a wave of consolidation and encourage insurers to move away from certain product lines
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R&SA adds teams for property investor drive
Insurer set to grow broker network in bid to grow £200m book
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Post Office set for drive into more high risk business
The Post Office will look to boost its panel of insurers in a bid to win more higher risk business
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Miller expands energy team
Miller Insurance Services has appointed Philip Law to its energy business unit
