Latest News – Page 679
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Online onlyinet3 unveils non-standard property Flood Re solution
Inet 3, a specialist property managing general agent (MGA), has launched its Flood Re solution for non-standard home risks. The launch was supported by a new broker learning hub designed to assist brokers with product knowledge and competency through an online, tailored training programme. Inet3 brokers ...
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Online onlyDeloitte appoints new regulatory partner
A former Bank of England regulation director has joined consultants Deloitte. Andrew Bulley, who played a key role in the PRA’s roll-out of Solvency II to the life insurance industry, has been appointed as a partner in the Deloitte’s EMEA centre for regulatory strategy. “Now is ...
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NewsCooper Gay hires strategy and change head
Broking group Cooper Gay Swett & Crawford (CGSC) has hired Wendy Kilminster as head of strategy and change. She will join the company in September and report to group commercial director Andy Wallin. CGSC is in turnaround mode under new chief executive Steve Hearn, who joined ...
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NewsAsh Bathia’s Lloyd’s syndicate hires QBE financial lines head
Probitas 1492, the Lloyd’s syndicate run by Ash Bathia (pictured), has hired QBE’s former financial lines head Charles Boorman. Boorman joined Probitas today and reports to casualty chief underwriting officer Neila Buurman. In his new role Boorman heads up Probitas 1492’s financial lines team of underwriters, ...
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NewsRolls-Royce unveils 'luxury' driverless car
Rolls-Royce has unveiled its first driverless car which it claims is the “the future of luxury mobility”. The Rolls-Royce Vision Next 100 has no steering wheel, only one door and a virtual assistant. Instead of a chauffeur the vehicle will be controlled by a female-voiced artificial ...
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NewsInsurers must prepare for big changes as driverless era looms
The UK motor insurance market must prepare itself for legislation changes, huge falls in premium income and fewer crashes as driverless vehicles become reality, research firm Thatcham said. The firm said that by 2021 driverless cars will be able to go on motorways and that by ...
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NewsSompo Canopius operations head Stephen Manning departs
Sompo Canopius chief operating officer Stephen Manning will leave the Lloyd’s insurer at the end of the year. It is understood that while Manning currently has no position to move into, he is keen to stay within the industry. Manning said: “I have enjoyed 11 exhilarating ...
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NewsMan sentenced for using charity bank account to defraud Swiftcover
A 29-year-old man has been sentenced to five and a half months in prison, suspended for 18 months, for trying to buy car insurance from Swiftcover using a charity’s bank account. Imran Aslam from Bolton was sentenced at Bolton Magistrates Court on Friday 10 May after ...
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NewsEY predicts further underwriting losses for UK motor insurers
UK motor insurers will report a 100.1% combined operating ratio (COR) in 2016, which will worsen to 101.7% in 2017, accounting and consulting firm EY predicts. The deterioration will be driven by pressure to cut rates in response to the government’s planned whiplash reforms and the ...
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NewsFlood Re signs up 20 more insurance providers
Flood Re now has 36 insurance providers signed up to support it, up from 16 when it launched two months ago. Flood Re, a scheme allowing insurers to provide affordable flood cover to homes in high-risk areas, went live on 4 April. Chief executive Brendan McCafferty ...
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NewsAirmic to update broker remuneration guide
UK risk manager trade body Airmic is planning to update its guide to broker remuneration. The guide, aimed at commercial insurance buyers, is intended to help clarify the status of brokers and how they are paid for their services. Key points: Airmic says broker ...
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NewsLonmar changes board as directors exit following GRP deal
Lloyd’s broker Lonmar is reshuffling its board after three directors left following the completion of the management buy-out backed by Peter Cullum’s consolidator Global Risk Partners (GRP). Lonmar chairman Howard Steeples, director Christopher Birrell and non-executive director George Boden are now no longer Lonmar directors following ...
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NewsGeneral insurers to hire more as disruption fears grow
General insurers are looking to hire more people as their fear of being disrupted increases, according to the latest quarterly CBI/PwC financial services survey. The survey found that the top three reasons for general insurers expanding their workforce is to improve efficiency, provide new products and ...
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NewsZurich names personal lines and Endsleigh heads as broking director exits
Zurich is planning to split the management of Endsleigh and its personal lines divisions. The decision follows the resignation of Patrick Cohen earlier this month who headed up both divisions. He had only been in the role for eight months. As a result Jeff Brinley is ...
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NewsRSA names new head of direct brand More Than
RSA has appointed Rob Flynn as the new managing director of its More Than direct brand. He takes over from Phil Wilson-Brown, who is leaving to return to his native Australia to take a job at Australian insurance group IAG. Flynn, who has worked for RSA ...
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NewsFoo Fighters sue Integro broker and insurers over cancelled shows
Foo Fighters are suing Integro-owned broker Robertson Taylor and several insurance companies for not paying out for seven cancelled gigs. The US lawsuit mentions three cancelled performances after lead singer Dave Grohl broke his leg in June 2015 and four after the Paris terror attacks in ...
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NewsPIB launches telematics-based fleet product
PIB has launched a telematics-based insurance product for the fleet market. The broking group said the product uses telematics data and risk management to reduce costs for fleet operators. The product uses driver behaviour and attitude data to influence the insurance premium paid as part of ...
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NewsGallagher: our data justifies calls for more commission
Arthur J Gallagher deserves the commission it is paid because it has more and better data than insurers, special adviser Dave McGurn has said. Speaking during an investor call McGurn, Gallagher’s former chairman of risk placement services, said that while insurers were trying to cut what ...
