Latest News – Page 2028
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Ace launches renewable energy cover
Ace Renewable Energy provides cover across renewable energy risks
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Online onlyEx-R&SA manager to head Marsh's UK commercial client practice
Former sales manager for affinities and director of small businesses will help Marsh crack the small companies market
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New study contradicts AA motor survey results
Insurancewide.com results show drop in premiums, while the AA index shows a rise
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News in brief…
Motor rates at record highCar insurance premiums have reached their highest ever level, according to the AA’s benchmark British Insurance Premium Index. The Index shows that over the past quarter, the average quoted premium index for an annual comprehensive car insurance policy rose 2.5% to over £822. Biba warns over ...
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SME terror cover set to surge after attacks
The take-up of terrorism cover among SMEs could be set to surge following the latest terrorism threats in the UK.The number of businesses, which currently take out terrorism cover as part of their commercial property insurance, is said to be low among SMEs compared to corporate-sized firms.But, as counter-terrorist officials ...
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Cost of Beckett legal settlement with Towergate put at £1m
Dispute follows poaching of 119 clients by IRS
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J&M buys broker to bolster hire business
J&M Insurance Services is set to cement its position in the public and private hire insurance market with the acquisition of its fifth broker in two years.The taxi insurance specialist, which controls nearly 9% of the market, aims to double its footprint in the sector after buying south London broker ...
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Syndicates face fund ‘double whammy’
Lloyd’s syndicates writing high risk business could be forced to pay larger central fund contributions, under proposals being considered by Lloyd’s.Lloyd’s chief executive Richard Ward told the Association of Lloyd’s Members (ALM) conference that the corporation was considering setting individual central fund contributions based on the risk profile of each ...
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Amlin buys Allied Cedar to strengthen UK property book
Amlin has mounted a bid to boost its flagging UK property division by acquiring Allied Cedar Insurance Group.The company, which is divided into Allied Under-writing Agencies and Cedar Insurance Company, will be integrated into Amlin Insurance Services, the UK commercial division of the Amlin group.The acquisition of Allied Cedar, which ...
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Gable reports £6.2m GWP in first year
Gable Holdings, the AIM-listed construction insurance specialist, reported gross written premiums of £6.2m for the year ended 31 December 2006.It recorded a loss before tax for the year of £0.24m, owing to a “very cautious view on its reserving policy”. Gable Insurance began writing its first business in ...
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Financial news…
Gerling bought outCaribbean financial service giant Sagicor purchased the Gerling at Lloyd's Group. Sagicor said the acquisition gave it an entry to the London market. Mobile Doctors deal Mobile Doctors agreed to take on all ongoing cases for IMS Litigation Services and IMS Legal Indemnity after IMS collapsed last ...
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Web news…
R&SA subsidence claimsRoyal & SunAlliance (R&SA) said it would transfer the handling of subsidence claims to two specialist subsidence management companies, InFront Innovation (IFI) and Crawford & Co. The changes will result in around 30 roles being transferred to IFI from R&SA. First published on 29 JuneMacquarie launchMacquarie Bank is ...
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Westinsure signs up 100th member
Broker alliance Westinsure has signed up its 100th member, Metcalf Insurance Services. The addition of the Stockport broker brings Westinsure’s controlled premium to £200m. Denis Morgan, managing director of Westinsure, said the alliance was on track to hit £250m GWP by the end of the year with around 125 members ...
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Web news...
OFT clears Sirius buy-outSSP’s acquisition of Sirius was given the all clear by the Office of Fair Trading (OFT). The OFT has the power to stop a takeover taking place if it finds that the combined company results in the “lessening of competition in the market”. The OFT said that ...
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Government to block terror attack fund plans
Insurers will not have to fund overseas terror pool
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Companies losing appetite for offshore call centres
Rising personnel costs and a poor perception of customer service are reducing the attractiveness of offshore call centres, according to a new study.Wage inflation of up to 15% per year in places like India is restricting the amount of money that companies can save by outsourcing, according to research by ...
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Fletchers to become a limited company
Southport-based Fletchers Solicitors is gearing up for the implementation of the Legal Services Bill by finalising plans to becomea limited company.The legal firm, which specialises in road traffic accident claims, is abandoning its partnership structure. It hopes it will be a more attractive acquisition target for insurers who want to ...
